Second revised draft of UN binding treaty has “lost its soul”

A statement by the Global Campaign to Reclaim People’s Sovereignty, Dismantle Corporate Power and Stop Impunity criticizing the second revised draft of a UN binding treaty intended to regulate transnational corporations (TNCs) and human rights.

• The Global Campaign argues that the second revised draft of the binding treaty fails to address the legal regulatory vacuum regarding transnational corporations (TNCs) and is insufficient to close the accountability gap, noting that it does not innovate enough beyond the UN Guiding Principles.
• The campaign identifies several critical omissions in the draft, including the lack of recognition of TNC obligations to respect human rights, the failure to mention global value chains, the absence of international legal mechanisms for sanctions (such as an international court), and the lack of primacy for international human rights law over trade and investment agreements.
• The draft is criticized for expanding its scope to all enterprises regardless of distinction, which the campaign claims contradicts Resolution 26/9's focus on enterprises with "transnational activity". Additionally, the draft is seen as weakening the liability of parent or controlling companies and failing to impose joint and several liability across global value chains.
• The campaign expresses concern over the lack of provisions to address corporate capture, which it describes as a key factor in the power imbalances between large TNCs and states, particularly in the global south.
• Due to the Covid-19 pandemic and associated crises in the Global south, the campaign asserts that conditions are inadequate for the sixth session of the Working Group to be a negotiating session, suggesting instead that consultations be held to ensure civil society participation and maintain the process's legitimacy.

APA

admin (2020). Second revised draft of UN binding treaty has “lost its soul”. Friends of the Earth International. https://www.foei.org/second-revised-draft-of-un-binding-treaty-has-lost-its-soul/

Chicago

admin. Second revised draft of UN binding treaty has “lost its soul”. Friends of the Earth International, 2020. https://www.foei.org/second-revised-draft-of-un-binding-treaty-has-lost-its-soul/.

Wikipedia

{{cite press release |last1=admin |title=Second revised draft of UN binding treaty has “lost its soul” |publisher=Friends of the Earth International |date=2 September 2020 |url=https://www.foei.org/second-revised-draft-of-un-binding-treaty-has-lost-its-soul/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2020second, author = {admin}, title = {{Second revised draft of UN binding treaty has “lost its soul”}}, publisher = {Friends of the Earth International}, year = {2020}, month = sep, url = {https://www.foei.org/second-revised-draft-of-un-binding-treaty-has-lost-its-soul/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }