Anticorruption & Transparency
Corruption is a considerable obstacle to economic and social development around the world. It has negative impacts on sustainable development and particularly affects poor communities.
Corruption hampers business growth, escalates costs, and poses serious legal and reputational risks for companies. It also raises transaction costs, undermines fair competition, impedes long-term foreign and domestic investment, and distorts development priorities. Investors to understand that corruption can negatively impact value and pose financial, operational and reputational risks to their investments.
New and tougher anti-corruption regulations continue to emerge worldwide. All companies need robust anti-corruption measures and practices to protect their reputations and the interests of their stakeholders.
With our partners, we are working to help companies on a range of anti-corruption issues. These include risk assessment, reporting and supply chain practices. Additionally, we are mobilizing businesses to provide a united voice against corruption. Collective action is essential for bringing an end to a systemic issue that is too complex for any company to tackle alone.
The Tenth Principle of the UN Global Compact states that “Businesses should work against corruption in all its forms, including extortion and bribery.” We call on companies to develop policies and programmes to address all forms of corruption. We challenge companies to join peers, governments, UN agencies and civil society to realize a more transparent global economy.