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).
Private Sector Partnerships
We are keen to engage companies that want to do business in a more responsible and inclusive manner. The struggle against poverty can only be won when civil society, government and the private sector join hands. We have a long experience of supporting people who strive to escape poverty. We are keen to engage companies that want to do business in a more responsible and inclusive manner. Together we can improve the lives of workers, farmers and the wider community. This is good for business, the people and the planet.
Companies have a duty to respect the rights of people involved in their business and supply chain. Accountability is about being responsible and taking responsibility. According to the UN Guiding Principles on Business and Human Rights, companies have a duty to respect the human rights of the people involved in their business and supply chain. When companies engage in a meaningful dialogue with their stakeholders, the benefits can be far-reaching for the private sector and society.
Local Business Support
Thriving small and medium sized businesses are essential for local economic development. Oxfam Novib was one of the first NGOs to see the importance of microcredit as a tool for poverty reduction. We now invest in many entrepreneurs around the world to enable them to build a sustainable livelihood.