Britain presented an opening statement at the 12th session of the UN open-ended intergovernmental working group dealing with issues of transnational corporations and other business enterprises in the context of respect for human rights. This working group was established to develop a legally binding international instrument that would regulate the activities of transnational corporations and other commercial entities from the perspective of human rights protection. The session continues a long-standing process of discussions initiated by UN member states to develop common standards of corporate accountability to society. At such meetings, states traditionally set forth their positions on key aspects of the future agreement, including issues of applicability of the document to various types of companies, mechanisms for legal protection of victims, and the degree of bindingness of the proposed norms. Britain's participation in such consultations reflects the ongoing dialogue between states, the business community, and human rights organizations regarding the balance between the economic interests of transnational corporations and the need to protect human rights in global supply chains. The official text of the British delegation's statement contains a detailed position of the country on the issues discussed on the session's agenda.