The Guidelines for Multinational Enterprises are recommendations to international businesses on conduct in such areas as labour, the environment, consumer protection and the fight against corruption. The recommendations are made by the adhering governments and, although they are not binding, governments are committed to promoting their observance.

Part I of this Annual Report provides an account of the actions the 41 adhering governments have taken over the 12 months until June 2008 to enhance the contribution of the Guidelines to the improved functioning of the global economy. In eight years, the Guidelines have consolidated their position as one of the world's principal corporate responsibility instruments.

Every year the OECD holds a roundtable on corporate responsibility, addressing emerging issues and new developments. The 2008 roundtable, jointly organised with the International Labour Organisation, focused on identifying how responsible business practices can lead to better employment conditions and industrial relations; engaging governments in experience sharing on the pros and cons of different public policies to promote responsible business conduct in the area of employment and industrial relations; enhancing the awareness and performance of the OECD Guidelines and the ILO MNE Declaration and developing synergies between the responsible organisations.

Part II of this Annual Report highlights:

• Key findings of the High-Level OECD-ILO Conference on Corporate Social Responsibility
• Corporate responsibility practices in the area of employment and industrial relations
• The impact of foreign direct investment on wages and working conditions
• Development and decent work: new directions for multinational enterprises in shaping a fair globalisation
• An overview of selected initiatives and instruments relevant to corporate social responsibility

Further information and extracts from the publication can be consulted web page of the OECD-ILO Conference on employment and industrial relations