Meeting in Paris on Thursday 31 May, the 35 countries in the Organisation for Economic Cooperation and Development (OECD), plus Romania and 12 emerging countries (Colombia, Lithuania Argentina, Brazil, Costa Rica, Egypt, Jordan, Kazakhstan, Morocco, Peru, Tunisia and Ukraine), adopted a new legal instrument to favour the adoption of more responsible business conduct.
The "OECD Due Diligence Guidance for Responsible Business Conduct" is the first government-backed standard for corporate due diligence on responsible business conduct. It covers all sectors of the economy and addresses a range of risks in business operations and supply chains, including human rights, labour, the environment and corruption.
It aims to inform businesses clearly of their duties on responsible conduct, and to ensure the same rules are applied across the board.
The OECD will work with adhering countries to monitor implementation. Some countries, such as France, have adopted legislation with corporate duties to prevent human rights impacts in global supply chains. Other countries, such as Germany, have committed to monitoring company implementation of due diligence as part of their national action plans on business and human rights.
The measures companies should take include reviewing and updating their corporate policies on issues such as labour, human rights, disclosure and corruption. The companies will have to communicate these measures to their suppliers, include conditions around responsible business conduct in business contracts, and identify and prevent negative impacts in their operations and supply chains. (Original version in French by Emmanuel Hagry)