Since its founding in 1970, the CETIM has been studying the problems posed by transnational corporations (TNCs). Multinationals with great economic and political power violate human rights, very often, with almost total impunity. Since the 1990s, we have been witness to the offensive of financial capital and the adoption of a vast panoply of international norms favorable ton TNCs (especially multilateral and bilateral agreements on trade and investment) and ignoring human rights. The elevation of these entities to the rank of privileged agents of development by the promoters of neoliberal globalization and the wide-scale privatization of public services favoring them have reinforced their position such a degree that they now control the bulk of production and marketing of goods and services at the global level.
A large part of the catastrophes with dramatic consequences for humans and the environment have been caused by or with the crucial complicity of TNCs. For example, the explosion of an agro-chemical plant in Bhopal (India) or the petroleum pollution in Equatorial Amazon. These entities escape legal action.
This publication demonstrates the necessity and urgency of having a binding international instrument to sanction those multinationals responsible. CETIM’s publication also highlights how important it is to enable the victims to obtain compensation.