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 business practice and public policy. The Guidelines were last updated in 2011. The 2023 update responds to urgent social, environmental, and technological priorities facing societies and businesses.
Key updates include:
- Recommendations for enterprises to align with internationally agreed goals on climate change and biodiversity;
- Recommendations for due diligence 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 updated Guidelines are available: OECD Guidelines for Multinational Enterprises on Responsible Business Conduct_2023