compensation law but stakeholders have suggested that the law was not fully applied. For example, it was said during stakeholder interactions that the level of compensation provided for under the law was far lower than the cost of compliance. Employers were therefore more inclined to compensate injured workers than to observe safety standards. Environment 687. The CRM notes that Tanzania started implementing the Kyoto Protocol on Climate Change in February 2005 and has already developed a Cleaner Development Mechanism (CDM) and guidelines on how to prepare a CDM project. CDM projects are already underway. The country is a signatory and has acceded to other environmental treaties that include: the Convention on Biological Diversity ratified on 8 March 1996; the Convention for the Protection, Management and Development of the Marine and Coastal Environment of the Eastern African Region and Related Protocols, ratified on 1 March 1996; the United Nations Convention to Combat Desertification, ratified in April 1997; the United Nations Framework Convention on Climate Change ratified in April 1996; The Vienna Convention on the Protection of the Ozone Layer and Montreal Protocol on Substances that Deplete the Ozone Layer, acceded to on 7 April 1993 and 16 April 1993, respectively; the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and their Disposal, acceded to on 7 April 1993; and, the Bamako Convention on the Ban of the Import into Africa and the Control of Transboundary Movements of Hazardous Wastes within Africa, ratified on 7 April 1993. III. Recommendations: 688. The APR Panel recommends that the United Republic of Tanzania: • Consider, in cooperation with the private sector, applying corporate governance standards and practices beyond listed companies, giving more attention to small and medium-sized enterprises; [Ministry of Trade, Industry and Marketing, BRELA, the Registrar general, Zanzibar] • Establish a task force to significantly improve the capacity of regulators and supervisors to effectively enforce corporate governance codes and standards for all business enterprises; [Ministry of Trade, Industry and Marketing, BRELA, the Registrar general, Zanzibar] and, • Launch, in cooperation with the private sector, public awareness activities in standards and codes of corporate governance through the media, publications and trainings. [Ministry of Trade, Industry and Marketing, BRELA, the Registrar General, Zanzibar, business associations] 5.3 Assessment of the Performance of APRM Objectives Objective One: Promoting an Enabling Environment and Effective Regulatory Framework for Economic and Business activities l. Summary of the CSAR 689. According to the CSAR, the Tanzanian corporate governance framework consists of various laws for establishing and operating corporations, laws on fair competition, specific laws for banks and financial institutions, insurance laws, and laws that regulate business and corporate behavior in specific industries, such as the aviation industry, water and energy, marine transport, food and drugs, and so on. A myriad of institutions have also been established to administer and enforce these laws. In addition to the overall framework for establishing corporate entities, there are laws that provide additional governance guidelines. These sector-specific laws, including the Banking and Financial Institutions Act of 2006; the Microfinance and Micro-credit Activities Regulations of 2005, are in conformity with internationally-accepted standards. 142