|On 8 June 2023, the OECD launched its newly updated Guidelines for Multinational Enterprises on Responsible Business Conduct (the Guidelines).|
The Guidelines are recommendations jointly addressed by governments to multinational enterprises to enhance the business contribution to sustainable development and address adverse impacts of business on people, planet and society. The Guidelines are supported by a unique implementation mechanism, the National Contact Points for Responsible Business Conduct (NCPs), established by governments to further the effectiveness of the Guidelines.
Since their introduction in 1976, the Guidelines have been continuously updated to remain fit for purpose in light of societal challenges and the evolving context for international business. The 2023 update responds to urgent social, environmental, and technological priorities facing societies and businesses, and was agreed by the 51 countries that adhere to the Guidelines, including both OECD members and non-members accounting for two-thirds of global trade and investment.
|The updated Guidelines are available here. Key changes include:
· Recommendations for enterprises to align with internationally agreed goals on climate change and biodiversity
· Introduction of due diligence expectations 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 Republic of Croatia adhered to the Guidelines in 2019. More