The need for policy reform to allow for a responsible investment policy that secures our future and is coherent with Ireland's international obligations.
Corporate Accountability
We ask companies to take responsibility for their actions.
Business activities are central to the well-being of national and international economies. But in many countries there is a lack of safeguards to prevent businesses from becoming complicit in, or tacitly benefiting from, human rights abuses
Why is Trócaire interested in the issue?
We believe that business plays a pivotal role in the fight against poverty and has a crucial role to play in the development process through much needed investment, job creation and training. However not all such investments are uniformly positive. Our experience has shown that in countries with weaker governance systems, business actors, in particular trans-national corporations (TNCs) may play an unconstructive role, where they contribute to environmental degradation and human rights abuses.
What we're doing
We're supporting human rights and environmental activists in many countries across the world who are actively addressing the negative impacts of TNC's. In most cases the work arises due to the manner in which mineral resources such as oil, diamonds, timber and others are being extracted.
Often weak regulatory oversight and rule of law result in TNC’s operating in a manner that does not respect fundamental human rights. Such abuses result in developing countries not obtaining a fair and reasonable benefit from the foreign direct investment made in their countries. The absence of any significant benefit serves to undermine prospects for eradicating poverty.
We're also working with international partners such as Global Witness and the European Coalition for Corporate Justice to highlight these injustices with policy and decision makers in Ireland and beyond so that there is better regulation and overrsight of TNC actions.
Our policy work on Corporate accountability - what we aim to achieve
Trócaire is currently engaged in research on a range of issues related to the functioning of TNCs with a particular focus on developing countries. Much of this work relates to extractive industries. Trócaire is currently working on promoting a responsible investment policy for the Irish State Pension Fund (National Pensions Reserve Fund) so that it might provide future positive returns while insuring Ireland meets its obligations to protect human rights and the environment. Alongside our European counterparts in CIDSE we have closely followed the work of the UN Secretary General Representative on Business and Human Rights and are actively promoting the Irish government’s engagement with his mandate.
Latest Resources
This year’s Trócaire Development Review focuses on the role of Business in Development, raising the question of whether there needs to be a new paradigm on the responsibilities of business in development that goes beyond Corporate Social Responsibility.
Take Action
Trócaire is supporting the work of the Ecumenical Council for Corporate Responsibility, a British and Irish faith based shareholder network which seeks to promote greater corporate responsibility. Read of its work including research of Irish companies and their responsibilities for use of water in developing countries and the sourcing of agricultural produce from the illegal settlements in the Occupied Palestinian Territories.
Related policy papers:
Submission by Trócaire to the Interdepartmental Committee to Consider the Appropriateness of an Ethical Investment Policy for the NPRF, June 2009.
In preparation for the European Parliament elections which will be held in Ireland on June 5th 2009, this document outlines six key priorities which Trocaire is calling on Irish MEPs to take forward in the next European Parliament 2009-2004.
This document sets out the vision of CIDSE and its partner organisations in Latin America regarding the prevailing challenges related to extractive industries on the continent.
En base a la experiencia de estos y otros grupos, el presente documento plantea la visión de CIDSE y de sus organizaciones copartes en América Latina respecto a los enormes retos relacionados con las industrias extractivas en el continente.
