GLOBAL AND EUROPEAN POLITICAL AND LEGAL ESSENTIALS FOR A HUMAN-CENTRED BUSINESS MODEL IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT AND HUMAN RIGHTS' SAFEGUARDING
DOI:
https://doi.org/10.15407/econlaw.2024.02.013Keywords:
: sustainable development, socio-economic human rights, environment, ESG, ecosystem of sustainable humancentred business, due diligence, resilience.Abstract
This paper highlights a panorama of the global and European political-legal and scientific-practical contexts of sustainable
human-cantered development and trends in the application of a business model corresponding to it. A timeline of adoption
of international policy and legal acts on introduction of the human environmental approach into the way of the modern
human development and on implementation of the UN Agenda for Sustainable Development and SDGs as well
as the UN Guiding Principles on Business and Human Rights into the socio-economic development and economic activity
of states and businesses in the XXI-st century is outlined. A general understanding of a human-centered development
and a human–centered business models – as elaborated by the UN, World Bank and OECD experts – is presented.
The importance of a holistic approach to the formation of a new ecosystem of human-cantered economic activity is argued
following the international experts’ opinion.
Results of some recent scientific studies on the ecosystem of sustainable human-centred business, on human-centred
economics and social business models that benefit all are traced and sketched out. Among others, the new threats
and challenges (like AI, hybrid international conflicts, wars, etc.) of the current global development are briefly contoured
and the idea of the humanity’s prospect of construction of a new “neoclassical-Keynesian-ecological synthesis” when
it will need to chart a new Middle Way in economics between environmentally destructive growth and socially destructive
economic stagnation or degrowth is proposed by the researchers. Testimonies of some companies’ CEOs about the benefits
of a human-centred business model are provided.
Considerations about the importance of providing appropriate political and legal foundations in Ukraine
for the implementation of a new human-centred economic ecosystem, having in mind the prospect of our country’s
accession to the European Union and the Organization for Economic Cooperation and Development as well
as the challenges of its post-war recovery are presented.
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