International trade and investment frameworks should ensure the regulation of transnational corporations (TNC’s) so that their actions actually contribute to poverty eradication, promote human rights and respect the right of local communities to protect the environment and sustainably develop their natural resources.

Challenges and Opportunities:

Stakeholders: Today, 47 of the top one hundred economies in the world are actually transnational corporations (TNCs). Seventy percent of global trade is controlled by just five hundred corporations. Half of all total foreign direct investment is owned by only one percent of all TNCs globally. Shareowners, employees, consumers and local communities both individually and collectively have a responsibility to use the tools that are at their disposal to hold TNCs accountable. These tools used in shareholder actions have been proven successful and some corporations are getting the message. Sustainable development is in every community’s interest and TNCs need to be challenged to do their part.

Trade Agreements: The prevailing “Free Trade” mantra which guides bi-lateral, regional and global trade arrangements is biased in favor of corporations and fails to integrate social, environmental considerations. The negative impacts (lost employment opportunities, service and manufacturing outsourcing as well as environmental destruction imposed on numerous communities) need to be included in the cost of “doing business.” The long-term viability of communities around the world must be made an essential feature of all trade agreements.

Sustaining Vital Democratic Institutions: The increasing power and influence of TNCs on all aspects of development and especially in decisions that affect the lives of millions of people needs to be addressed. The voice and vote of local, regional communities, as well as the authority of sovereign nations must be respected in trade agreements. Corporations must be obliged to include the social and environmental impacts and demands which they are imposing on communities, including accountability for any exit or downsizing decisions

We envision: Trade and investment relationships that uphold principles of social and economic justice, enhance the material and spiritual well-being of all (through means such as equitable distribution, fair working conditions, and meaningful employment), and promote the advancement of women in social and economic development.