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Implementing the New UN Corporate Human Rights Framework: Implications for Corporate Law, Governance and Regulation

Muchlinski, Peter (2012) 'Implementing the New UN Corporate Human Rights Framework: Implications for Corporate Law, Governance and Regulation.' Business Ethics Quarterly, 22 (1). pp. 145-177.

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Abstract

The UN Framework on Human Rights and Business comprises the State’s duty to protect human rights, the corporate responsibility to respect human rights, and the duty to remedy abuses. This paper focuses on the corporate responsibility to respect. It considers how to overcome obstacles, arising out of national and international law, to the development of a legally binding corporate duty to respect human rights. It is argued that the notion of human rights due diligence will lead to the creation of binding legal duties and that principles of corporate and tort law can be adapted to this end. Furthermore, recent legal developments accept an “enlightened shareholder value” approach allowing corporate managers to consider human rights issues when making decisions. The responsibility to respect involves adaptation of shareholder based corporate governance towards a more stakeholder oriented approach and could lead to the development of a new, stakeholder based, corporate model.

Item Type: Articles
SOAS Departments & Centres: Faculty of Law and Social Sciences > School of Law
ISSN: 1052150X
Depositing User: Peter Muchlinski
Date Deposited: 21 Mar 2012 09:55
URI: http://eprints.soas.ac.uk/id/eprint/13447

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