A/HRC/29/28
para. 81). The United Nations should use its unique status to drive further convergence on
the Guiding Principles, and in doing so improve the policy coherence of governance
frameworks aimed at managing adverse impacts of economic activity and supporting
sustainable development.
III. Integrating the Guiding Principles into United Nations work
and processes with a “business interface”: investment,
trade and financial institutions
15.
As the Secretary-General urged in his synthesis report on the post-2015 sustainable
development agenda, there is a need to remedy the policy incoherence between current
modes of international governance in matters of trade, finance and investment on the one
hand, and our norms and standards for labour, the environment, human rights, equality and
sustainability on the other and to ensure investment policies that are in line with the
Guiding Principles (see A/69/700, paras. 95 and 105).
16.
Despite this recognition, uptake across the United Nations has been slow, with some
notable exceptions. Tangible progress is needed to increase the momentum of convergence
around the Guiding Principles in order to manage and address adverse human rights
impacts linked to business activities. Concerns about the possible negative impacts on
people and the environment of current investment, trade and financial practices are a
regular feature of the global debate and a central premise of efforts to reform global
governance.
17.
With regard to action within the United Nations system, there are great potential
dividends to be reaped from aligning efforts on investment, trade and financial institutions
with the Guiding Principles. The United Nations system has great potential for affecting
business practice, be it through facilitation of dialogue, be it through facilitation of
dialogue, consensus-building, lesson sharing and capacity-building to encourage
responsible business conduct, or through more direct involvement in shaping rules and
governing frameworks
A.
Investment
18.
It is highlighted in the Guiding Principles that investment policies and frameworks
must be consistent with international human rights standards. The primary responsibility for
meeting this objective is held by States, which, as set out in Guiding Principle 9, should
maintain adequate domestic policy space to meet their human rights obligations when
pursuing business-related policy objectives with other States or business enterprises, for
instance through investment treaties or contracts. The importance of due diligence and
human rights impact assessments in the context of trade and investment agreements has
also been consistently raised by other entities of the United Nations human rights system.16
19.
The former Special Representative of the Secretary-General on the issue of human
rights and transnational corporations and other business enterprises devoted a significant
portion of his mandate to these questions, focusing in particular on: (a) State-investor
contracts and the effect of “stabilization clauses” on the policy space of States to protect
16
6
For example, the Special Rapporteur on the right to food developed guiding principles on human
rights impact assessments of trade and investment agreements (A/HRC/19/59/Add.5). See also the
statement by the Committee on Economic, Social and Cultural Rights entitled “Globalization and
economic, social and cultural rights” (1998).
Select target paragraph3
Connect to a paragraph
Connect to an entity
Disable highlights
Add to table of contents