Transnational corporations (TNCs) constitute central actors in the global economy, simultaneously fostering economic growth and generating profound challenges in the domains of human rights, labor standards, and environmental sustainability. Their structural predominance in global value chains has boosted production and international trade, as well as intensified inequalities, facilitated precarious working conditions, and produced significant ecological damage, particularly in contexts where regulatory frameworks are weak or unevenly enforced. The United Nations has sought to address these asymmetries through a range of initiatives, including the Guiding Principles on Business and Human Rights, the 2030 Agenda for Sustainable Development, and the Global Compact, which collectively articulate ethical standards and promote corporate responsibility. Nonetheless, their voluntary nature has limited effectiveness, as the absence of binding enforcement mechanisms continues to undermine accountability. This chapter critically assesses these developments, arguing that there is a lack of a rigorous multilateral framework capable of reconciling corporate influence with the imperatives of human rights protection and sustainable development.