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UNI America's says a group of leading banks and other public companies in Brazil are to be applauded for committing to the OECD Guidelines on business conduct for multinationals.

Representatives from the Bank of Brazil, Caixa Economica Federal, Eletrobras and Itaipu signed up to the OECD Guidelines earlier this week during the International Day of Finance, celebrating 43 years of the International Affairs Secretariat (SAIN) of the Brazilian Ministry of Finance.

The guidelines bring recommendations on responsible business conduct and establish basic parameters for multinationals in areas including labour rights, the environment, tax, human rights, among others. 

UNI America's Regional Secretary, Adriana Rosenzvaig said, “These banks with the support of SAIN have taken the right decision to improve transparency and standards in the Brazilian finance sector. In a world where the system is so often skewed to the 1% this is a positive step to redress the balance. UNI and its affiliates aim to improve workers’ rights with a broader goal to tackle global inequality. Adhering to international labour standards set by the  ILO and the OECD is one way that the multinationals can prove they are ready to change and adopt a plan for more inclusive growth. This is a significant development. It shows that OECD Guidelines are applicable to the finance industry and all banks should sign up.”