ECRC and the OECD – The views of our coalition will be represented at an OECD conference on June 15th in Paris on the subject of corporate social responsibility. Prof. Reifner (iff and current chair of ECRC) has been invited to speak in the session 3 on “protecting and educating consumers in the financial sector”. More details about the content of his contribution will follow. OECD CONFERENCE ON CORPORATE RESPONSIBILITY “Consumer Empowerment and Responsible Business Conduct” 15 June 2009 - OECD Conference Centre, Paris, France BACKGROUND : Every year, in conjunction with the Annual Meeting for National Contact Points, the OECD holds a roundtable on corporate responsibility addressing emerging issues and new developments. This year’s event will take place in the midst of a global reflection on the foundations of the international economic system and the role that enterprises and other actors could play in restoring the world economy and gearing it towards a sustainable path. The OECD Guidelines are the sole public corporate responsibility instrument to define, in its Chapter VII, what constitutes responsible business conduct towards consumers. But it is also one of its less known or utilised chapters. It is common knowledge that the interests of corporations and consumers are closely linked and that they are both important actors in international markets. They have also in recent years become more conscious of the challenge of achieving sustainable development. The 2009 roundtable will thus focus on the responsibilities of multinational companies toward consumers and how consumers can encourage multinational enterprises to live up to the recommendations of the OECD Guidelines. Its main objectives are to: • assess the recent evolution of consumer concerns and their impact on business conduct worldwide • determine how multinational enterprises integrate consumers’ interests into their operations and how they encourage consumers to act more responsibly towards society with due regard to their particular needs and culture • discuss the reliability of the information provided to consumers (and their perception) about the health, safety and sustainability about the products they consume • discuss the pros and cons of different policies and instruments to promote responsible business conduct and raise consumer confidence and the role of the OECD Guidelines DRAFT AGENDA 08:30-09:30 Registration and coffee 09:30-10:00 Opening remarks 10:00-11:30 PLENARY SESSION ONE – WHAT CONSUMERS EXPECT OF RESPONSIBLE BUSINESS CONDUCT What are the main drivers of consumer behaviour with respect to corporate responsibility and how consumer behaviour can be shaped? Does “corporate responsibility” mean the same thing around the world? How do consumers convey their concerns to business and governments? The session will discuss inter alia how more globalized and disaggregated production patterns affect consumer traditional concerns over the health, safety and quality of the products they consume. It will also assert how new concerns (notably on human rights violations, environmental degradation and non-renewable resource depletion) may be modifying consumer habits. The main purpose of the discussion will be to assess how effectively consumers are empowering corporations in responding to their evolving interests as important stakeholders to the OECD Guidelines. 11:30-: 13:00 PLENARY SESSION TWO – THE BUSINESS RESPONSE Consumers are no doubt the major driver of business. Business can help consumers maximise their satisfaction through low prices, product safety and quality, innovation and new products. But enterprises also have the “duty to respect” and obligated to comply with regulatory standards, such as on labelling, health, safety and consumer privacy. They are expected in many societies to assist consumers in making informed decisions and to educate them to be more socially responsible. This session will discuss inter alia corporate initiatives aimed at developing more environmentally friendly and resource-efficient products or educate consumers to reduce waste or buy greener products. It will focus on good corporate practices in integrating consumer interests into business operations taking into account the recommendations made by the OECD Guidelines. 13:00-14:30 Lunch 14:30-16:15 3 parallel sessions PARALLEL SESSION 1 – THE SUPPLY CHAIN CHALLENGE With the globalization of production, consumers have become more aware of the challenges of ensuring the safety and quality of the products at each point along the supply chain. Health and safety are consumers’ top priorities worldwide. In spite of demanding regulatory norms, grave health and safety hazards in internationally-traded consumer products such as food and toys products have occurred, arising public worries and hurting the reputation of producers, retailers and host economies. In addition, consumers are also more conscious that their decisions can have significant human rights implications such as the exploitation of children and workers. Keeping an eye on the OECD Guidelines, what lessons can be learned from recent supply chain failures and how the industry can be more responsive to consumer concerns? How in particular can problems be affectively addressed when they occur in countries which have not adhered to the OECD Guidelines? PARALLEL SESSION 2 – ENERGY CONSUMPTION AND CLIMATE CHANGE: HOW CONSUMERS CAN MAKE A DIFFERENCE Consumers are a powerful ally in the fight against climate change. They can contribute to the reduction of carbon emissions by using available energy more efficiently or moving to climate-safe technologies. For this to happen, however, they need to be sensitized to the impact of their consumption patterns on the environment and have access to affordable clean energy. This also requires the leadership of enterprises and governments in increasing the availability, and reducing the cost, of greener and innovation-led products and encouraging consumers to buy and use them. To take action consumers need to have confidence in claims on climate change that business makes. This parallel session will discuss ways to mobilize consumers in becoming more energy efficient, adopting cleaner technologies and empowering corporations to the climate change cause. It will also discuss how the OECD Guidelines could be used to spread good practices at the international level. ------------------------------------------------------------- PARALLEL SESSION 3 – PROTECTING AND EDUCATING CONSUMERS IN THE FINANCIAL SECTOR The financial crisis has revealed shortcomings in the mechanisms designed to protect consumer interests in some financial markets. Misleading or fraudulent lending practices, inadequate disclosure and excessive risk-taking on the part of both borrowers and lenders are cases in point, as is the failure of regulatory bodies to detect and respond to emerging problems. The discussion will focus on the policies and practices that financial institutions could follow to better protect financial consumers. Specific attention will be paid to the role that financial education and awareness can play in helping consumers to make better financial decisions. The discussion will draw on the work of the OECD Financial Markets Committee. Moderator: [Erich Harbrecht, Vice Chair, OECD Committee on Financial Markets] Presentations : [Expert on financial markets and the behavior of financial institutions] [The point of view of governments] [The point of view of the financial industry] [The OECD Recommendation on Principles and Good Practices for Financial Education and Awareness] Discussion ------------------------------------------------------------- 16:15-17:45 PLENARY SESSION THREE – THE SUPPORTING ROLE OF THE OECD GUIDELINES Chapter VII of the OECD Guidelines recommends that “when dealing with consumers, enterprises should act in accordance with fair business, marketing and advertising practices and should take all reasonable steps to ensure the safety and quality of the goods or services they provide”. This session will discuss ways in which governments could promote corporate initiatives to protect and promote consumer interests and the desirability of considering possible refinements or additions to the OECD Guidelines. 17:45-18:00 CONCLUDING REMARKS --------- OTHER RELATED OECD EVENT: GLOBAL FORUM ON PUBLIC GOVERNANCE The OECD and the Dutch National Integrity Office are organising a Global Forum on Public Governance “Building a Cleaner World: Tools and Good Practices for Fostering a Culture of Integrity”on 4-5 May 2009 in Paris. Decision-makers face continuous challenges in the field of integrity, transparency and accountability. In this time of global financial crisis, the integrity of public officials remains under constant public scrutiny and affects trust in government. To maintain or regain trust, countries increasingly invest their efforts in fostering integrity, transparency and accountability in public sector organisations. Governments are bailing out banks, launching massive stimulus programmes, and giving aid to developing countries in response to the economic and financial crisis. But there are governance and corruption risks. Governments must ensure that every penny counts and is used effectively. Global Forum participants representing governments, business and trade unions, and civil society from more than 50 countries will discuss how to build a cleaner and more ethical market economy. The Forum will map risks of corruption, particularly related to public procurement, lobbying and conflict of interest. See links below. ID: 42815 Author(s): ECRC Publication date: 30/04/09     OECD conference on corporate responsibility – Draft programme (15 June 2009) (210971 Bytes) URL(s): Link to draft programme www.oecd.publicgovernanceforum.org European Business Ethics Forum: Sharing Ideas & Successful Practices

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