In 2015, every country in the world committed to transform our world through the adoption of the SDGs. It is no coincidence that with only six years until the 2030 deadline, corruption is thriving worldwide, but only 17 per cent of the SDG Targets are on track. To build a sustainable, global, ethical economy, illicit financial flows must be addressed.

By working towards eliminating illicit financial flows, companies can significantly enhance their reputation and build trust with stakeholders, including customers, investors, and regulators. Businesses that take a proactive stance help foster a stable and predictable business environment, attracting sustainable investment and facilitating long-term growth.

On the occasion of the 20th Anniversary of the United Nations Convention against Corruption (UNCAC), more than 500 businesses appealed to governments to “foster a Collective Action approach to strengthen governance and anti-corruption by means of public-private partnerships, dialogue and the engagement of all relevant actors to generate inclusive and innovative solutions for the broader benefit of people and the planet”.

2030 Vision: Uniting Europe in the Fight Against Illicit Financial Flows will bring together UN Global Compact Private Sector Participants with actors across civil society, government and academia to embed business integrity principles across company operations, advocate and advance policy recommendations, and foster international standards that set the ground for better economic, political and social conditions both nationally and regionally across Europe.

In joining the initiative, private sector participants must publicly pledge to demonstrate ethical leadership in the fight against illicit financial flows. The robust anti-corruption measures to which these companies must commit will significantly reduce their exposure to risk of legal penalties, financial losses, and reputational damage associated with illicit activities.

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