Updating the OECD Guidelines for Multinational Enterprises
14.06.2023
On June 8, 2023, the OECD Ministerial Council approved amendments updating the OECD Guidelines for Multinational Enterprises (hereinafter the Guidelines). Guiding Principles cover all key areas of Responsible Business Conduct ("RBC"), including human rights, labor rights, environment, bribery, consumer interests, information disclosure, science and technology, competition and taxation, and are widely applied in the business practices of multinational enterprises and public policy. Since its adoption in 1976, the Guidelines have been continually updated to remain fit for purpose given social challenges and the changing international business environment. 2023 update reflects a decade of experience since the last update in 2011 and reflects urgent social, environmental, and technological priorities facing the community and businesses. Main updates contain: - guidance for businesses on climate change and biodiversity in accordance with international standards; - guidance on due diligence in the development, financing, sale, licensing, trading and use of technology, including the collection and data usage; - guidance for businesses on due diligence on the implications and business relationships related to the use of goods and services; - improving the protection of individuals and groups at risk, including individuals expressing concerns about RBC; - guidance for the disclosure of information on RBC; - due diligence guidance on all forms of corruption; - guidance to businesses on how to ensure that lobbying activities comply with the Guidelines; - updated procedures to ensure visibility, efficiency and functional equivalence of National Contact Points (hereinafter referred to as NCPs). It should be noted that the updated Guidelines will also serve to support the objectives set out in the Declaration on Promoting and Enabling RBC in the World Economy approved at the Ministerial Meeting on RBCs on 14-15 February 2023. Update drafted by 51 supporters of the OECD Declaration on International Investment and Multinational Enterprises and the European Union participating in the OECD Working Party on RBC and the OECD Investment Committee. Besides, the update was facilitated by the close involvement of institutional stakeholders, business, the Trade Union Advisory Committee to the OECD and OECD Watch, representing the views of millions of businesses, workers and civil society around the world. It should also be noted that the first webinar on key changes to the Guidelines will be on September 7 of this year.
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