On 5 June 2024, the Latvian National Contact Point for Responsible Business Conduct held a meeting at the Ministry of Foreign Affairs, chaired by Alise Balode, Head of the Directorate for Economic Relations, Trade and Development Cooperation of the Ministry of Foreign Affairs. During the meeting, participants discussed the December 2023 OECD report on the evaluation of the National Contact Point and recommendations for improving its functioning.
Representatives of the Ministry of Justice presented the European Union Corporate Due Diligence Directive on Sustainability, adopted in May of this year. The Directive obliges companies and their production and supply chain partners to reduce or eliminate negative impacts on society and the environment, such as harm affecting the ecosystem, or the destruction of natural heritage. In a world of increasing globalisation and rapid technological development, there is a growing public focus on responsible business practices and their reinforcement in legally binding legislation and standards. It acknowledges the important role of business in contributing to economic, environmental and social progress.
The Ministry of Foreign Affairs functions as the Secretariat for Latvia’s National Contact Point for Responsible Business Conduct.
The meeting was attended by representatives from the Ministry of Justice, Ministry of Finance, Ministry of Economy and Ministry of Welfare, State Chancellery, State Labour Inspectorate, as well as from the Institute of Corporate Responsibility and Sustainability, Latvian Chamber of Commerce and Industry and the Employers’ Confederation of Latvia.
For information
In 2004, Latvia joined the OECD Guidelines for Multinational Enterprises. The Guidelines are recommendations for responsible business practices by governments in areas such as human rights, labour rights, the environment, corruption, consumer rights, disclosure of information, science and technology, competition and taxation. 51 countries around the world are part of the Guidelines. In all these countries, a National Contact Point for the implementation of the Guidelines has been established. According to a decision of the OECD Council of Ministers of 2017, a peer review of all National Contact Points is carried out every seven years.
