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28 Mar 2017

Organisation for Economic Co-operation and Development (OECD)

OECD issues guidance for institutional investors on implementing human rights due diligence

"Responsible Business Conduct for Institutional Investors: Key Considerations for Due Diligence under the OECD Guidelines for Multinational Enterprises", 28 March 2017

This paper...helps institutional investors implement the due diligence recommendations of the OECD Guidelines for Multinational Enterprises in order to prevent or address adverse impacts related to human and labour rights, the environment, and corruption in their investment portfolios. The paper identifies key actions for asset managers and asset owner under each step of the due diligence process and includes discussion of key considerations, such as challenges, existing practices, or regulations specific to the investment sector which may impact due diligence approaches...Under the OECD Guidelines, “due diligence” is a process for identifying, preventing, mitigating and accounting for so-called “adverse impacts” on matters covered by the OECD Guidelines (e.g. human rights, labour, environment, bribery and other integrity impacts, etc.). Due diligence under the OECD Guidelines should be continuous and ongoing, and aimed at avoiding and responding to risks related to issues covered in the OECD Guidelines.