Soft law…can provide…guidance on how to incorporate human rights practices into business models...[N]ational contracting agencies may increasingly take into account human rights factors when assessing bids…Furthermore, some states already seek to benchmark bidders for state contracts using sustainability reporting mechanisms…[F]inancial institutions…have equally been under pressure to ensure that borrowers can demonstrate compliance with human rights principles…NGOs are…able to bring complaints…using soft law mechanisms…[S]oft laws can be used…to mitigate investment risk in jurisdictions where domestic law is less developed…[and] provides useful guidance…[S]ome governments have [even] started to bring in binding human rights-related legislation requiring companies to report on activity which could have human rights implications...Given the ability of financial institutions and states to incorporate soft law-based covenants, and the ability of NGOs, amongst others, to take action under soft law instruments, there may be hard consequences for those who fail to observe them.