It is important that businesses and investors assess and address the sustainability impacts of their operations, their products and services, and of their supply chains. OECD standards on responsible business conduct set out six due diligence steps that governments expect businesses and investors to implement:

(1) embed responsible business conduct into their policies and management systems

(2) identify and assess actual or potential adverse impacts on people, planet and society

(3) cease, prevent or mitigate these impacts

(4) track implementation and results

(5) communicate how impacts are addressed

(6) provide for or cooperate in remediation of impacts when appropriate

The OECD supports the implementation of risk-based due diligence through hands-on guidance for business leaders and practioners and by facilitatating industry and multistakeholder cooperation to address systemic sustainability challenges in sectors and supply chains, such as agriculture, finance, garment and footwear, and minerals.

The OECD Recommendation on the Role of Government in Promoting Responsible Business Conduct provides 21 concrete steps for governments to promote responsible business conduct, including through legal and regulatory frameworks; leading by examples in their own commercial activities; enabling stakeholder participation; and ensuring access to remedy for people who are impacted by business activities. The OECD supports policy makers with implementation through capacity building and technical support and by facilitating policy co-operation among countries.

OECD standards on responsible business expect businesses and investors to establish or co-oporate in effective grievance mechanisms that are accessible to impacted stakeholders. Governments also have a key role to play in ensuring that judicial or non-judicial remedy mechanisms are available. Governments that adhere to OECD standards on responsible business conduct are required to set up a National Contact Point for Responsible Business Conduct. The National Contact Points are mandated to handle complaints from individuals and groups regarding the conduct of companies operating in or from their countries.