If you don't know what it does then what is the point of asking how to do whatever that is in standard sql? Tell us what DMBS/SQL you are using and we can tell you what its syntax means. After you have read the documentation and googled, if you are still stuck.
That site doesn't mention a DBMS/SQL for that syntax. (Both it and w3schools are poorly written resources which you should not use.) But it seems to give info only on MySQL & Oracle. The first hits from google 'mysql update join' & 'oracle update join' explain the MySQL update join syntax and tell you that Oracle doesn't have it and how to do the same thing in Oracle.
UPDATE table1
INNER JOIN table2 ON table1.value = table2.DESC
SET table1.value = table2.CODE
WHERE table1.UPDATETYPE='blah';
UPDATE
(SELECT table1.value as OLD, table2.CODE as NEW
FROM table1
INNER JOIN table2
ON table1.value = table2.DESC
WHERE table1.UPDATETYPE='blah'
) t
SET t.OLD = t.NEW