While states traditionally regulate businesses within their borders, Bonita Meyersfield, an Associate Professor at the University of Witwatersrand, argues that international law should impose direct obligations on corporations, especially regarding socio-economic rights such as access to food, healthcare, and education. In a recent study, Meyersfield highlights that corporations often exploit impoverished regions, benefiting from weak regulatory environments and cheap labor in the global south. Under the UN Guiding Principles on Business and Human Rights, corporate human rights responsibilities are currently voluntary, which, as Meyersfield argues, creates a power imbalance favoring corporations during negotiations with countries dependent on foreign investment. To address this, she proposes a legal framework that would hold corporations accountable in specific circumstances, aiming to mitigate poverty’s harm and foster a fairer global economy.
SOURCE: THE CONVERSATION
