Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
The Global Compact Anti-Corruption principle is derived from the United Nations Convention against Corruption.
Corruption is recognized to be one of the world's greatest challenges. It is a major hindrance to sustainable development, with a disproportionate impact on poor communities and is corrosive on the very fabric of society. The impact on the private sector is also considerable - it impedes economic growth, distorts competition and represents serious legal and reputational risks.
Reporting Guidance on The 10th Principle Against Corruption
While the majority of companies acknowledge the importance of anti-corruption measures throughout business operations, implementing such measures still poses a challenge. The Reporting Guidance on The 10th Principle Against Corruption now provides practical guidance to companies on a broad set of reporting elements and is rooted in existing reporting practice. The tool was developed by a task force of the Global Compact Working Group on Anti-Corruption and companies participating in the Global Compact are encouraged to familiarize themselves with the guide.
Allens Arthur Robinson has created 'Our Ethos', an internal firm document on how to act ethically, and established an Ethics Committee to review and advise on ethically fraught situations. Both ‘Our Ethos’ and the Ethics Committee help by providing advice and guidance to employees when dealing with potentially unethical behaviour. Providing an institutional means of dealing with corruption can help promote more ethical behaviour and while also increasing transparency and accountability. More information can be found in their COP.
Transurban introduced a new Whistleblower Policy that does not only apply to its employees but also to its extended network of contractors, consultants and suppliers including their employees. Whilst providing institutional means that aim at preventing corruption from occurring, organisations also need to establish mechanisms whereby concerns about actual or suspected misconduct can be reported. Transurban’s whistleblower policy provides a good example of such mechanisms as it increases compliance with regulations and internal requirements by providing a safer work environment and reaching beyond company borders. More information can be found in Transurban's Sustainability Report 2009 and in their Annual Report 2009 (p. 19).
We are currently in the process of growing these pages in order to highlight all of the actions being taken by Australian signatories. If you would like to share what your business is doing to implement the principles of the UN Global Compact contact us at the Centre.