Share

Guidelines for multinational enterprises

Responsible business conduct in the financial sector

 

Operationalizing RBC Due Diligence amongst financial sector practitioners

Promoting Responsible Business Conduct (RBC) in the financial sector is vital to building a sustainable global economy. However certain characteristics of the sector, including diverse and extensive business relationships, a complex landscape of regulatory obligations, and the nature of various transactions, can make the practical application of effective due diligence systems challenging.

The OECD Centre for RBC has worked to operationalize RBC due diligence for different financial transactions and actors through developing fit-for-purpose guidance.

 

 

 

Responsible Business Conduct for Institutional Investors (2017)

ENG | GER | SPA | POL | UKR | JPN

Factsheet: RBC for institutional investors

 

 

Due Diligence for Responsible Corporate Lending and Securities Underwriting (2019)

ENG | SPA | GER | POL | JPN

 

 

 

Responsible Business Conduct Due Diligence for Project and Asset finance transactions

 

 

News and events

 5-7 October 2022 Virtual Event

 

This pioneering annual event convened leading actors across the green finance community to help catalyze and support the transition to a green, low-emissions and climate-resilient global economy.

More information

06/02/2022 - Request for Proposals: ESG metrics and ratings - Mapping and gap analysis study

23/07/2020Workshop on Responsible Financing in BRICS DFIs: International Standards and Practices

 


 

OECD RBC standards play a key role in the sustainable finance ecosystem

RBC standards play an important role in the context of sustainable finance as they provide authoritative and widely accepted recommendations for identifying, managing and reporting on environmental, social and governance impacts associated with clients or investments.

They have been enshrined in sustainable finance regulation and leading standards and initiatives.

 

Examples of RBC integration in key sustainable finance regulations

 

 

  • The EU Taxonomy Regulation and South Africa Green Finance Taxonomy both establish a list of environmentally sustainable economic activities and mandate compliance with the MNE Guidelines as minimum social safeguards
  • The EU Sustainable Finance Disclosure Regulation (SFDR) introduces transparency rules for financial institutions on the integration of sustainability risks and impacts in their processes and financial products, including reporting on adherence to internationally recognized standards for due diligence, specifically that of the OECD
  • The European Central Bank’s guide on supervisory expectations related to climate risk management and disclosure includes recommendations on carrying out due diligence and ensuring compliance with the OECD MNE Guidelines
 

RBC referenced in international standards and initiatives on sustainable finance

 

 

RBC or ESG - What's the difference?

"RBC” and “ESG”  terminology both relate to environmental, social and governance considerations, which drive and define sustainable finance approaches and activities. “ESG” is commonly used to discuss environmental, social and governance issues which pose financial risks. RBC risks refer specifically to the risks of adverse impacts with respect to issues covered by the OECD Guidelines for Multinational Enterprises — impacts on society (including human rights and labour) and the environment, independent of financial impact to the company itself. In practice, RBC risks can also have financial implications (negative or positive) for the company concerned.

 

Reports and resources

Responsible Business Conduct in the Financial Sector in Latin America and the Caribbean

 

Responsible Business Conduct in the Financial Sector in Costa Rica

 

Responsible Business Conduct in the Financial Sector in Panama

 

Business and Financial Outlook 2021: Promoting responsible lending in the banking sector

 

 

ENG |  SPA  |  POR

 

 

ENG  |  SPA

 

 

ENG  |  SPA

 

 

ENG

 

Expert letters and statements on the application of the OECD Guidelines and UN Guiding Principles in the context of the financial sector

 

Due diligence in the financial sector: adverse impacts directly linked to financial sector operations, products or services by a business relationship

 

Scope and application of ‘business relationships’ in the financial sector under the OECD Guidelines for Multinational Enterprises 

 

 

 

 

 

 

 

 

 

 

Contact

barbara.bijelic@oecd.org

benjamin.michel@oecd.org

 

Links

 

RBC and Climate Change

 

RBC and Environment

 

Environmental social and governance (ESG) investing

 

Related Documents