Voluntary codes of conduct can be an important policy tool for improving industry’s environmental performance. They can also be an important tool for industry to demonstrate that they are managing their operations in a manner that will enhance economic growth, ensure environmental protection and address social concerns. This is what is now meant by the term ‘responsible entrepreneurship’ - a term originally put forward in Chapter 30 of Agenda 21.Voluntary codes of conduct can be much more than just words on paper when they are developed with wide-spread industry commitment, continuous support and monitoring, and regular communication of results achieved. The UNEP technical report "Voluntary Industry Codes of Conduct for the Environment" has been developed to:

• provide guidance to industry associations, governments and others on how to develop and use voluntary codes;
• demonstrate what can be achieved by providing real examples from leading voluntary codes; and,
• identify how voluntary codes can used as a tool to contribute to sustainable development.

Chapter 1 provides a broad perspective of voluntary codes, discussing what they can and cannot do, stressing the need for government regulations as a necessary adjunct to voluntary agreements. The range and different types of industry codes are described, and the ultimate role of companies in implementing them is emphasized.Chapter 2 outlines the five critical aspects for making voluntary codes effective in improving industry’s environmental performance. These are:

• Commitment - getting members commitment in implementing a code
• Content - key ingredients of a code
• Collaboration - support and implementation
• Check - monitor implementation and results
• Communicate - communicate progress to those outside the industry

Chapter 3 illustrates how each of these 5 critical aspects and 17 key ingredients can be phased in over time, as experience is gained and resources permit. Chapter 4 reviews future challenges of voluntary codes and provides recommendations for industry associations, governments and non-governmental organizations. The appendices include a list of current voluntary codes in different industry sectors, and examples of international, national cross-sector and industry-specific codes.