Corporate Crime and International Law: Accountability for Multinational Corporations

Abstract

This research article explores the mechanisms of international law aimed at holding multinational corporations (MNCs) accountable for corporate crimes such as environmental degradation, human rights abuses, and financial fraud. The rise of MNCs has led to increased instances of corporate crime, exploiting regulatory gaps across different jurisdictions. The article examines key international frameworks, including the United Nations Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises, and the potential role of the International Criminal Court in addressing corporate crime. It also discusses regional instruments and national legislation that contribute to corporate accountability. Despite these frameworks, enforcement challenges such as jurisdictional issues, lack of binding standards, and limited access to remedies for victims persist. Through case studies on Shell in Nigeria, the Bhopal gas tragedy, and the Volkswagen emissions scandal, the article highlights both the successes and limitations of current mechanisms. The conclusion emphasizes the need for binding international standards, enhanced jurisdictional cooperation, improved access to remedies, and better corporate governance to ensure greater accountability for MNCs.