Today, the pressing challenges of climate change, biodiversity loss and inequalities mean that the expectations on businesses to manage their impacts are rising. Businesses have a responsibility to implement good corporate governance – taking into account the interest of all stakeholders, from shareholders to employees, customers, suppliers and the community – and to implement responsible business conduct in their activities and supply chains.
The OECD pioneered efforts to set global standards on expectations for businesses on corporate governance through the G20/OECD Principles of Corporate Governance, and the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct. These standards provide guidance to governments and businesses in developing policies that encourage sustainable and responsible business governance and practices, and guiding businesses in their management, operations and processes.
