Archive for October 26th, 2014

26/10/2014

Ecuador’s FM Patiño on Global Corporations: Transnational Misconduct Must End

Human Wrongs Watch

By Ricardo Patiño, Minister of Foreign Affairs of Ecuador (RT)*

Ricardo Patiño | Photo: Cancillería del Ecuador

Ricardo Patiño | Photo: Cancillería del Ecuador

25 October 2014 — Transnational corporations have abused their privileges leading to “an unprecedented level of social and environmental injustice,” said Ecuador’s FM Ricardo Patino in his article calling on all nations to hold such companies accountable for their actions:

Ecuador has undergone a profound social, economic and political transformation over the past seven years, prioritizing the needs and rights of its citizens.

A great moral challenge of the 21st century is to establish people’s control over the forces that reign supreme in trade and commerce. Transnational corporations enjoy special rights, protections, and privileges that have led to an unprecedented level of social and environmental injustice, particularly in developing countries without sufficient legal recourse to defend against corporate power.

A new proposal spearheaded by Ecuador and South Africa to create a legally binding instrument to regulate the human and environmental rights abuses of transnational corporations, recently approved by the UN Human Rights Council (UNHRC) in Geneva, is the start of setting things right.

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