A/HRC/33/42 in the policies, practices and obligations of investors, will be necessary in order to realize this. 84. Strong arguments exist for radically reforming the system of investor-State dispute settlements and to reform the investment dispute system. Mechanisms aimed at resolving disputes between investors and States that extend to affected communities and individuals through the use of fact-finding and mediation, and possibly through judicial powers, modelled on a body such as the Inter-American Court of Human Rights, have been proposed. 85. The outdated belief of States that they are in a position to guarantee security for investors while ignoring the human rights of indigenous peoples must be debunked. Investors must take responsibility for assessing the social and political risk associated with their investments. Otherwise, their expectations cannot be legitimate. Dispute resolution systems can no longer exclude those who are most affected by the disputes they purportedly resolve, otherwise their awards lack legitimacy. Full and effective participation of indigenous peoples in accordance with their right to give or withhold consent, together with ensuring equity of remedies, are key principles in moving beyond the current unbalanced and incoherent system. The Special Rapporteur encourages cooperation and creative thinking in that regard and looks forward to developing her final report, in which she will examine the interplay of investor protections and indigenous peoples’ rights and consider how human rights and sustainable development approaches can help inform the future of international investment law. B. Recommendations Contents of international investment agreements 86. International investment agreements must include properly constructed clauses in relation to the right to regulate. These clauses should: (a) Avoid the use of qualifying language with respect to the right to regulate in the public interest; (b) Preserve that right in a manner explicitly consistent with the State duties to protect, respect and fulfil indigenous peoples’ rights in accordance with international law obligations, including international human rights law; (c) Apply to all investor protection standards, such as fair and equitable treatment, full protection and security and indirect expropriation; (d) Be explicit that bona fide measures in the pursuit of human rights do not constitute a breach of international investment agreements and are non-compensable. 87. Mechanisms should be developed to amend existing international investment agreements to include the right to regulate and to mandate respect for human rights. 88. International investment agreements should include respect for human rights as a policy objective in their preambles. 27 27 See, for example, the model bilateral investment treaty agreements of Norway, the International Institute for Sustainable Development and South African Development Community. 19