Global campaign statement on the 3rd draft of the binding treaty

The Global Campaign to Reclaim Peoples’ Sovereignty, Dismantle Corporate Power and Stop Impunity criticizes the third revised draft of the binding treaty on transnational corporations as an ineffective and "toothless" instrument. The statement argues that the draft fails to establish direct obligations for TNCs, relies too heavily on weak due diligence provisions, and lacks strong international enforcement mechanisms, risking a result aligned with ineffective voluntary frameworks.

• The Global Campaign views the third revised draft as largely similar to previous versions, with changes that are primarily superficial and fail to address structural problems identified by affected communities and social movements.
• The draft is criticized for focusing exclusively on State obligations rather than establishing direct obligations for transnational corporations, which the Campaign argues is necessary for direct accountability.
• The Campaign argues that the treaty's scope is overly broad by including all business enterprises, including small and medium-sized ones, which dilutes the original purpose of addressing the specific obstacles to holding TNCs accountable.
• The document identifies several critical gaps in the draft, including the lack of an international tribunal or strong monitoring mechanisms, the absence of a clear primacy of human rights law over trade and investment law, and insufficient definitions regarding global value chains and the piercing of the corporate veil.
• The Campaign warns that the current focus on due diligence is an inherently limiting concept that may allow TNCs to escape liability simply by complying with those processes.

APA

Prak, C. (2021). Global campaign statement on the 3rd draft of the binding treaty. Friends of the Earth International. https://www.foei.org/global-campaign-statement-on-the-3rd-draft-of-the-binding-treaty/

Chicago

Prak, Caroline. Global campaign statement on the 3rd draft of the binding treaty. Friends of the Earth International, 2021. https://www.foei.org/global-campaign-statement-on-the-3rd-draft-of-the-binding-treaty/.

Wikipedia

{{cite press release |last1=Prak |first1=Caroline |title=Global campaign statement on the 3rd draft of the binding treaty |publisher=Friends of the Earth International |date=7 September 2021 |url=https://www.foei.org/global-campaign-statement-on-the-3rd-draft-of-the-binding-treaty/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{prak2021global, author = {Prak, Caroline}, title = {{Global campaign statement on the 3rd draft of the binding treaty}}, publisher = {Friends of the Earth International}, year = {2021}, month = sep, url = {https://www.foei.org/global-campaign-statement-on-the-3rd-draft-of-the-binding-treaty/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }