What You Need to Know about Corporate Accountability

business and human rightsIf businesses and multinational corporations are considered people under the Citizen United ruling, then they ought to be considered people under a variety of other characteristics besides free speech. Businesses and multinational corporations should also be considered people when it comes to human rights, both in acknowledging them and in holding them accountable for human rights violations. If individuals are held to this standard, then they ought to be held by the same standard if they are going to be “people” under the law. Here’s what you need to know about corporate accountability and what governments need to do to ensure these organizations uphold human rights in their operations.

Of the World’s 100 Largest Economies, 42 are Global Corporations, Not Countries

As of 2010, a little less than half of the world’s largest economies are global corporations. That percentage increases to 58% when you look at the top 150 economies. Wal-Mart is the largest global corporation, with its 2010 revenues exceeding the GDPs of 171 countries (note that there are 195 internationally recognized independent states). The five largest energy companies in the world – ExxonMobil, BP, Sinopec, Royal Dutch Petroleum, and China National Petroleum Corporation – actually comprise 2.5% of the world’s global GDP. Those five companies combined have the same size GDP as Canada, which is the 10th largest country in the world.

Overall point: these multinational corporations are powerful, more powerful than much of the world’s independent nations.

Corporate Accountability is More than Getting Justice for Human Rights Abuses

The story of St. Louis and the Veolia water contract is a perfect example of holding corporations accountable for previous actions and preventing them from continuing their behavior. Safe drinking water is a basic human need as well as a basic human right, and shouldn’t be left to transnational companies to do what they want with it while profiting at the expense of the locals and the poor. St. Louisans made it clear that they didn’t like Veolia and that they weren’t going to accept handing over their water or what the company was doing in other parts of the country and the world.

One in four people in the world don’t have safe drinking water. Unchecked corporate power is one of the biggest human rights issues of our time, and although St. Louisans were successful in checking Veolia’s power, there’s still more to do be done with many other organizations and how they’re using their unchecked power to inflict harm.

Let’s Not Forget Their Influence in Politics

Everyone understands that Citizens United gave corporations immense power to influence public policy and to subvert the will of the people. Bank of America is bankrolling Big Coal, while Big Oil has a huge hand in trying to get the Keystone XL pipeline going. Monsanto spent millions in California to defeat a GMO labeling bill in the most recent election. There’s also the role the financial institutions played in preventing regulations of the financial industry, especially in the few years after the crisis. A big part of corporate accountability is holding these companies accountable to their stances and what they want as public policy as well as any human rights abuses and violations they may commit.

We need to challenge corporate election spending, as well as uncover what issues they are spending money on for lobbying and public policy. If corporations are going to spend millions upon millions of dollars to support or to defeat certain issues, then the public (and especially their customers) should know about these activities.

Related Links:

How to Track Relevant Human Rights Legislation

3 Things to Keep in Mind When Lobbying for Human Rights

How to Use Twitter to Promote Human Rights 

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