This piece was originally published in TRACE Trends, a version of  which was originally published by Alexandra Wrage in The Compliance & Ethics Blog.

A version of this blog post initially appeared in the Summer 2015 edition of Ethical Boardroom Magazine.

This summer will mark two years since the ICCA Conference, Collective Action: Going Further Together to Counter Corruption. 

Much has been said and written about the business case for countering corruption. That is to say, about the long-term benefits of a clean business environment, not only for the economic development of countries but also for individual companies who profit from transparent and reliable business practices.

While this is undoubtedly true, it’s also true that withstanding corruption can be a challenge for companies.

The High Level Reporting Mechanism (HLRM) has received increased attention in recent months, making it worthwhile to take stock of developments surrounding the tool as well as supporting items for their implementation.

The private sector’s role in combating and preventing corruption continues to be essential and is widely recognized by government, civil society and companies themselves, with the spread of corporate anti-corruption compliance programs in recent years presenting a clear response to the acknowledged responsibility of the private sector. Whilst this is a positive development it is not enough to tackle corruption in particularly challenging markets and sectors.

A modified version of this article appears in the Leaders' Anti-Corruption Manifesto, a collaborative publication developed with written contributions from business and civil society, for the Anti-Corruption Summit in London, 12 May 2016. 

Global Compact Network India (GCNI) established the Centre of Excellence for Governance, Ethics and Transparency (CEGET) in March 2015, with the overall goal of developing a premier knowledge repository that ‘conducts innovative action research and training, provides a platform for dialogue and communication and facilitates systematic policy initiatives for strengthening transparency and ethics in business.’

CEGET has spearheaded two key initiatives - ‘Governance for Smart Cities’ and ‘Business inputs for Public Procurement Bill 2012.’

As the Basel Institute on Governance's second anti-corruption Collective Action conference draws near, let's take a moment to look back at one of the key messages that emerged from the 2014 edition, on the question of enforcement mechanisms and business participation Collective Action. 

The Basel Institute’s head of compliance, corporate governance and collective action talks to Ruth Green of the International Bar Association about anti-corruption programmes, the Panama Papers leaks, and what companies can do to better manage and mitigate risks. This article is posted with the permission of the International Bar Association and can be found in its entirety here.