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  • The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, Dec. 30, 2015.

    The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, Dec. 30, 2015. | Photo: Reuters

The goal is a binding international framework in order to sanction companies for human rights abuses. 

Delegations from around 20 Latin American and Caribbean countries are meeting Friday in Ecuador's capital Quito to work toward a legal intrenational treaty that will hold transnational corporations around the world accountable for human rights abuses. 

RELATED: Ecuador Fights for Global Rules to Clamp Down on Tax Evasion

The initiative is headed by Ecuadorean Foreign Minister Guillaume Long, who recently made remarks on the issue at the United Nations.

Long stressed the need to have an instrument like this in the heart of the U.N. to avoid the damage caused by large transnational companies, like what Chevron-Texaco did in his country with its devastating oil contamination of the Ecuador's Amazon region.

"The United Nations demans states and governments to observe and respect human rights, but they do not demand this from transnational companies," Long said, adding that there isn’t an international framework or a binding instrument to hold corporation saccountable for their human rights and environmental crimes.

The meeting will end with a draft treaty. 

 

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