With the publication of the Terms of Reference for an update of the OECD Guidelines for Multinational Enterprises the OECD has officially signaled the start of the long expected update process of the OECD Guidelines. Work on the update will start in end of June 2010.
Already during the Annual Meeting of NCPs and CSR Roundtable in June 2009 there was talk about a possible update of the OECD Guidelines. The wish for such an update was furthermore expressed at the OECD Council Meeting at Ministerial level when ministers from OECD and non-member countries welcomed “further consultation on the updating of the OECD Guidelines to increase their relevance and clarify private sector responsibilities”.
After consultations with BIAC, TUAC and OECD Watch in October and December 2009 and March 2010 the 42 governments adhering to the Guidelines for Multinational Enterprises have on 30 April 2010 agreed on the terms of reference for carrying out an update of the Guidelines. Work on the update will start on the occasion of the June 2010 Annual Meeting of the National Contact Points (NCPs) with the broad aim of completing the update in 2011. Discussions at 2010 Roundtable on Corporate Responsibility to held 30 June and 1 July 2010 will specifically center on supply chains, human rights and environment/climate change in relation to the OECD Guidelines.
Read the final terms of reference for the update of the OECD Guidelines here.