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Economic Meltdown: CEOs call for greater adherence to UN anti-
corruption Convention
Posted: May 13, 2009 | African Examiner

In an unprecedented move, chief executives from some of the world’s leading companies
have called on governments to more effectively and robustly implement the United Nations
Convention against Corruption.

In a letter to UN Secretary-General Ban Ki-moon, the CEOs threw their support behind the
world’s only universal anti-corruption instrument, stating that it “holds the promise of
curbing corruption and creates a level playing field for all participants in the global
economy”. They praised the Convention, describing it as “an essential instrument in the
fight against corruption”, but they underlined the need for the establishment of an
implementation review mechanism at the next Conference of States Parties to be held in
Doha in November 2009.

“Especially now, in a period of deep financial and economic turmoil, an effective
implementation review mechanism is essential. The economic crisis will inevitably place
severe strains on worldwide competition, threatening an erosion of ethical standards that
will be hard to reverse”, they warned. They cautioned that any further delay in establishing
an effective review mechanism (as called for in the Convention) “would damage the
credibility of the Convention and its ability to build momentum in overcoming corruption”.

“Transparency and accountability are cornerstones to economic success. These CEOs
have shown great leadership in supporting a review mechanism that truly works and we
look forward to making the promise of this convention an anti-corruption reality”, said
Huguette Labelle, Chair, Transparency International.

The CEOs provided ideas on how the mechanism should work. They highlighted three
factors: adequate and dependable long-term funding; country visits with peer reviewers
from other countries; and a transparent process, with inputs from the private sector and
other stakeholders, and with published reports.

"I deeply appreciate the leadership demonstrated by the corporate community in this
critical matter," said UN Secretary-General Ban Ki-moon, in response to the letter by the
CEOs. "The business advocacy for an effective review mechanism and the growing number
of States adopting and implementing the Convention are evidence of a shared commitment
to tackle corruption."

The letter was written at the invitation of the four global, multi-industry anti-corruption
initiatives addressing the corporate sector: the International Chamber of Commerce,
Transparency International, the United Nations Global Compact, and the World Economic
Forum Partnering Against Corruption Initiative (PACI).

The United Nations Convention against Corruption, adopted in December 2003, has been
signed by 140 countries and ratified by 136 to date.

Copyright: Transparency International