Responsible Business initiatives: Rising expectations

There is increasing pressure on businesses from the public, consumers, shareholders and governments to show that they operate in a responsible manner. At this online event, Minister Dara Calleary will comment on challenges and opportunities in this evolving environment. Department officials will then explain three initiatives of which enterprises should be aware. These are:

(1) The OECD Guidelines for Multinational Enterprises on Responsible Business Conduct (RBC)are standards which multinational enterprises are expected to meet, and which OECD member countries have committed to uphold via the work of National Contact Points (NCPs). The Guidelines deal comprehensively with various aspects of responsible business conduct and provide non-binding principles and standards in a global context. In 2023 the Guidelines underwent a set of targeted updates which changed the expectations of businesses in several key areas.

(2) The EU proposal for a prohibition on products made with forced labour on the Union market, is designed to eradicate the use of forced labour and promote decent work and labour rights worldwide. This Regulation lays down rules prohibiting economic operators from placing and making available on the Union market or exporting from the Union market products made with forced labour with a view to improving the functioning of the internal market, while contributing to the fight against forced labour.

(3) The proposed EU Directive on Corporate Sustainability Due Diligence seeks to address corporate behaviour and due diligence processes for companies within its scope. The proposal will create legally binding obligations on companies within scope to address the adverse environmental and human rights impacts arising from in relation to their own operations, their subsidiaries' operations and their chain of activities.