OECD STANDARDS OF RESPONSIBLE BUSINESS CONDUCT FOR THE DEVELOPMENT INSTITUTIONS

Антонина Левашенко Антонина Левашенко Chief of Center Russia-OECD published in Investments · Corporate governance · Competition
OECD STANDARDS OF RESPONSIBLE BUSINESS CONDUCT FOR THE DEVELOPMENT INSTITUTIONS

OECD STANDARDS OF RESPONSIBLE BUSINESS CONDUCT FOR THE DEVELOPMENT INSTITUTIONS. Business Breakfast at the St. Petersburg international economic forum (SPIEF) on June 8 2019.

For the last 4 years, we have been dealing with responsible business issues.Behind this seemingly formulaic phrase lies a rather pragmatic approach in the world, based on the concept of "do no harm vs getting profit".

Since the end of the XX century, the OECD has been developing and systematizing standards for companies in different sectors, the implementation of which through a coherent step-by-step methodology can reduce non-financial business risks which very often then become financial. So what do we see today? Today, the company's internal compliance with OECD standards is:

  • green light for export to most of the world
  • at least a green light for investment in the project
  • reducing the risk that you will lose in an international/national court because of "behaving irresponsibly" (there are more and more such cases)
  • guarantee that your project will not face the risks that you did not expect (from the issues of roof collapse to the issue of workers 'strikes)
  • ability to cooperate with international projects and enter into international transactions.

Today at the OECD site there is a need to adopt common standards for responsible business conduct for other entities – the development institutions. are holding our business Breakfast at the SPIEF, on the 8th of June 2019. Gratis. Link:

https://www.forumspb.com/programme/partner-events/72650/

Where we will talk and become a little more responsible, probably :) As a lesser evil. As more - we will take part in the international project on the formation of such standards together with the OECD and other development institutions.

Translation by: Boryana Kiskinova