Multinational companies are facing increased pressure to ensure that they have adequate ESG-related policies in place and (more importantly) that they are implementing those policies in practice within both their business and associated supply chains via appropriate systems and controls. Companies that are found not to have implemented or adhered to those policies face increased
On 8 June 2023, during their Ministerial Council Meeting in Paris, the Organisation for Economic Co-operation and Development (“OECD”) launched an updated version of its Guidelines for Multinational Enterprises (the “Guidelines”). This is the first update to the Guidelines since 2011 and the changes represent substantial and far reaching new expectations for multinationals, particularly in relation to areas of their operations or business which may have human rights or environmental implications. This update sets out a brief overview of the OECD Guidelines and some of the key updates since the 2011 Guidelines.Continue Reading A new era for human rights and environmental due diligence: the OECD launches updated Guidelines for Multinational Enterprises