A/69/299 States’ inability or unwillingness to hold transnational corporations accountable may lead to a lack of available and effective remedies against the corporations. 38 43. The Guiding Principles also fail to take into consideration the existing political context, whereby developing countries may be vulnerable to undue influence from transnational corporations. Business interests may be protected at the cost of the human rights of those affected communities that remain dependent on States to hold corporations accountable for violations. Non-binding responsibilities have therefore not prevented transnational corporations from violating human rights. 39 44. In this regard, the Special Rapporteur notes with satisfaction the adoption of resolution 26/9 by the Human Rights Council in which the Council decided to establish an open-ended intergovernmental working group on a legally binding instrument on transnational corporations and other business enterprises with respect to human rights with the mandate to elaborate an internationally legally binding instrument to regulate, in international human rights law, the activities of transnational corporations and other business enterprises. The Special Rapporteur welcomes this opportunity to develop an instrument that will remedy the current imbalance between corporations, States and individuals. 45. There is an urgent need for an international instrument that can address the increasing complexities presented by transnational corporations’ multi -jurisdictional organization and global influence. Moreover, because not all States have a r obust regulatory mechanism, owing either to their poor negotiating power or because they are unwilling to hold domestic corporations accountable for harms caused, obligations should also be conferred on domestic corporations. 46. Along with the required accountability and monitoring mechanisms, a strong and effective enforcement mechanism is needed to remedy and discourage violations. An adjudicatory mechanism to examine individual or State complaints against transnational and domestic corporations should be established. Individuals should have the right to remedy both in their home State and in the home State of the transnational corporation where the latter does not regulate those activities of the corporation that violate the individual’s right to health. 47. In the meantime, a declaration along the lines of the Universal Declaration of Human Rights could be adopted conferring specific human rights obligations on private corporations, especially transnational corporations. Imposing specific human rights obligations would provide a structure to the rights and obligations involved in this paradigm. A. International investment agreements 48. To encourage economic activity and attract investment, States, especially those that are developing and least developed, may enter into international investment __________________ 38 39 14/22 See Iman Prinhandono, “Transnational corporations and human rights violations in Indonesia”, Australian Journal of Asian Law, vol. 14, No. 1 (2013), pp. 1-23; and G. Wass and C. Muslime, Business, Human Rights, and Uganda’s Oil. Part II: Protect and Remedy: Implementing State Duties under the UN Framework on Business and Human Rights (ActionAid International Uganda and International Peace Information Service, 2013). See Chris Albin-Lackey, “Without rules: a failed approach to corporate accountability”, in Human Rights Watch, World Report 2013. 14-59014