News
Print Article

Jersey government recommends using and applying the OECD guidelines for multinational enterprises.

21/06/2024

Introduction

  1. The Jersey government encourages companies to use the OECD guidelines for Multinational Enterprises on Responsible Business Conduct (guidelines) [links are found at the end of this update].
  2. The guidelines promote a code of business conduct for use in a global environment and are consistent with internationally recognised standards.
  3. As part of Jersey government’s promotion of the standards and guidelines a Jersey National Contact Point (JNCP) has been appointed to
    • Promote general awareness of the guidelines to all relevant parties on the island and
    • To assist with any queries relating to potential specific instances.

You can complain.

  1. You can raise a complaint with the JNCP if you believe a company has breached the guidelines. Any compliant must include detailed information about what specific part, or parts, of the guidelines are being breached along with evidence for this.
  2. The first approach of any National Contact Point is to facilitate conciliation or mediation between the complainant and the company.
  3. OECD guidelines for Multinational Enterprises on Responsible Business Conduct

The OECD most recently revised its guidelines in June 2023.

  1. This update reflects a decade of experience since their last review in 2011 and responds to the current social, environmental, and technological priorities facing societies and businesses.

The aim of the guidelines

  1. Use of the guidelines is voluntary and does not override local laws and legislation.
  2. The aim is to encourage companies to enhance their contribution to sustainable development in order to influence positive economic, environmental and social change by adhering to the guidelines.
  3. The guidelines also include a non-judicial mechanism where interested parties can instigate a dispute procedure known as a specific instance if they have a grievance related to the implementation of the Guidelines by companies.

2023 updated Guidelines

The OECD updated its guidelines on 8 June within the context of the 2023 OECD Ministerial Council Meeting.

Key updates include:

    1. Recommendations for enterprises to align with internationally agreed goals on climate change and biodiversity.
    2. Inclusion of due diligence expectations on the development, financing, sale, licensing, trade, and use of technology, including gathering and using data
    3. Recommendations on how enterprises are expected to conduct due diligence on impacts and business relationships related to the use of their products and services.
    4. Better protection for at-risk persons and groups, including those who raise concerns regarding the conduct of businesses.
    5. Updated recommendations on disclosure of responsible business conduct information
    6. Expanded due diligence recommendations to all forms of corruption.
    7. Recommendations for enterprises to ensure lobbying activities are consistent with the Guidelines.
    8. Strengthened procedures to ensure the visibility, effectiveness, and functional equivalence of National Contact Points for Responsible Business Conduct

The Jersey National Contact Point is:

Find further information on OECD Guidelines for Multinational Enterprises on Responsible Business Conduct

JERSEY

The Team

Meet the team of industry experts behind Comsure

Find out more

Latest News

Keep up to date with the very latest news from Comsure

Find out more

Gallery

View our latest imagery from our news and work

Find out more

Contact

Think we can help you and your business? Chat to us today

Get In Touch

News Disclaimer

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.