| english / deutsch |
| Demand 8: REGULATE CORPORATE ACTIVITIES The EU pushes the development of investment rules in bilateral and regional trade deals that would give enhanced rights to corporations at the expense of people and the environment, states the S2B-network: |
| Such investment rules would limit the space for governments and societies to regulate their economies and strengthen the rights of foreign corporations. A clear example of far reaching negative political, social and environmental impacts of investment agreements is NAFTA, the free trade accord between the US, Canada and Mexico. Numerous corporate suits have been used to challenge or reverse democratic decisions to protect public health and the environment.
Powerful and influential Transnational Companies (TNCS) in today’s global economy are not being held accountable for the negative impacts of their operations. Governments, the EU and their elected representatives (eg.: MEPs), must ensure that TNCS can be held accountable to the communities they affect through legally binding rules of accountability and liability. At the UN World Summit on Sustainable Development, governments agreed to '‘actively promote corporate responsibility and accountability, based on the Rio principles, including through the full development and effective implementation of intergovernmental agreements and measures...'’ Demand 8 The EU must give up its current push for more investment protection agreements in bilateral and regional trade deals and promote legally binding rules for corporate accountability. |
 |
 |