A/HRC/31/50 benefits from the activities of transnational corporations, there were human rights protection gaps that could not be compensated by mere financial benefits. It was also highlighted by a number of States that there could be large asymmetric power dynamics between such corporations that need to be balanced. They also argued that it was appropriate to find remedies and solutions for victims of human rights violations, which must be the main concern during a treaty process. 23. A number of delegations noted that the Guiding Principles on Business and Human Rights did not get to the core of the discussion on maximum protection of human rights and access to remedies, and that a complementary international instrument was needed in order to strengthen national capabilities to ensure human rights protection in the domestic sphere. It was also highlighted by one delegation that transnational corporations and other business enterprises must conform to the values and principles of the United Nations. Several delegations reaffirmed that the principles of universality, indivisibility, participation, accountability and transparency should be applied. One delegation noted that many advances had been made in the area of business and human rights and that a new instrument would be a logical extension of that work. Another delegation considered that the priority was the implementation of the Guiding Principles rather than the development of a new international instrument. 24. Some delegations noted that it was their hope that a future legally binding instrument would include a reference to environmental principles, inherent dignity, freedom, justice, peace, respect for all rights, the universal indivisible nature of human rights, use of the best technology, polluter-pay principles, relevant intellectual property rights, free prior informed consent, subsidiarity, burden of proof and a number of principles to be found in relevant international instruments. They highlighted that the interdependence and indivisibility of human rights should be recognized and stressed the importance of the duty of the individual to defend human rights. The importance of taking an incremental, inclusive and comprehensive approach in line with resolution 26/9 was also highlighted. 25. Through a video statement, one NGO noted that the process for developing a binding instrument should be transparent, inclusive and participatory for all stakeholders, ensuring broad representation of rights holders with particular emphasis on marginalized groups and affected communities. It also suggested broadening the discussion to include not only transnational corporations but equally a broad range of business enterprises operating domestically. 26. One delegation believed that the elaboration of a legally binding instrument on transnational corporations and human rights was premature and not urgent. Likewise, it noted the need for the instrument to be studied in depth and discussed in the broadest possible way, taking into consideration all stakeholders, those against and those in favour. Finally, it stressed that discussions on this instrument should be based on a gradual development of the Guiding Principles. 27. A number of intergovernmental organizations noted that there was keen interest in the outcomes of the working group. One intergovernmental organization noted that any future instrument should include considerations of existing national and international guidelines and stressed the importance of a multi-stakeholder approach. One NGO highlighted that a normative hierarchy of international law should be central to a new treaty. Another NGO noted that current legal frameworks were inadequate to deal with the impacts of transnational corporations and that trickle-down development had been widely discredited but was still being promoted by such corporations, often in collaboration with States. 28. Most NGOs called upon States and political groups to actively and constructively participate in good faith. They also highlighted that a treaty was a unique opportunity to 7