In June 2017, Kazakhstan became an associate member of the Investment Committee of the Organization for Economic Cooperation and Development (hereinafter - OECD) and the 48th country to join the OECD Declaration on International Investment and Multinational Enterprises.
As part of joining the OECD Investment Committee, the Government of Kazakhstan has undertaken a number of commitments, including the dissemination of principles of responsible business conduct in accordance with the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct (hereinafter – the OECD Guidelines).
The OECD Guidelines are an integral part of the OECD Declaration on International Investment and Multinational Enterprises.
Enterprises/investors (hereinafter referred to as enterprises) bring significant benefits to the economy of the country receiving investments in the form of productive capital, managerial and technological know–how, job creation and tax revenues.
At the same time, there are social issues arising from the activities of such enterprises which might cause certain negative consequences for the population and society in the social, economic and environmental sectors.
The OECD Guidelines contribute to solving these problems by providing recommendations on voluntary principles and standards for responsible business conduct in accordance with local and international legislations.
The OECD Guidelines are the only comprehensive code of conduct for enterprises approved on a multilateral international basis. In particular, it addresses public issues related to the social, economic and environmental impact of an enterprise's activities for the communities where they operate (including those outside the OECD). It provides an important framework for businesses to promote responsible business conduct.
Although the OECD Guidelines are supported by governments, they are voluntary and are not intended to prevail over national legislation. The Guidelines are not intended to create differences in treatment between multinational and domestic enterprises. They reflect best practices for all enterprises of any size and location.
The OECD Guidelines cover all key areas of business responsibility, including human rights, labour rights, environment, bribery and corruption, consumer interests, disclosure, science and technology, competition, and taxation. The 2023 edition of the OECD Guidelines provides updated recommendations for responsible business conduct across key areas, such as climate change, biodiversity, technology, business integrity and supply chain due diligence, as well as updated implementation procedures for the National Contact Points for Responsible Business Conduct.
