PIMCO Headquarters, 650 Newport Center Dr, Newport Beach, California, United States of America
Symposium – ESG 2.0 and the Sustainable Development Goals
Multinational enterprises, development and decent work: the approach of the MNE Declaration
International labour standards and corporate social responsibility
One company’s actions, while critical, are not enough to end corruption. Companies must join forces with governments, community-based organizations, NGOs and other businesses to act collectively against corruption.
Collective Action allows companies to:
- Create deeper understanding of corruption issues
- Consolidate knowledge and financial and technical resources to achieve greater impact
- Create solutions that are perceived as more credible, acceptable and are more sustainable
- Help ensure fair competition and a level playing field for all stakeholders
- Create a more stable and enabling business environment
- Compliment existing anti-corruption efforts in vulnerable regions and sectors, where industry or government-led regulations are not robust
Forms of Collective Action:
- Integrity Pacts: An Integrity Pact is a short-term, project-or transaction-specific formal agreement between a customer (usually a public entity) and a bidder (usually a company), in which the parties agree to adhere to a fair and transparent public procurement bidding process (Developed by Transparency International)
- Anti-Corruption Declarations: Anti-Corruption Declarations are short-term, project- or transaction-specific statements of intent to ensure compliance with anti-corruption commitments. Companies, governments and/or sub-contractors can all be signatories of an Anti-Corruption Declaration
- Certifying Business Coalitions: Certifying Business Coalitions can be applicable to a country, region or sector. To join, a company must show a clear commitment to anti-corruption principles and adhere to ethical business standards. Regular independent audits and monitoring processes ensure compliance
- Principle-Based Initiatives: Principle-Based Initiatives promote the integration of transparent business practices in a country's corporate culture in a sustainable and long-term manner
- Education and training: Education and training can be conducted as part of Collective Action, and are critical to raising awareness and building capacity to fight corruption
Current Collective Action Projects
We collaborate with various organizations including our Global Compact Local Networks to promote Collective Action efforts. Our efforts aim to increase business integrity, enhance transparency and bring the private sector, governments, and civil society together to collectively advance the anti-corruption agenda and contribute to the achievement of the UN Sustainable Development Goals –specifically Sustainable Development Goal 16 and target 16.5 on fighting corruption.
Through the second round of funding from the Siemens Integrity Initiative we have carried out activities specifically focused on advancing collective action efforts in Egypt, Kenya, Nigeria and Japan, and will also start working in Brazil (click here to see projects carried out in the first round). The following two main projects are under way:
In Egypt, we are working in collaboration with the Egyptian Junior Business Association to establish a business-led Integrity Network in the country, which will serve as a platform for all stakeholders –including SMEs, large corporation, civil society, governments and others. The Integrity Network will discuss the risks of corruption, exchange good practices and promote clean business and fair market conditions. The project specifically engages small and medium-sized companies (SMEs) by:
- Committing them to advance their anti-corruption practices by publicly signing an Integrity Pledge. Signatories receive training on anti-corruption policies and programme, and their performance is regularly assessed; and
- Encouraging MNEs and other stakeholders to provide tangible business incentives to SMEs that implement the Integrity Pledge. For this, a thorough and credible assessment process is being introduced. Interested businesses, anti-corruption experts and other stakeholders are encouraged to join the Integrity Network. For more information, contact Neha Das.
In collaboration with the Basel Institute on Governance, we are working with our Local Networks in Brazil, Japan, Kenya and Nigeria to strengthen their capacity to take up Collective Action initiatives. An assessment of the anti-corruption landscape in each country will be performed to identify some of the main corruption challenges and relevant actors. From this we will identify opportunities for starting tangible collective action initiatives that contribute to solving the challenges that emerged through the assessment. As part of the project, a number of multi-stakeholder dialogues will provide a platform for identifying and aligning mutual interests and stakeholders around particular challenges. We invite companies, governments, civil society to join these local efforts. For more information, contact Moramay Navarro Perez.
- Projects that were carried out during the first round of the Siemens Integrity Initiative.
- Additional information on Collective Action and other similar initiatives can be found at the B20 Collective Action Hub.
New York, United States of America
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New York, United States of America
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