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).

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