A/HRC/43/43 businesses that are not involved in providing for a good that is also a human right. States must regulate businesses in a manner that is consistent with all dimensions of States’ obligations, including to fulfil the right to adequate housing. Ensuring that businesses refrain from activities that have a negative impact on human rights in housing through common approaches to due diligence is necessary but often not be sufficient. States may need to ensure, for example, not only that developers do not displace residents from affordable housing, but also that they produce needed affordable housing, that housing is not left vacant and that some of the profits from housing or other economic activities are redirected to ensure the availability of adequate housing for low-income households.78 69. Implementation measures: (a) States must regulate business in order to prevent investments having any negative impacts on the right to housing, including by: (i) Preventing any privatization of public or social housing that would reduce the capacity of the State to ensure the right to adequate housing; (ii) Maintaining a rental regulatory framework that preserves security of tenure and affordable housing for tenants, including through rent caps, controls or rent freezes where needed; (iii) Requiring full and public disclosure of all investments in residential housing to help prevent corruption, money-laundering, tax evasion and tax avoidance; (iv) Establishing independent monitoring bodies to oversee developments, business plans or private investor activity that may have a significant impact on the right to housing; (v) Imposing taxes on residential real estate and land speculation to curb the short-term resale of properties and on residential real estate left vacant; (vi) Removing preferential tax breaks on homeowners and on real estate investment trusts; (vii) Removing incentives for foreign residential real estate investment such as preferential visa and citizenship awards; (b) States must regulate business to comply with States’ obligation to realize the right to housing by all appropriate means, including by: (i) Adopting planning and development approval criteria to ensure that any proposed housing development responds to the actual needs of residents, including affordable housing for low-income households and employment opportunities; (ii) Adjusting taxation measures to incentivize affordable housing and discourage speculation or ownership of housing or land left vacant; (iii) Enabling innovative financing models for affordable housing or upgrading projects; (iv) Requiring the negotiation of binding, human rights-compliant social benefits agreements with local authorities, residents and civil society organizations before any development is approved; (v) Requiring pension funds and other investors to facilitate independent human rights impact assessments prior to investments being approved to ensure investments do not contribute to violations of the right to housing; (c) States should support the important role that households play in producing and upgrading their own housing (through the social production of housing) by ensuring access to land, including through collective or cooperative ownership, commons and other alternative forms of tenure and affordable and sustainable materials; 78 Ibid. 17