The OECD (Organization for Economic Co-operation & Development) has drafted a new code of conduct for multinational companies, which has not been substantially updated since 1976. The code strengthens standards for the environment, workplace conditions, bribery, and corporate governance. These are non-binding recommendations to help multinationals operate in harmony with government policies and with societal expectations. Some OECD member states point out that monitoring compliance to the tougher rules will be difficult.
It is expected the guidelines will be approved at a June 2000 meeting. Public comments are being accepted until February 15, 2000.
http://www.oecd.org/daf/investment/guidelines/newtext.htm
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