Holding the Purse Strings

While the responsibility of States and, in more recent times, corporations, has been thoroughly discussed in relation to human rights, a new stage of evolution may be emerging in relation to the liability of the financial backers of an enterprise that is accused of human rights abuses. This article considers the basis in international law for such emerging liability and examines some of the legal avenues used in recent domestic litigation against financial institutions. The article concludes by examining some of the relevant instruments of ‘soft’ international law and notes that although there is little in the way of concrete legislation or judicial precedent that would hold financial institutions responsible for the actions of those they invest in, the potential for the law to evolve in that direction is clear

Business · Economics · Human rights · International law · Law and economics · Legal liability · Legislation · Liability · Political science · Relation (database · Soft law · Strict liability · Corporate Law and Human Rights · International Arbitration and Investment Law · International Law and Human Rights · Law

• Human Rights Obligations of Non-State Actors

  Andrew Clapham•Human rights obligations of…•2006

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