The process towards a legally binding instrument on business and human rights (also known as the “UN Treaty”) has now been underway for a decade. The initiative is based on the realisation that the activities of transnationally operating companies are not sufficiently regulated under human rights law. The transnational nature of these companies, their economic power and unilaterally formulated investment protection agreements often make it difficult to hold those responsible for human rights violations accountable and to provide victims with access to justice. There is a considerable [...]
The international financial architecture is in urgent need of reform. In the words of UN Secretary-General António Guterres, it is "outdated, dysfunctional and unjust". The main institutions were created 80 years ago in a transatlantic agreement, at a time when many of the world's nation-states of today were still colonies. Moreover, the institutions have failed in their mission to prevent and mitigate crises and to mobilize sufficient financing for internationally agreed development goals.
The reform of the international financial architecture is currently a major topic on the United Nations [...]
Calls for reforms of the international financial architecture are becoming ever louder. Governments, UN institutions, expert groups and civil society organizations are criticizing the fact that the network of institutions and rules that currently determine global monetary and financial policy and control global financial flows are not up to the current crises. The international financial architecture is “outdated, dysfunctional and unfair”, according to UN Secretary-General António Guterres.
In view of these challenges, the UN Member States made the reform of the international financial [...]
