Without Corporate Accountability, “Good Governance” Falls
The business sector, led by corporations, has an increasingly prominent role in
international development. Although rapidly increasing in recent years, this role has its
origins in the same neoliberal ideology that launched what has become today’s mantra
of “good governance”.
However, while the “good governance” promoted by Bretton Woods institutions
valorises the centrality of business in development and the rolling back of the state, its
policy prescriptions do not include an enforceable system for holding corporations to
account or a framework that acknowledges the impact of corporate activities on people
– who are, due to such impacts, stakeholders in corporations.
IBON International believes the creation of a system that upholds the wider interests of
stakeholders above the narrow interests of shareholders and enforces corporate
accountability in line with international human rights standards and codes of best
practice. This must underpin any governance objective agreed under the Post-2015
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