A Critique of Human Rights Obligations of Transnational Corporations under International Law

The growth in influence and power of the transnational corporation in a globalised world has been considered as being one of the most significant developments both domestically and internationally. It has resulted in various changes to political, economic and financial barriers by many developing countries with the hope to attract international investment, which had provided an opportunity for transnational corporations to exploit the resources of these countries. While TNCs have contributed to economic advancement in developing countries, they are also alleged to have violated Human Rights of the people. The International Legal framework is designed to combat violations by the state actors. Even though there are various instruments of international law to regulate conduct of TNCs in respect of human rights, but these instruments are essentially non-binding and corporate responsibility under them remained weak and ineffective. This paper analyses various such instruments providing for human rights obligation of TNCs. The paper suggests imposing international obligations on corporations within the International Law of Human Right, making them a subject of international law for effective implementation of human rights obligation.