Engaging corporations in achieving economic and social rights.
Globalization and market liberalization have made the power of multinational corporations more noticeable and exposed the limit of national governments' power. These corporations can create unsustainable situations that affect workers and communities in many of the host countries in which they operate. Conversely, the private sector can also positively contribute to peoples' lives. By promoting economic development and generating wealth and prosperity in a sustainable manner, corporations have the ability to realize a broad range of economic and social rights.
This knowledge has brought Oxfam to an innovative approach towards engaging with the private sector. The impact of business that undermine development is what Oxfam would like to see changed: from do no harm to do good and show it.
Responsible private companies, both small and large, can contribute to poverty reduction in the countries where they operate. While seeking profits, companies are also accountable to their employees, customers, suppliers, the wider community and the environment. Oxfam Novib wants to partner with companies that strive to do business in a sustainable and inclusive manner. When companies fall short of their social responsibility, Oxfam Novib will hold them accountable, through dialogue, lobby and public campaigning. We also support emerging entrepreneurs with micro-finance and we invest in local Small and Medium Enterprises (SMEs).
Want to know more about our private sector work? Have a look at our factsheet!
|Source||Oxfam Novib, 17 februari 2015|