A/HRC/4/99 page 17 58. Participants discussed the draft “Norms on the responsibilities of transnational corporations and other business enterprises with regard to human rights”.9 One NGO participant stressed that the norms served three purposes at the time of their creation. The first was to help companies identify gaps in human rights policies and understand the implications of international standards for their own responsibilities: prior to the draft norms, companies would be referred only to the Universal Declaration on Human Rights. The norms offer a better framework, notwithstanding debates around some of their principles. The second purpose was to create a higher level of debate and concern over business and human rights. Thirdly, the draft norms were meant to be the basis for an enforcement mechanism for direct application to companies, perhaps 20 years from now, as a result of a binding instrument on corporate accountability. It was noted that the draft norms were not intended to be a framework for measuring impact or performance; in that respect the draft norms failed but the debate would clearly continue. It was suggested that the norms could serve as a framework for HRIAs and the human rights policies of companies. 59. The obligations and role of States were also discussed at length. Some participants questioned the focus on increasing voluntary standards for corporations, while the focus should be on State obligations. It was suggested that the right to justice not be privatized, and that participants focus these discussions on helping Governments to better fulfil their obligations - to keep repeating that government capacity is weak may only reinforce the problem. All efforts should support the long-term goal of building government capacity, not creating parallel systems, while addressing short-term issues. There was a need to strengthen the human rights architecture at all levels of the United Nations system, a process that companies can support as advocates. 60. It was suggested that there should be more focus on the role of financial institutions in promoting greater enjoyment of human rights through banking and lending, for example in developing microfinance and lending and deposit activity for poor customers, and establishing property rights so that poor people would have collateral for loans. 61. Reference was made to the intent of multi-stakeholder initiatives in raising awareness of human rights beyond those engaged in project finance. For example, most of the 160 members of UNEP FI will never be involved in project finance, but they have made a commitment and wish to take action to improve their human rights performance, which is what UNEP FI aims to support. A newly established Justice and Human Rights Trust Fund at the World Bank was also discussed in this regard. 62. Participants came back to the importance of exploring synergies and bridging existing initiatives. There was a suggestion that there could be collaboration between OECD and the Berne Union for instance, while others discouraged sole focus on OECD because of the importance of non-OECD players and the private sector. 9 E/CN.4/Sub.2/2003/12/Rev.2.