Global Policy Initiatives to Regulate Business Responsibility and Human Rights

Abstract

In view of the shortcomings of corporate law and international law, this chapter argues that pragmatic global policy instruments can provide a strong foundation for promoting changes in business practices and providing greater protection by closing the governance gaps that place human rights and the environment at risk. This chapter traces the trajectory of international policy initiatives advanced to address the governance gap culminating in the endorsement of the UN Framework and Guiding Principles on Business and Human Rights, which seek to translate human rights issues into corporate responsibility imperatives. Based on the author’s analysis of primary UN documents and commentaries; interviews with different stakeholder constituencies in the policymaking process, including corporate representatives and rights activists; ethnographic research, including participation in and observations of the annual proceedings of the UN Forum on Business and Human Rights; and interviews with members of the UN Working Group on Business and Human Rights, the chapter will show that while the consensus formed around global policy instruments is fragile, certain aspects of the Framework appear to be gaining traction as authoritative among those stakeholders best situated to address or avoid human rights abuses.