Philippines lawmaker pushes binding U.N. treaty on multinational abuses
Debate over corporate accountability at the United Nations is sharpening as governments and civil society groups weigh new rules for cross-border business conduct. A Philippine lawmaker says a legally binding treaty is needed to put worker rights and environmental protection ahead of foreign investors' commercial interests.
Highlights
- Party-list Rep. Haima 'Dadah' Kiram Ismula advocates at U.N. Geneva talks for a legally binding treaty ensuring corporate accountability for human rights abuses.
- Ismula criticizes Investor-State Dispute Settlement mechanisms, warning they discourage governments from implementing stronger labor and environmental regulations.
- She urges international standards prioritizing human rights over trade and investment commitments, pushing governments to revise agreements to include binding protections.
Geneva talks focus on corporate accountability
As reported by BusinessWorld Online, Party-list Rep. Haima "Dadah" Kiram Ismula says during negotiations at the U.N. in Geneva that existing trade and investment agreements often let foreign corporations defend their financial interests while victims of corporate abuse struggle to secure justice.Speaking in Filipino, Ms. Ismula says the negotiations matter to ordinary Filipinos because they touch on livelihoods, decent work and access to justice. She joins discussions on the proposed U.N. Legally Binding Instrument on Transnational Corporations and Human Rights, representing civil society organizations, trade unions and affected communities through the Global Interparliamentary Network and CETIM.
Labor and environmental safeguards at stake
Ms. Ismula criticizes Investor-State Dispute Settlement mechanisms, which allow foreign investors to bring claims against governments under some investment agreements. She warns these mechanisms can deter governments from adopting stronger labor and environmental protections.She argues the current international system gives corporations stronger tools to protect investments than those available to workers and communities seeking redress for human rights violations. The lawmaker calls for international standards requiring human rights obligations to take precedence over trade and investment commitments, and urges governments to align existing and future economic agreements with binding human rights protections.
Our earlier article on the EU’s efforts to rebalance trade with China described how Brussels plans to build on a deal that cut Chinese hybrid car imports and potentially widen negotiations to other sectors. It also noted that EU leaders were considering faster trade-defence tools if talks fail to deliver concrete results, signalling a tougher stance in enforcing trade policy.
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