With the 2011 revised OECD Guidelines, we have a unique, internationally recognized standard of good corporate governance that has an effective dispute resolution mechanism with National Contact Points. The question for companies is therefore no longer what responsible corporate behavior means, but how it can be effectively implemented in the business context.
For me, as the new chair of the OECD Working Group on Responsible Business Conduct, three issues are in the foreground: first, all National Contact Points must meet the requirements sufficiently. A second emphasis is on policy coherence so that state investment subsidies or the implementation of sustainability and climate change targets are aligned with the OECD Guidelines. A third priority is digitization. For example, we have begun to understand the impact of artificial intelligence on responsible business management. Linked to this is the definition of the requirements that should apply to risk assessments based on Big Data Analytics.