Anti-Corruption

Corruption has a negative impact on communities and overall global economic development by channeling funds away from overt towards covert economies. Corruption also erodes the trust necessary to build healthy societies.

What is corruption?

Corruption is the abuse of entrusted power for private gain. Corruption can be classified as grand, petty and political, depending on the amounts of money lost and the sector where it occurs. [1]

Why this matters?

Corruption has a negative impact on communities and overall global economic development by channeling funds away from overt towards covert economies. Corruption also erodes the trust necessary to build healthy societies.

Almost all countries have laws and regulations that prohibit corruption, for example:

  • the US Foreign Corrupt Practices Act (FCPA) [2]
  • the UK Bribery Act (UKBA) [3]

Steps towards an anti-corruption programme

Companies should adopt an anti-corruption programme as an expression of their core values of integrity and responsibility as well as to counteract corruption effectively.

An effective programme requires the ability to see the big picture, leadership and support on the part of the Board of Directors (or equivalent) and senior management.

The commitment should be expressed formally through a written statement published internally and externally. [4]

An example of a policy / statement and additional guidelines on further steps that should be taken are presented below.

Example of an anti-corruption policy

“It is the policy of [Company Name] to comply with all applicable laws and regulations prohibiting corruption in our worldwide operations. We expect the same of our business partners.”

“[Company Name] representatives at any level who fail to comply with this Policy, or to support guidelines and procedures or relevant legislation will be subject to internal disciplinary action, and possibly the termination of their contract.

“Those who believe a violation of this Policy has occurred or is about to occur are expected to speak up, either internally to their manager or legal department, or anonymously through the [Company Name] Whistleblower System.”

A.P. Moller - Maersk Programme

Click here to read the A.P. Moller - Maersk Anti-Corruption Stance and activities against corruption.

Additional guidelines

  • Transparency International's Business Integrity Toolkit provides a user-friendly six step process for building an effective anti-corruption programme. [4]

Download

Download the Supplier Sustainability Guidance-pdf here