Shaping Global Business Conduct: The 2011 Update of the OECD Guidelines for Multinational Enterprises

Abstract

This article discussed an update of the OECD Guidelines for Multinational Enterprises, the fifth revision since their adoption in 1976. The author points out that the update achieved its objective of redefining the “gold standard” for responsible business conduct in a global context. However, while a successful update was a necessary condition for a further increase in the impact of the Guidelines, it is not a sufficient one.

Keywords:

• OECD
• multinational corporations
• global business
• sustainable development

Additional information

Notes on contributors

Manfred Schekulin

Manfred Schekulin ([email protected]) is Director of Export and Investment Policy at the Austrian Federal Ministry of Economy, Family and Youth and chair of the OECD Investment Committee. This Perspective represents his personal assessment. The author wishes to thank Marie-France Houde, coordinator for the 2011 update, for her input, and Paul Hohnen, Vernon MacKay and Ursula Wynhoven for their helpful comments on this text.