OECD Ministers and Representatives on Responsible Business Meeting was held in Paris
15.02.2023
On 14-15 February 2023, OECD Ministers and Senior Representatives met on responsible business conduct and its role in the international investment system. The meeting was held in Paris, France, in a hybrid format. The event was co-chaired by France and the USA, and the list of Vice-Chairs included Canada, Chile, Japan, Morocco and the UK. The event attracted more than 100 representatives from around the world. Kazakhstan was represented by the Minister of National Economy of the Republic of Kazakhstan - Kuantyrov A.S. and the Secretariat of the Kazakhstan National Contact Centre, represented by the Deputy Director of the Centre for World Economy Research of Institute of Economic Research JSC Raipov A.A. The theme of the event was Promoting and incentivising responsible business conduct in the global economy. The following items were on the agenda: • Climate; • Digitalization; • Sustainable Funding; • Global supply chains; • National Contact Points; • Coherence and harmonisation. On the first day of the meeting, a plenary session on "How RBC can contribute to a sustainable and inclusive global economy that benefits all" explored the effective and widespread application of practical RBC tools in global supply chains. Minister of Kazakhstan Kuantyrov A.S. emphasised that in Kazakhstan large companies are actively implementing corporate social responsibility within their activities, which contains elements of RBC. Moreover, in 2022, Kazakhstan business supported the President's initiative to increase real incomes of the population, within the framework of which salaries of employees were raised. "Based on the specifics of our economic system and entrepreneurial mentality, we believe that the application of RBC standards by multinational enterprises as part of their operations should move from voluntary to mandatory in three areas: human rights, environmental protection and labour relations, with prior testing on a voluntary basis." In addition, participants noted that wider market adoption of RBC standards will be important to align private sector actions with policy objectives, particularly in the areas of climate change, digital transformation, SDGs, post COVID-19 recovery, quality infrastructure investment, and responding to the impact of the conflict between the Russian Federation and Ukraine. The first block of the first breakout session on "Strengthening Global Supply Chains through RBC" covered global supply chains and the application of RBC in this area. Ministers and participants discussed current challenges in building sustainable and inclusive supply chains, including labour standards and forced labour issues. The role and importance of internationa.organisations in working together to promote coherence through their capacity-building, training and technical support activities was noted. The theme of the second block of the session is The role of business in supporting global climate goals and ensuring a just transition. The participants shared their views and experiences in implementing RBC standards and tools for responsible transition to zero consumption in their countries. For example, the Minister of Economy of Luxembourg, Franz Fayot, shared his experience of implementing a climate pact to support SMEs in the decarbonisation process and ensure a green transition initiative. The second breakout session covered topical topics such as: "Supporting sustainable finance through the implementation of RBC standards" and "Opportunities for responsible digitalisation". Ministers discussed the role of RBC standards in supporting ESG risk management and sustainability objectives in institutional investment and finance. This block provided a platform for discussion on issues such as the use of data and technology, open digital economy. The benefits to all from responsible global supply chains through the use of technology were highlighted. The second day began with a summarisation of the discussions of the first day of the Ministerial Meeting. This session focussed on discussing key ways to incentivise RBC at national and international levels through a "smart mix" of policies, regulations and market practices. An important topic for discussion was the implementation of the OECD Guidelines for Multinational Enterprises through National Contact Points. NCPs play a key role in promoting RBC, including in policy development and in providing an out-of-court grievance mechanism to address concerns. The last block of the second day of the meeting was dedicated to the Global Forum on RBC, discussing the expansion of RBC in the coming decade. Veronika Nielson, Acting Secretary General of TUAC, highlighted the priorities of the RBC that should be emphasised: • Firstly, the implementation of RBC standards to eliminate the global supply chain; • Second, the use of RBC standards to accelerate the transition; • Third, the implementation of the OECD Guidelines for Multinational Enterprises. In addition, she mentioned some of the challenges faced by NCPs, namely that some multinational companies do not participate in, if not reject, the NCP process for dispute resolution. The meeting was concluded with a closing speech by Christine Kaufmann, Chairman of the OECD Working Group on RBC. She thanked everyone for their participation and noted the importance of further co-operation in the field of RBC.
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