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International Documents on Corporate Responsibility

Edited by Stephen Tully

International Documents on Corporate Responsibility includes the principal international, regional and national instruments drafted by intergovernmental organisations or states as well as codes of conduct formulated by industry associations, trade unions and non-governmental organisations. The coverage includes the fields of human rights, international criminal and environmental law, labour standards, international trade, armed conflict, sustainable development, corruption, consumer protection and corporate governance. Each document is accompanied by a brief explanatory commentary outlining the historical origins of the instrument, the principal actors involved, controversial negotiation issues, applicable implementation procedure, and identifies further reference material.
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Chapter 4: UN: Declaration on Permanent Sovereignty over Natural Resources, 1962


Commentary: As a corollary to territorial sovereignty, UNGA Resolution 1803 (1962) expresses the right of self-determination of peoples and has since been affirmed inter alia by the ICCPR and ICESCR (below). The Declaration reflects customary international law: Texaco v Libya (1978) 17 ILM 1: paras 87–8; Kuwait v AMINOIL (1982) 21 ILM 976: para 143. However, the scope and implications of the principle of permanent sovereignty over natural resources are still debatable: see further ICJ, the East Timor Case (Portugal v Australia) (1995) ICJ Rep 90; Case Concerning Certain Phosphate Lands in Nauru (Nauru v Australia) (1992) ICJ Rep 240. See further, Schrijver N. (1997), Sovereignty over Natural Resources: Balancing Rights and Duties, Cambridge: Cambridge University Press. 2. 3. 4. 6. The exploration, development and disposition of such resources, as well as the import of the foreign capital required for these purposes, should be in conformity with the rules and conditions which the peoples and nations freely consider to be necessary or desirable with regard to the authorization, restriction or prohibition of such activities. In cases where authorization is granted, the capital imported and the earnings on that capital shall be governed by the terms thereof, by the national legislation in force, and by international law. The profits derived must be shared in the proportions freely agreed upon, in each case, between the investors and the recipient State, due care being taken to ensure that there is no impairment, for any reason, of that State’s sovereignty over its natural...

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