Browsing by Author "Voutilainen, Julia"

This Thesis examines the impact of Multinational Corporations (MNCs) on global governance, focusing on Corporate Social Responsibility (CSR) and Human Rights Due Diligence (HRDD). In the globalized world, MNCs have gained significant social power and influence, which they may utilize to advance their business interests at the cost of human rights through global governance. Simultaneously, they may seek to evade their social responsibilities and act with impunity without accountability mechanisms under the voluntary, self-regulated CSR regime. The primary research question is to what extent HRDD legislation mitigates the lack of accountability exhibited by MNCs, particularly in light of the challenges posed by the voluntary CSR regime. The research examines the effectiveness of HRDD laws in regulating corporate behaviour and protecting human rights against MNCs’ pursuit of profit maximization. The research employs a case study, legal analysis, and literature review to analyse MNCs’ influence and challenges of CSR in the global market. Key findings reveal the need for stronger regulatory frameworks to counterbalance MNCs' profit-driven agendas with CSR. The study underscores the importance of enhancing accountability mechanisms and collaboration among MNCs, governments, and civil society to uphold human rights standards in corporate operations. The research advocates for the continued development of HRDD laws and the CSR framework to mitigate the adverse impacts of MNCs on the surrounding society and environment and to promote responsible business practices.