Five years after the start of the process to elaborate a legally binding instrument on transna- tional corporations and other business enterprises with respect to human rights, states have started to work on draft texts that showcase some of the policy and legal options made by the Chairperson-Rap- porteur of the Intergovernmental Working Group. The Revised draft of the legally binding instrument, discussed during the fifth session in 2019, presents a state-centric approach that conforms to existing international human rights law standards, therefore focusing on indirect obligations for business enter- prises. However, despite a generally positive reception of the text, some of its foundational elements (especially the definitions and scope of the Revised draft) must be thoroughly considered and discussed by participating states, in order for the draft treaty to be potentially effective.
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|Published - Aug 2020