Accountability of Transnational Corporations under International Standards

Due to the process of globalization and rapid economic evolution in the last several years, transnational corporations have become extremely powerful. There is an evident disproportion between the numerous rights enjoyed by transnational corporations and the scarce obligations undertaken by them. Given their transnational nature, transnational corporations have been successfully avoiding national regulations of both their home and host states, and they are seeking to operate in countries with the lowest standards so as to increase their profits. This has resulted in the violation of basic human rights. Therefore, there is an increasing need for the creation of international instruments addressed to transnational corporations with express and clear obligations aimed at the respect of human rights. This study will analyze the nature and scope, as well as the advantages and disadvantages of the most important current instruments regulating transnational corporate conduct at the international level