The B20, which represents global business in discussions among G20 countries, has released a new paper urging G20 leaders to do more to promote integrity by creating opportunities for responsible companies.
Published by the B20 Cross-Thematic Group on Responsible Business Conduct and Anti-Corruption, the paper (available for download here) makes three main recommendations: establishing beneficial ownership transparency, recognizing compliance efforts, and enhancing Responsible Business Conduct in infrastructure projects.
One of the Group’s central messages is that the regulatory framework in the G20 and beyond must be such that companies realize responsible business conduct is worthwhile. The paper also calls for government entities, business, and other stakeholders to cooperate more effectively in combating corruption, including through collective action initiatives.
The Cross-Thematic Group is chaired by Dr. Klaus Moosmayer, Chief Compliance Officer of Siemens and a member of IACA’s frequent visiting faculty. It includes more than 100 members from 26 countries.
Martin Kreutner, IACA’s Dean and Executive Secretary, said the Academy is ready to play a full part in promoting responsible business conduct worldwide through its education, training, and capacity-building activities, and via other forms of technical assistance.
“International cooperation is essential to fighting and preventing corruption effectively, and the global business community has a vital role to play in this regard. This new B20 paper sends a strong signal in terms of promoting integrity and incentivizing companies that lead the way on compliance,” Mr. Kreutner commented.
The paper’s recommendations will be handed over to the German Chancellor Angela Merkel during the B20 summit in Berlin on 3 May. Germany currently holds the Presidency of the G20.