A/HRC/19/70 developing countries. Concern was expressed that UNCTAD had not incorporated the human rights-based approach into its work, which would have improved the analysis in its LDC reports. As concerns the relationship between the human rights-based approach and the right to development, it was pointed out that the latter differed in the focus it placed on the international dimension. There was a need for deeper discussion on how the right to development could support dialogue on emerging thinking on structural change and causes, as opposed to addressing the symptoms of global inequality. There was a need to move towards positive forms of cooperation and to go beyond aid towards systemic policy coherence. 44. In concluding remarks and addressing specific questions, the panellists inter alia reiterated the importance of systemic integration of various sets of norms in the trade arena. Reference was made to the World Intellectual Property Organization Development Agenda as a successful transformation from a purely technical body to a body looking at systemic integration, although the practical limitations to that agenda were pointed out. Concern was shared that the discussions for Rio+20 appeared to be retrogressive, challenging formerly agreed principles, such as the principle of common but differentiated responsibilities. With regard to the question on the difference between the human rights-based approach and the right to development, it was argued that the human rights-based approach focused on the needs of individuals rather than making the argument about State responsibility. The need for greater human rights-based policy coherence was underlined in order to achieve sustainable development in its social, environmental and economic dimensions. It was argued that, in order to mainstream a human rights-based approach into the work of UNCTAD, a mandate from Member States was needed. It was argued that the human rights framework at present was not fully developed or operational, and required significantly more work in order to become an operational tool in economic analysis. 2. Financing for development 45. Roberto Bissio, Social Watch, speaking on the future of the multilateral aid system and debt relief, explored – on the basis of available data – the differences in development, understood as economic growth versus social development. He referred to recently published data dispelling arguments that there was a need for inequality in order to achieve growth and that growth would eventually lead to redistribution. He pointed to a number of obstacles to realizing the right to development and economic, social and cultural rights and the enforcement mechanisms that were lacking. 46. Andrea Shemberg, legal consultant, speaking on principles for responsible contracts and integrating human rights risks into investment contract negotiations, suggested viewing human rights as a positive element protecting policy space. She referred to the Guiding principles on Business and Human rights and their protect, respect and remedy framework, as well as to the principles for responsible contracts, which aimed at providing a framework for integrating human rights in investment treaties. In her view, there was progress being achieved in the area, but capacity-building was needed. In addition, although a contract might be in line with the principles, that was not a guarantee that investment projects would bring about positive results. 47. Aldo Caliari, Center of Concern, speaking on regulating finance as if human rights really mattered, argued that the recent crises challenged the presumptions relating to State regulation and intervention in financial policies and that the field had been traditionally reserved to elitist expert discussions. Indeed, it was a debate that concerned society as a whole and society thus had to have a say; certainly the human rights community also had its own stake in these debates. He called upon human rights actors to more actively engage in financial regulatory debates and with the relevant actors and bodies. In addition, Mr. Caliari 15