Internet giants Microsoft, Yahoo and Google announced they have reached an agreement on a voluntary code of conduct in countries where censorship is a current practice, such as China. Just days before the Olympics, the three Internet leaders, together with other Internet companies, responded to a letter sent by U.S. Sen. Dick Durbin (D-IL) and Tom Coburn (R-OK) last month.

 In the letter, the Senators demanded an update on the long-planned voluntary code of conduct discussed in the May hearing on global internet freedom and corporate responsibility chaired by Durbin. The code was intended to regulate the actions of Internet companies that have business operations in countries where Internet use and content is restricted.

“It is critical to the protection of fundamental human rights that a voluntary code of conduct be finalized and implemented as soon as possible,” the Senators wrote at the time, adding that together with major American Internet companies, they agreed to promote free speech and not facilitate repression. The Senators explained that the voluntary code would promote freedom of expression, and at the same time, protect the privacy of Internet users around the world.

The letters sent by Microsoft, Yahoo and Google to Sen. Durbin this week have similar content, but still lack a detailed description of the code. Meanwhile, while they’re still working on the details and review the agreement before a final approval, Sen. Durbin noted that while American Internet companies operating in repressive countries should “do everything possible to resist censorship and protect user privacy and freedom of expression, especially with the Olympics beginning in China later this week.”

According to the letters, here are the three principles that the Internet organizations have agreed to under the voluntary code of conduct:

-          Principles on Freedom of Expression and Privacy that provide direction and guidance to the information, communications, and technology industry and its stakeholders in protecting and advancing the enjoyment of freedom of expression and privacy globally.

-          Implementation Guidelines that provide further details on how participating companies will put the principles into practice.

-          A Governance, Accountability and Learning Framework that provides an organizational and multi-stakeholder governance structure to support the principles and system of independent assessment to review implementation by the participating companies.

Google said in its letter, regarding the censorship requests from the Chinese government, that they have established a track record of filtering less and providing more transparency than any other search engine in China. Furthermore, Google urged the U.S. government “to continue to use trade agreements and other trade tools to promote the free flow of information on the Internet, and to seek binding commitments wherever possible.”

Durbin said in a press release this week that American Internet companies should oppose censorship and protect fundamental human rights even before the code of conduct is finalized. “I look forward to learning more about the details this agreement and whether it will adequately regulate American companies in Internet-restricting countries.”

Censorship came once again to the attention of the media after journalists reporting from Beijing before the Olympics complained about blocked Web sites, despite promises from IOC that reporters will not face the same restrictions as Chinese citizens (in the meantime, Chinese authorities have eased some of the restrictions for foreign journalists during the Olympic Games).