Standards of responsible business conduct touch on most areas covered by the sustainable development goals (SDGs).
Implementing the principles and standards of responsible business conduct can help companies operationalize sustainable development and ensure that their most significant impacts are prioritized.
The principles and standards of responsible business conduct expect that all companies – regardless of their legal status, ownership, or sector – 1) positively contribute to the economic, environmental, and social progress of the countries where they operate, and 2) avoid and address negative impact of their activities, including in their supply chain. These expectations are outlined in key international instruments and agreements related to responsible business conduct, such as the OECD MNE Guidelines, the UN Framework for Business and Human Rights, and the International Labour Organization’s (ILO) Tripartite Declaration on principles concerning multinational enterprises and social policy and fundamental conventions. Many of these expectations are also embedded in domestic legislation.