OECD Guidelines

The Organisation for Economic Cooperation and Development (OECD) Guidelines are voluntary principles and standards for responsible business conduct in such areas as human rights, disclosure of information, anti corruption, taxation, labour relations, environment and consumer protection.

The guidelines aim to promote the positive contributions multinational enterprises can make to economic, environmental and social progress and to minimize the difficulties caused by their various operations.. These guidelines are applicable to all multinational enterprises and their entities regardless of where they do business. These are non-binding recommendations made by government to companies.

Main recommendations of OECD guidelines for Multinational Enterprises:

• Concept and Principle: sets out the principles that underline the guidelines such as their voluntary character, their application worldwide and the fact that they reflect good practice for all enterprises.
• Disclosure: recommends disclosure on all material matters regarding the enterprise such as, performance and ownership, and encourage communication in areas where reporting standards are still emerging such as social, environmental and risk reporting.
• Employment and Industrial Relations: addresses major aspects of corporate behaviour in this area, including child labour, non-discrimination and the right to bonafide employee representation and constructive negotiations.
• Environment: encourages enterprises to raise their performance in protecting the environment, including performance with respect to health and safety impacts, environmental management systems.
• Combating bribery: covers both public and private bribery and addresses passive and active corruption.
• Consumer interests: recommends that enterprises, when dealing with customers act in accordance with fair business, marketing and advertising practices, respect consumer privacy and take all reasonable steps to ensure safety and quality of goods and services provided.
• Competition: emphasises the importance of an open and competitive business climate.
  Taxation:calls on enterprises to respect the letter and spirit of tax laws and to cooperate with tax authorities.

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