Bringing International Corporations To The Anti-Corruption Table

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Bringing International Corporations To The Anti-Corruption Table

Charles H. Rivkin
U.S. Assistant Secretary of State for Economic and Business Affairs
12/09/2016 10:12 am ET

Since his first day in office, Secretary of State John F. Kerry has maintained that economic policy is foreign policy and vice versa. This principle recognizes that the bellwether for a country’s success depends squarely on the soundness of its economic policies and whether it allows businesses - within and without its borders - to operate in environments of transparency, consistency, and predictability.

Combating corruption is critical to establishing and maintaining such environments. Corruption poses a major threat to global prosperity and it undermines the rule of law, government institutions, and human dignity. The World Bank has estimated that $1 trillion of transactions worldwide are tainted by bribery each year.

The United States has been robustly engaged on a wide variety of fronts to address corruption, from legislative efforts at home, to foreign assistance and bilateral and multilateral diplomacy. But while governments can take a leading role in addressing corruption, other stakeholders also need to step forward, including civil society organizations, businesses, the media, and ordinary citizens, so we can collectively take action to fight the root causes of graft.

That is why, as we mark International Anti-Corruption Day, I want to bring attention to a critical weapon that is gaining recognition in the fight against corruption. This is the principle of corporate liability, which can play a key part in ensuring international business is conducted in an aboveboard manner, free of corruption and bribery...

Read more:
http://www.huffingtonpost.com/charles-h-rivkin/bringing-international-co_b_13531286.html