- Principle 10: Businesses should work against all forms of corruption, including extortion and bribery.
On 24 June 2004, during the UN Global Compact Leaders Summit, the UN Global Compact adopted a tenth principle against corruption. This was implemented after extensive consultations and all participants yielded overwhelming expressions of support, sending a strong worldwide signal that the private sector shares responsibility for the challenges of eliminating corruption. It also demonstrated a new willingness in the business community to play its part in the fight against corruption.
It is now clear that corruption has played a major part in undermining the world's social, economic and environmental development. Resources have been diverted to improper use and the quality of services and materials used for development seriously compromised.
The long-term sustainability of business depends on free and fair competition. Corrupt practices also accompany and facilitate drug dealing and organised crime. Money laundering and illicit international money transfers are used as support mechanisms for international terrorism. Global businesses have to be constantly vigilant to avoid being associated with these major international challenges.
A task force of the Global Compact Working Group on Anti-Corruption developed a guidance document on anti-corruption reporting. The tool provides practical guidance on a broad set of reporting elements and is rooted in existing reporting practice. It provides examples of indicators of initiatives such as PACI, FTSE4Good, Transparency International, the Global Reporting Initiative and the International Corporate Governance Network. Recognizing that companies, large and small, implement the tenth principle at different speeds, the matrix provides guidance for reporters on a basic and a desired level.
For information on anti-corruption reporting, please click here
For further information and guidance on anti-corruption issues, please visit the following:
- UK Department for Business Innovation & Skills for more information on anti-corruption initiatives
- Read an anti-bribery leaflet produced by the UK Foreign & Commonwealth Office
- Read Business against Corruption - A framework for action, a joint publication by The Global Compact, Transparency International and the International Business Leaders Forum
- Guidance Materials from the UN Global Compact
Promoting Collective Action through UN Global Compact Local Networks
In December 2010, the Global Compact launched Global Compact Anti-Corruption Project in Five Countries. Through this project Global Compact Local Networks in Brazil, Egypt, India, Nigeria, and South Africa implement in partnership with the Global Compact Office high-impact collective-action platforms on anti-corruption. By facilitating ongoing dialogue between the private and public sector, this project offers an opportunity for a wide range of stakeholders to explore how collective action can create incentives for ethical business performance, and to discuss areas for further improvement.
Find more information here.
CEO Letter on UN Convention Against Corruption
The Global Compact encouraged participants to sign on to a CEO statement in support of the UN Convention against Corruption (Convention).