Extra Territorial Obligations
Gaps in human rights protection have become more severe in the context of globalisation over the past 20 years. These gaps are prevalent with regards to the human rights regulation and accountability of transnational corporations (TNCs) and intergovernmental organisations (IGOs), in particular international financial institutions (IFIs), such as the World Bank and regional development banks.
Extra territorial obligations (ETOs) are a missing link in the universal human rights protection system. Without ETOs, human rights cannot assume their proper role as the legal basis for regulating globalisation and ensuring universal protection of all people and groups. A consistent realisation of ETOs can generate an enabling environment for ESC rights and guarantee the primacy of human rights among competing sources of international law. ETOs provide for State regulation of trans-national corporations, State accountability for the actions and omissions of intergovernmental organisations in which they participate, set standards for the human rights obligations of IGOs and are a tool needed to ultimately stop the destruction of eco-systems and climate change.