The ball is in the EU's court: Opinion on the updated draft for a binding human rights instrument on transnational corporations and other business enterprises

Abstract

The new draft of a UN binding instrument on Transnational Corporations and Other Business Enterprises presents both opportunities and risks. The process for this agreement has visibly evolved this year, and the new draft addresses many criticisms that the EU has raised in the past. These developments should be seen as an opportunity for the EU to formally enter into negotiations in a timely manner.