Responsible Business Conduct and Climate Action: how global instruments on
responsible business conduct can support implementation and accountability ofbusiness’ net-zero commitments
Wednesday, 3rd November 2021, 10:00-11:15
Glasgow SEC Centre, Hydro Bowl, Action Room 1 - DavosBusiness momentum in committing to net-zero is growing,
however key questions remain regarding standardisation of
net-zero targets, implementation plans and how to ensureaccountability, credibility and robust action on the part of theprivate sector.
This joint OECD and UNFCCC session will explore howinternationally agreed and recognised instruments on responsible business behaviour, namelygovernment-backed OECD Guidelines for Multinational Enterprises on Responsible Business Conduct(RBC) and related due diligence guidance, can help to ensure net-zero targets are implemented withintegrity, accountability and responsibility – taking into account impacts on both people and theplanet. The event follows on from the joint UNFCCC-OECD event at COP 25 that explored what itmeans for business to act responsibly in the face of a climate emergency.1

Key discussion points
In exploring how RBC instruments can support implementation and accountability of business’ netzero commitments, the discussion will focus on the follow key topics:
1. Momentum in net-zero commitments by business – where we are now and where we areheading.
2. Challenges business and the financial sector are facing in navigating standardisation of netzero commitments and ensuring implementation plans are robust, credible and accountable.
3. The role of the OECD instruments on Responsible Business Conduct in supporting theimplementation of net-zero targets by business, and how available climate-specific technicalstandards and tools can support business in meeting international expectations related toRBC and climate change.
4. Collaboration as the way forward: a call to action

1

Global Climate Action and Responsible Business Conduct: What does it mean for business to act responsiblyin the face of a climate emergency?

Speakers
High level remarks
 Allan Jorgensen, Head of OECD’s Centre for Responsible Business Conduct Gonzalo Muñoz, High Level Champion for Climate Action at COP26 (TBC)
Panellists
 Dr Tom Hale, Associate Professor of Global Public Policy at the Blavatnik School ofGovernment, University of Oxford, “COP26 Fellow” for the UN climate summit in Glasgow inNovember 2021 and chair of the Expert Peer Review Group for the Race to Zero campaign.
 Stephanie Pfeifer, CEO, Institutional Investors Group on Climate Change Peter Bakker, CEO, WBCSD
 Scott Steedman, Vice-President (Policy), ISO and Director-General, Standards BSI
Public sector reflections
Joanna Macrae, Head of International Nature Finance, Department for Environment, Foodand Rural Affairs (DEFRA)
Laura Mora, Coordinator of the Carbon Neutral Country Program in the Directorate ofClimate Change of the Ministry of Environment, Costa Rica

Background to this session
Net-zero implementation plans built on science-based targets that take into account both social andenvironmental objectives are complex to develop and implement. OECD instruments on RBC can play
an important role in this regard – supporting businesses in demonstrating the seriousness of theircommitments, disclosing their progress towards reaching them, and enabling accountability andcredibility at the global level.
The OECD Guidelines for Multinational Enterprises on Responsible Business Conduct (RBC) and related
guidance on supply chain due diligence, represent government-backed and internationally recognised
expectations on how businesses should and can behave responsibly – capturing all areas of business
responsibility and impact, including human rights, labour rights, environment, bribery, consumer
interests, as well as information disclosure, science and technology, competition, and taxation. These
instruments offer a unified framework to guide business in the implementation of net-zero pathways
that are aligned with international expectations on responsible business conduct and embed net-zerocommitments as part of business risk based due diligence processes – including across supply chains.