Transparency in governments, financial institutes and business is key to growing a stable global economy. Without this, corruption has the opportunity to distort markets, undermine development and make business unsustainable. According to the World Bank, corruption increases the cost of doing business up to 10% globally. In the 2012, the Global Compact Annual Implementation Survey – the largest survey on corporate sustainability practices with input from over 1,700 businesses – 39% of respondents ranked corruption as a major obstacle to sustainable development. Sustainability and market growth cannot be attained in the absence of transparency and where corruption is prevalent.
While game-changing ideas and large-scale initiatives are difficult to implement, a “coalition of the willing” is rapidly developing, with business, civil society and government leaders around the world exhibiting greater interest in supporting anti-corruption initiatives. This momentum reflects a tipping point where stakeholders can collaborate to design corruption out of the system.
In the 2014-2016 term, Global Agenda Council on Transparency & Anti-Corruption will support large-scale transformation in the transparency and anti-corruption arena through its work by identifying and advancing the core levers of change such as B20 collective action hubs, harmonizing legal framework, and designing efforts to increase public awareness on corruption needed to design corruption out of the system at the global, regional and industry levels. The council will continue its effort to increase awareness and greater public education on this topic through social media, educational programmes and other mechanisms.
Forum Lead: Pedro Rodrigues De Almeida, Head of Basic Industries, Basic and Infrastructure Industries, email@example.com