This working paper released by Global Policy Forum gives an overview of the debate from the early efforts to formulate the United Nations (UN) Code of Conduct to the current initiative for a binding Treaty on Business and Human Rights. It particularly focuses on the responses by Transnational Corporations and their leading interest groups to the various UN initiatives, specifies the key actors and their objectives, and describes how many of their demands were ultimately reflected in governmental positions and UN decisions. In this context it also highlights features of the interplay between business demands and the evolution of the regulatory debates at the UN. This provides an indication of the degree of influence that corporate actors exert and their ability – in cooperation with some powerful UN member states – to prevent international binding rules for TNCs at the UN and, instead, promote legally nonbinding, ‘voluntary’ approaches such as corporate social responsibility and multistakeholder initiatives.

The working paper ends with remarks on what could be done to counteract and reverse corporate influence on the UN human rights agenda. This constitutes an indispensable prerequisite for progress towards effective legally binding instruments on business and human rights that can produce real improvements in the lives of affected individuals and communities.