August 4, 2023 | less than a minute read

Update of OECD Guidelines on Responsible Business Conduct: what has changed and is it significant?

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Mark Temme

Global Business Development Manager

Get in touch

Mark Temme

Global Business Development Manager

At the 2023 Meeting of the OECD Council in June this year, the Guidelines for Multinational Eneterprises on Responsible Business Conduct have been updated first time after 2011.

Some of the key changes are:

- increased expectations concerning environmental management

- clarification of risk-based due diligence in regard to the gathering and use of data

- updated recommendations on sustainability disclosures

- recommendations for businesses in regard to lobbying activities

51 countries that follow the Guidelines were involved in the update of the Guidelines.

More on the guidelines can also be found at http://mneguidelines.oecd.org/targeted-update-of-the-oecd-guidelines-for-multinational-enterprises.htm .

The Guidelines represent what governments have collectively agreed should serve as the common rules for responsible business conduct going forward. It is now up to governments to legislate, businesses to implement, and civil society to support, monitor and engage. It is in all our interests to see these standards realised. We have little time left to act.