How to be a responsible business
The OECD has issued guidelines on how to be a responsible, sustainable multi-national business.
OECD Guidelines for Responsible Business Conduct
New Zealand joined the Organisation for Economic Co-operation and Development (OECD) in 1973 and has a number of obligations as a permanent member country. One such obligation is the promotion of OECD voluntary guidelines and recommendations on responsible, sustainable multi-national business conduct.
These guidelines outline standards of behaviour and good practice which are additional to the laws of the countries where a business operates and are intended to build trust and confidence in businesses and markets, which encourages investment and contributes to economic growth.
The guidelines set out the expectation that the private sector grow their business responsibly by integrating the management of risks to the environment, people and society. They encourage the positive contributions businesses can make by promoting human rights, following sustainable practices and boosting social development around the world.
The guidelines are unique because they cover all major areas of business ethics including information disclosure, human rights, employment and labour, environment, anti-corruption, and consumer interests. The guidelines also encompass science and technology, competition, and taxation which are not as fully covered by other international standards.
In addition to the guidelines, the OECD has published a number of due- diligence guidance documents. The OECD Due Diligence Guidance for Responsible Business Conduct provides practical support to enterprises on the implementation of the OECD Guidelines for Multinational Enterprises by providing plain-language explanations of its due diligence recommendations and associated provisions. There is also sector-specific guidance for areas such as the extractive sector, mineral supply chains, agricultural supply chains and garment supply chains among others.
To find the Guidelines and learn more about them, please follow this link: https: //www. mbie. govt. nz/business-and-employment/business/trade-and-tariffs/oecd-guidelines-for-multi-national-enterprises/
