Forty-eight countries have signed up to OECD guidance on due diligence for responsible business conduct.
The guidance is the first government-backed standard for corporate due diligence on responsible business conduct to address a a range of business operations and the supply chain, including human rights, labour, the environment and corruption.
The document was formally adopted this week at the OECD’s annual meeting in Paris.
Angel Gurría, OECD secretary general, said: “The business community has a responsibility to conduct business in a way that takes into account both the bottom line and the impact of their activities on society.
“This guidance is a major milestone in ensuring that governments and business can work together to drive more inclusive and sustainable growth across the world through more responsible business conduct and due diligence across supply chains.”
Measures companies should take include updating and publishing policies on labour, human rights, and corruption; communicating these to suppliers; and including conditions on responsible business in contracts.