«Il n‘y a pas un monde développé et un monde sous-développé, mais un seul monde mal développé»
INTERGOVERNMENTAL WORKING GROUP ON TRANSNATIONAL CORPORATIONS
1st session
March 2015
[Extract from the declaration]
With the globalisation of the economy, transnational corporations (TNCs) have become major, powerful and inescapable actors, and their activities are the source of multiple human rights violations. Today, a few hundred TNCs control most of the world’s production and marketing of goods and services. It is estimated that 80% of trade takes place within value chains linked to TNCs. This position gives them historically unprecedented power. Moreover, the transformation of banking activities and the concentration of financial capital in the hands of a few transnational entities now threaten not only the real economy but also democracy. It has also been shown that one of the major obstacles to the full realisation of all human rights, in particular economic, social and cultural rights, is the concentration of economic and political power in the hands of these entities.
