"ILO revises its landmark Declaration on multinational enterprises"

...The revision of the Declaration by the ILO Governing Body responds to new economic realities, including increased international investment and trade, and the growth of global supply chains. It also takes into account developments since the last update in 2006 within and outside the ILO, including new labour standards adopted by the International Labour Conference, the Guiding Principles on Business and Human Rights endorsed by the Human Rights Council in 2011, and the 2030 Agenda for Sustainable Development. The revision has enriched the MNE Declaration by adding principles addressing specific decent work issues related to social security, forced labour, transition from the informal to the formal economy, wages, access to remedy and compensation of victims...It also provides guidance on “due diligence” processes ‒ consistent with the UN Guiding Principles on Business and Human Rights ‒ in achieving decent work, sustainable businesses, more inclusive growth and better sharing of the benefits of FDI, particularly relevant for the achievement of Sustainable Development Goal 8...