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OECD Instruments as Global Standards in the Field of Responsible Business Conduct

Publication at Faculty of Law |
2018

Abstract

The Organisation for Economic Co-operation and Development (OECD) actively promotes the policy of responsible business conduct and the OECD Guidelines for Multinational Enterprises are among the most important human rights standards mitigating adverse effects associated with business operations on human rights. Even though the OECD Guidelines are non-binding and soft law nature, it creates the unique system of National contact points established in each adherent country.

Next to this "implementation mechanism", other notable element is constant development of the OECD Guidelines as live instrument considering that the OECD has developed sectoral guidance which helps its implementation. The role of the OECD Guidelines as a crucial legal instrument to regulate relationship between business conduct and human rights in the globalised society, strongly influenced by enterprises, is thus undisputable.