2011 Update

The OECD Guidelines for Multinational Enterprises (Guidelines) are the most comprehensive set of non-binding recommendations by governments to multinational enterprises addressing responsible business conduct; covering the areas of disclosure, human rights, employment and industrial relations, environment, bribery, consumer interest, science and technology, competition and taxation. Observance of the Guidelines by enterprises is voluntary and legally not enforceable.

The Guidelines were updated in 2011 following an active consultation process between the OECD, adhering governments, BIAC, TUAC and OECD Watch. The resulting negotiated update was adopted in May 2011 by the 34 OECD members and 8 non-member states (Argentina, Brazil, Egypt, Morocco, Latvia, Lithuania, Peru and Romania). In December 2011, Columbia became the 43rd adherent to the OECD Declaration on International Investment and Multinational Enterprises and thus to the Guidelines.

The Guidelines are part of the OECD Declaration on International Investment and Multinational Enterprises (Declaration), which represents a broader, balanced package of instruments, rights and commitments aimed at promoting foreign investment. The Guidelines have been included in the Declaration to promote good corporate behaviour which helps to maximise the benefits from foreign investment for economically, environmentally and socially sustainable development.

Implementation

The success of the Guidelines will to a large extent depend on their ability to contribute to a global level playing field for business. BIAC will thus continue to urge OECD to undertake determined efforts to encourage emerging markets to adhere to the Guidelines.

Their success is also highly dependent on business’ activities to raise awareness and incorporate the Guidelines in their own codes of conduct for improving corporate responsibility.

BIAC is committed to constructively assist affiliated companies to follow the recommendations of the updated Guidelines and to develop initiatives for the effective implementation of the Guidelines in cooperation with OECD.

Additional reading

BIAC Secretary General's Article on “Towards the successful implementation of the updated OECD Guidelines for Multinational Enterprises”

OECD website on Updated OECD Guidelines for Multinational Enterprises

BIAC Statement on the Adoption of the Update of the OECD Guidelines for Multi-National Enterprises at the OECD Ministerial Council Meeting, May 2011

BIAC Secretariat Note on the Outcome of the Updated OECD MNE Guidelines

VNO-NCW/BDA Brochure on the OECD MNE Guidelines

For further information, please contact Ms. Tabea Kölbel at the BIAC Secretariat.