Ukraine is already central to Europe’s security. Its defence manufacturers are increasingly eligible for participation in the rapidly growing EU defence procurements. However, unless Ukraine’s defence manufacturers are able to meet strict EU anti-corruption and ESG standards, they risk being shut out of EU supply chains. Europe needs Ukraine’s battlefield-tested innovation and production capacity, yet compliance gaps and unclear expectations are slowing integration.
Twenty-five years after the OECD Anti-Bribery Convention came into force, companies are facing an increasingly complex regulatory landscape, not only on anti-corruption but also sustainability.
In this blog, Vanessa Hans sheds light on recent corporate disclosure regulations and how companies can better meet stakeholders’ reporting expectations.
Drawing on broad stakeholder consultations, corruption case analysis and reviews of existing best practices, this guidance proposes concrete measures that companies should adopt to reduce corruption risks in their work with state-owned enterprises (SOEs) in the oil, gas and mining industries. It also recommends measures SOEs can take to strengthen their anticorruption safeguards.
The guidance for private-sector companies has five parts:
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Key developments in mandatory human rights due diligence and supply chain law: Considerations for employers
Human rights are a key concern for business. As the global voice of business, IOE is deeply engaged in the business and human rights agenda and strongly supports the UN Guiding Principles on Business and Human Rights (UNGPs). The UNGPs were endorsed by the UN Human Rights Council in its resolution 17/4 of 16 June 20111.
This guidance note contains a set of indicators that companies may wish to consider when reporting on the effectiveness of their anti-corruption efforts to external stakeholders. Such disclosures could also be useful to build trust with external stakeholders, mitigate reputational risk and identify best practices.
It is focused on the health sector, which is especially vulnerable to compliance risks because of the complexity of its value chain and the size of the financial flows in the sector.
This paper sets out why and how Collective Action needs to become a global "norm" in the fight against corruption and an integral part of mainstream anti-corruption efforts. The idea is to ensure that Collective Action is considered in companies' compliance programmes as a risk mitigation tool to analyse and address persistent problems of corruption. The pathway to achieving this is to embed Collective Action as recommendation in international, national and business-relevant standards.
The report:
Child labour. Forced evictions. Confiscation of migrant-worker identity documents. Crackdowns by security forces on peaceful assemblies. Serious illness resulting from corporate pollution.
These are all examples of human rights abuses that might arise in business operations or supply chains, knowingly or unknowingly, in a company’s home country or abroad.
The Basel Institute is collaborating with Nestor Advisors on a project to advise on and provide support for the improvement of the compliance management system of the Société Tunisienne de l’Electricité et du Gaz (STEG), Tunisia’s state-owned gas and electricity production and distribution company.
Companies conducting business beyond their domestic markets face growing legal and reputation risks.
The Good Practice Guidelines on Conducting Third Party Due Diligence are meant as a practitioner’s guide to managing these risks and are intended for all types of businesses.
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The High Cost of Small Bribes
The purpose of this guidebook is to educate business people and compliance officers on the high cost of small bribes and to provide guidance on how to eliminate these payments from business practices.