On the issue of sustainable investment and business respect for human rights in the OECD legal instruments
Year: 2025
Type: article
Abstract: It is indicated that the 2030 Agenda for Sustainable Development is the result of an unprecedented global consultative process that reflects the needs and priorities of the maximum number of states and social groups. At the same time, the world community faces numerous challenges, some of which are historic in nature, while others have become relevant only in recent years. Recent studies of progress in achieving the Sustainable Development Goals determine that it is currently insufficient to declare the possibility of achieving the indicators set out in the 2030 Agenda. The study is devoted to the issue of considering aspects of sustainable development and business respect for human rights in the sphere of investment activities in the context of developing international legal and political frameworks for sustainable investment. The relevance of the topic is determined by the need to find tools for promoting the achievement of the Sustainable Development Goals and the responsible involvement of business in these processes. The article analyzed the legal instruments of the Organization for Economic Co-operation and Development that are relevant to the topics of sustainable investment and ensuring business respect for human rights. Special attention was paid to the analysis of the national legal, policy, and programmatic frameworks aimed at Ukraine’s adherence to and implementation of the relevant legal instruments of this international organization. The study revealed the general approach of the Organization for Economic Co-operation and Development, which promotes an unbreakable connection of investment activities with sustainable development, responsible business conduct, and business respect for human rights. It was found that the key legal instruments of this international organization in the investment sphere were updated in 2022-2023. In this regard, the need was identified, and recommendations were made for Ukraine to take these updates into account. In particular, it was proposed to ensure the implementation of the Recommendation of the Council of the Organization for Economic Co-operation and Development on Foreign Direct Investment Qualities for Sustainable Development. Overall, the article highlighted the urgent need for Ukraine to comprehensively develop a legal framework for sustainable investment.
Authors: A. V. Tokunova, V. M. Roshkanyuk, O. S. Bai
Language: English
Subfield: Law
Field: Social Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4416595271