Today, 8 June 2023, the OECD released a “targeted update” of the OECD Guidelines for Multinational Enterprises. Negotiations on the newly renamed “OECD Guidelines for Multinational Enterprises on Responsible Business Conduct” inevitably involved trade-offs and compromises. Nevertheless, OECD Watch believes the net result is positive. The majority of updates strengthen this authoritative global standard on responsible business conduct (RBC). In many areas, the updates reinforce and therefore bolster other leading international norms on RBC, and on some topics the new Guidelines advance normative standards.
OECD Watch has prepared a short statement and longer briefing paper on the updated Guidelines.
The 2023 version of the OECD Guidelines is available for download in English and French via the OECD’s website.