Addressing the urgent threat of climate change, pollution, and biodiversity loss requires collective action from governments, consumers and the private sector. To beat the clock, holistic and innovative solutions are needed. For business, this includes reducing greenhouse gas emissions and strengthening resilience to climate change in their own operations and supply chains. It also means seeking to understand and address the interlinkages between environment issues and impacts on workers, local communities, and society.
Digitalisation can contribute to global development and can also support businesses in their efforts to act responsibly. At the same time it can also be associated with risks to human rights and other social and environmental harms. As digital technologies evolve at an increasingly rapid rate policy makers must seek to keep pace and establish policy frameworks to ensure the digital economy delivers benefits to society while avoiding harms.
The past five years have demonstrated incredible momentum for sustainable finance policy, initiatives and practice. However in order to ensure this trend contributes to development and environmental objectives it will be critical to ensure it does not move capital away from emerging economies and actually drives the green transition and responsible behavior amongst corporates. RBC standards can help.
Global supply chains
Businesses face multiple challenges in ensuring and building resilient and sustainable supply chains. Implementation of RBC and risk-based due diligence principles and standards can contribute to addressing challenges and harnessing the benefits of open and rules-based trade and investment.
National Contact Points
National Contact Points (NCPs), a unique implementation mechanism of the OECD Guidelines for Multinational Enterprises, play a key role in promotion of RBC and in serving as non-judicial grievance mechanisms contributing to the resolution of issues that arise relating to the implementation of the Guidelines. A wide range of actors have sought the support of NCPs in the past 22 years.
Coherence, alignment, and harmonisation
RBC-related principles are increasingly being integrated in various policies and initiatives across the globe, including legislation. Smart design, international co-operation, promotion of policy coherence, and alignment with international instruments can enhance uptake, save time and costs for regulators and practitioners and ensure the objective underlying these initiatives are met.