Corporate Social Responsibility and Human Rights – Role of the International Organisations to Regulate Business Corporations for Violating Human Rights: A Socio-Legal Study

Abstract

This article explores the social responsibility of business corporations and role of the international organisations to regulate business corporations for violating human rights. Business corporations are powerful vehicle for economic, social, and cultural enhancement; particularly in developing countries via job creation and diffusion of technology, scientific advances, and management skills. Business corporations are expected to respect the sovereign interest of the host State. The latter is in turn also duty bound to reciprocate by fulfilling what it has undertaken while contracting with the business corporations. This article briefly making an analysis of the definition of legal personality of business corporations. Further to that it also explains the importance of corporate social responsibility in the human rights context in this globalized market. It also contributes with socio-legal analysis on international regulations to control business corporations such as OECD initiatives, ILO tripartite declarations, UN Global compact shared values and principles including SRSGs draft ‘guiding principles’ for the implementation of the United Nations ‘protect, respect and remedy’ framework. Finally, concludes with few suggestions to improve litigation and framing of international legal settings for regulating ‘business corporations’ against abuse of human rights.