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This OECD report was presented at the G20 meetings in Washington on 13-15 April 2016. The report provides an update on recent developments concerning the OECD Code of Liberalisation of Capital Movements, in particular the launch of the review of the Code.
This report presents an overview of existing environmental credit lines in the EU’s Eastern Partnership (EaP) countries (Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine), which are mostly supported by International Finance Institutions and donors and disbursed by local commercial banks. Lessons learned from this type of credit-line implementation provide useful insights for spurring the banking sector into financing green investments.
Regulators operate in a complex, high-risk environment at the interface between the public and the private sectors. They often share some responsibilities for the sectors and industries they regulate with other public institutions. And yet, if the lights go out, tap water stop running, trains break down or phones stop working, they are often held to account. In this challenging environment, the governance of regulators is critical. The role of the regulator and how it co-ordinates with other public institutions, the powers it is given and how it is held accountable for exercising these powers are key elements of a governance architecture that needs to be carefully crafted and appropriately implemented if the regulator is to succeed in combining effective regulation with a high level of trust. This report looks at the way in which four regulators – the Australian Competition and Consumer Commission (ACCC), the Australian Energy Regulator (AER), Portugal’s Water and Waste Services Regulation Authority (ERSAR) and the UK Office of Rail and Road (ORR) – have addressed these governance challenges. The report identifies approaches to implement accountability, transparency and co-ordination and helps identify some lessons that can help guide how these principles can be translated into practice.
Trade and investment in natural mineral resources hold great potential for generating income, growth and prosperity, sustaining livelihoods and fostering local development. However, a large share of these resources is located in conflict affected and high-risk areas. In these areas, exploitation of natural mineral resources is significant and may contribute, directly or indirectly, to armed conflict, gross human rights violations and hinder economic and social development. The OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas provides step-by-step management recommendations endorsed by governments for global responsible supply chains of all minerals, in order for companies to respect human rights and avoid contributing to conflict through their mineral or metal purchasing decisions and practices. The Due Diligence Guidance for minerals may be used by any company potentially sourcing any minerals or metals from conflict-affected and high-risk areas, and is intended to cultivate transparent, conflict-free supply chains and sustainable corporate engagement in the minerals sector.
The Slovak Republic joined the European Union in 2004, the Schengen area in 2007 and the euro in 2009. These events, coupled with decentralisation reform and the creation of administrative regions, have brought significant change. While overall growth has been impressive compared to OECD countries overall, benefits have not accrued equally across the country. Public investment could potentially improve regional conditions and attract private funding, but governance bottlenecks stand in the way. This case study shows that the main obstacles to effective public investment are linked to high local fragmentation as well as the challenges national and subnational administrations face in designing and implementing investment strategies that correspond to local needs. Drawing on a detailed set of indicators, the study provides recommendations to address these challenges and make the most of public investment in the Slovak Republic.
Since the start of the economic reform process in the 70s China has been able to generate a large volume of investment, both from domestic and foreign sources. This high volume of investment was instrumental in sustaining strong economic growth and related improvements in living standards. However, this growth model is not longer sustainable. Returns on investment have fallen, excessive capacity is plaguing several sectors and the negative externalities have been very onerous, notably in terms of environmental degradation and rising income inequality. A key objective of the Chinese government is therefore to move the economy towards a more balanced, sustainable and inclusive growth path as envisaged by the 13th Five-Year Plan. In this adjustment process, the country is seeking new approaches for smarter, greener and more productive investment. This will require mutually reinforcing reforms to improve investment planning, rebalance the role of government and market forces, mainstream responsible business conduct and encourage greater private investment, especially in green infrastructure. China’s growing role as an outward investor may act as catalyser for the required reforms at home, as Chinese private and state-owned enterprises have to adopt internationally recognised practices and standards .
16 March 2016, Paris: Chaired by the Italian Minister of Justice, Andrea Orlando, the OECD will host a Ministerial Meeting on the Anti-Bribery Convention to discuss measures to strengthen implementation of the Convention and to exchange ideas on combating foreign bribery and emerging issues.
Encouraging employees to report wrongdoing, and protecting them when they do, is an important part of corruption prevention in both the public and private sectors.
Whistleblower protection is essential for safeguarding the public interest, for promoting a culture of accountability and integrity in both public and private institutions, and for encouraging the reporting of misconduct, fraud and corruption wherever it occurs. While many countries are increasingly developing legal frameworks to protect whistleblowers, more can be done to mainstream integrity and promote open organisational cultures. This report analyses whistleblower protection frameworks in OECD countries, identifies areas for reform and proposes next steps to strengthen effective and comprehensive whistleblower protection laws in both the public and private sectors.
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An open and transparent international system of orderly capital flows can underpin global growth and stability. This paper explains the benefits of adhering to the OECD Code of Liberation of Capital Movements which is open for adherence by all countries with equal rights, privileges, and responsibilities.