Examining the role of human rights in enhancing corporate governance in private sector corporations in Kenya
Date
2021-01
Authors
SAID, MADIHA FOFEEK
Journal Title
Journal ISSN
Volume Title
Publisher
Strathmore University
Abstract
Corporations were viewed as property institutions whose main mandate was to make profits and maximize shareholder value. The separate legal personality of corporations meant that corporations could engage in business transactions and bear the potential risk of liability separately from its members or founders. Little or no attention was paid to human rights as a corporate responsibility since most of the accountability was towards shareholders. When undertaken without due regard for its potential impact on society, the corporate desire to maximize profit and minimize cost in the use of labor, land and services can lead to avoidable grievances.
Description
The UN Guiding Principles on Business and Human Rights: Implementing the United Nations ‘Protect, Respect and Remedy’ Framework. It was developed by the Special Representative of the Secretary-General on the issue of human rights and transnational corporations and other business enterprises. These Guiding Principles are grounded upon: (a) States’ existing obligations to respect, protect and fulfil human rights and fundamental freedoms. (b) The role of business enterprises as specialized organs of society performing specialized functions3. (c) The need for rights and obligations to be matched to appropriate and effective remedies when breached.