The OECD Guidelines for Multinational Enterprises on Responsible Business Conduct (OECD Guidelines) are internationally agreed standards for responsible business conduct. Governments, including the Australian Government, expect multinational enterprises to comply with these recommendations.
Areas of responsibility
The OECD Guidelines were first introduced in 1976 and are periodically updated to ensure they remain fit for purpose as societal challenges and the international business environment evolve.
The OECD Guidelines cover a broad range of topics related to responsible business conduct including:
- disclosure policies
- human rights
- employment and industrial relations
- the environment
- combatting bribery and other forms of corruption
- consumer interests
- science, technology and innovation
- competition
- taxation.
Australia and the OECD Guidelines
The Australian Government expects multinational businesses operating in or from Australia to act responsibly, including by implementing the responsible business conduct standards set out in the OECD Guidelines.
The OECD Guidelines aim to ensure that the activities of multinational enterprises align with society’s needs and
that adverse impacts arising from their operations, products or services are minimised.
The OECD
Guidelines supplement Australian domestic law but are not legally binding.