OECD launches updated guidelines on responsible business conduct

 Rome, 09 June 2023 

The OECD today launched its newly updated Guidelines for Multinational Enterprises on Responsible Business Conduct.
The Guidelines are the globally leading standard on responsible business conduct and widely applied in public policy and business practice. The Guidelines were last updated in 2011. The 2023 update responds to urgent social, environmental, and technological priorities facing societies and businesses.

 OECD (2023), OECD Guidelines for Multinational Enterprises on Responsible Business Conduct, OECD Publishing, Paris  

The updated Guidelines are available here. Key changes include:

· Recommendations for enterprises to align with internationally agreed goals on climate change and biodiversity

· Introduction of due diligence expectations on the development, financing, sale, licensing, trade and use of technology, including gathering and using data

· Recommendations on how enterprises are expected to conduct due diligence on impacts and business relationships related to the use of their products and services

· Better protection for at-risk persons and groups, including those who raise concerns regarding the conduct of businesses

· Updated recommendations on disclosure of responsible business conduct information

· Expanded due diligence recommendations to all forms of corruption

· Recommendations for enterprises to ensure lobbying activities are consistent with the Guidelines

· Strengthened procedures to ensure the visibility, effectiveness, and functional equivalence of National Contact Points on Responsible Business Conduct

The update of the Guidelines was agreed by the 51 countries that adhere to the Guidelines, including both OECD members and non-members accounting for two-thirds of global trade and investment. The update benefitted from close involvement of the institutional stakeholders Business at OECD, the Trade Union Advisory Committee to the OECD, and OECD Watch, representing the views of millions of businesses, workers, and civil society members globally. The process also included two public consultations open to interested stakeholders from all countries.

 

Link to : 

https://mneguidelines.oecd.org/mneguidelines/

OECD (2023), OECD Guidelines for Multinational Enterprises on Responsible Business Conduct, OECD Publishing, Paris