Home | Databases | WorldLII | Search | Feedback Edited Legal Collections Data

de Jonge, Alice --- "The evolving nature of the transnational corporation in the 21st century" [2017] ELECD 246; in de Jonge, Alice; Tomasic, Roman (eds), "Research Handbook on Transnational Corporations" (Edward Elgar Publishing, 2017) 9

Book Title: Research Handbook on Transnational Corporations

Editor(s): de Jonge, Alice; Tomasic, Roman

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781783476909

Section: Chapter 1

Section Title: The evolving nature of the transnational corporation in the 21st century

Author(s): de Jonge, Alice

Number of pages: 30

Abstract/Description:

This chapter begins by introducing the history of the modern TNC since the founding of the United Nations in 1945. Part 2 is then devoted to charting the gradual evolution of regulatory norms aimed at shaping TNC behaviour – norms which have taken shape at corporate level, at industry sector level, at national level and in international forums. Finally, Part 3 highlights three recent developments with important implications for the future direction of the TNC in global society – the drafting of a new instrument on TNCs and human rights, the move towards taxation accountability for TNCs indicated in the OECD’s BEPS initiatives, and the ‘carving out’ of areas of national policy, including environment and health, to protect them from challenge under the ISDS provisions of the recently agreed TPP. Three themes are identified in the evolution of the modern concept of corporate social responsibility, and thus of the modern TNC – an evolving acceptance of increased transparency; an evolving acceptance of increased levels of accountability; and a move towards greater availability of effective remedies for individuals and groups detrimentally impacted by TNC behaviour.