At its 26th session, on 26 June 2014, the Human Rights Council adopted
resolution 26/9 by which it decided “to establish an open-ended intergovernmental working group on transnational corporations and other business enterprises with respect to human rights, whose mandate shall be to elaborate an international legally binding instrument to regulate, in international human rights law, the activities of transnational corporations and other business enterprises.”
The open-ended intergovernmental working group (OEIGWG) has had seven sessions so far. Ahead of the
seventh session, the Permanent Mission of Ecuador, on behalf of the Chairmanship of the OEIGWG, released
a third revised draft legally binding instrument to regulate the activities of transnational corporations and other business enterprises. The third revised draft served as the basis for State-led negotiations during the
seventh session, which took place from
25 to 29 October 2021.