Update on the process to elaborate a legally binding…

1:20pm – 2:40pm   Update on the process to elaborate a legally binding instrument on business and human rights, in light of the outcomes of the 8th session of the Open-ended Intergovernmental Working Group of the Human Rights Council established by Resolution 26/9

The open-ended intergovernmental working group (OEIGWG) on transnational corporations and other business enterprises with respect to human rights was established by HRC Resolution 26/9 of June 2014, with the concrete mandate "to elaborate an international legally binding instrument to regulate, in international human rights law, the activities of transnational corporations and other business enterprises". Since 2015, the Working Group has held eight sessions, with increasing participation by States and other relevant stakeholders taking part in the discussions and deliberations. In the last 5 years, the process has incorporated a pragmatic, balanced, inclusive, and progressive approach in complete synergy with other existing frameworks. Significant progress has been achieved in this process. It is possible to improve victims' access to justice and effective remedy through binding regulations that complement and reinforce voluntary norms such as the Guiding Principles on Business and Human Rights (UNGPs) and other non-binding international standards proposed by the ILO and the OECD. However, further work is still required to define the fundamental aspects to adopt an inclusive and balanced legally binding instrument. Broad and active participation of all the actors, particularly of States, is necessary to enrich the process with their vision and contributions and to build on and achieve consensus.

• Moderators: Nathalie Stadelmann
• Speakers: 
• Wolfgang Bindseil
• Joanne Bauer
•  Humberto Cantú Rivera
• Erika George
• Ben Vanpeperstraete
•  Alejandro Dávalos
• Florencia S. Wegher Osci
• Virginie Rouas
• Gayarati Khandhadai