Corruption threatens to jeopardize global economic recovery - Leading experts share proposals in new report on International Anti-Corruption Day

(Press release form the World Economic Forum, 8.12.2009)

To mark tomorrow’s International Anti-Corruption Day, leading experts brought together by the World Economic Forum developed proposals to help tackle corruption. Their report Raising Our Game: Next Steps for Business, Government and Civil Society to Fight Corruption recommends the following:

• For Businesses – empower ethics officers to prevent bribery through anti-corruption programmes, such as the Partnering Against Corruption Initiative (PACI)
• For Governments – create a level playing field by ratifying and fully implementing the United Nations Convention Against Corruption into national law
• For Civil Society – strengthen its “watchdog” role to promote ethical practices with business and government

Corruption is a major obstacle to economic and social development around the world. The estimated cost of corruption worldwide is more than 5% of global GDP (US$ 2.6 trillion) with over US$ 1 trillion lost in bribes each year.¹

According to Mark Pieth, Co-Chair of the Global Agenda Council on Corruption, and Chair of the OECD’s Working Group on Bribery: “Corruption obstructs the effective distribution and intended use of funding to address any pressing global issue today – whether it be climate change or HIV/AIDS. Unless we gain significant ground in the fight against corruption, progress in addressing any other global issue will continue to be seriously hampered.”

The report notes that it is critical for government, business and civil society to work hand in hand at the local level, as well as regionally and globally, to mount a successful battle against corruption. Global Agenda Council on Corruption members advocate partnerships between the three sectors to enhance and support each other’s efforts, share expertise and best practice, and foster innovation.

“Our goal with this publication and other activities of the Global Agenda Council on Corruption is to act as a catalyst for change, to address one of the most pressing issues of our times,” said Council Co-Chair Cobus de Swardt, who is also Managing Director, Transparency International, Germany.

¹”Clean Business Is Good Business – The Business Case against Corruption”, available at: http://www.weforum.org/pdf/paci/BusinessCaseAgainstCorruption.pdf

Watch this video appeal on why every day is Anti-Corruption Day