Davos Open Forum 2011 - Can We Fight Corruption?

TL;DR

Corruption is a global issue that requires collective action to combat.

Transcript

Ladies and gentlemen, I'd like to wish you a warm welcome. You might be surprised Mr. Clapcord isn't speaking to you. He's not here today. I'm sorry about that. My name is Mark Pieth. Mr. Clapcord has unfortunately fallen ill this morning and I've been asked to take over the moderator's position. I am aware of the -- you're expecting the start of M... Read More

Key Insights

• ❓ Corruption remains a major issue globally, with limited progress made in the last two decades.
• 🖐️ Media and NGOs play a crucial role in exposing corruption, promoting transparency, and advocating for better governance and ethics.
• 💦 Private companies can take measures to reduce corruption internally and work together with other companies, governments, and organizations to combat corruption collectively.
• 💦 Transparency International and other organizations are working to implement and enforce laws and regulations, as well as promote transparency and integrity in both public and private sectors.

Questions & Answers

Q: How has media played a role in combating corruption, especially in countries like China?

Media, like Caixin Media in China, has taken on the responsibility of investigating corruption cases and exposing them to the public. Journalists face risks and challenges, but China's evolving media landscape and the growth of independent media have allowed for more exposure of corruption cases.

Q: How can private companies be involved in the fight against corruption?

Private companies, like TNT, can take measures to reduce corruption internally, such as setting targets to reduce corruption and measuring and managing corruption. They can also work collectively with other companies and governments to address corruption issues, like the establishment of partnerships against corruption.

Q: What impact does corruption have on the developing world?

Corruption has a significant impact on developing countries, as it hinders development and exacerbates inequality. Money that could be used for public services and development is often siphoned away, preventing progress in education, healthcare, and infrastructure.

Q: How can individuals report corruption within their companies and be protected?

Companies should have processes in place to allow employees to report corruption and protect whistleblowers. This can include anonymous hotlines or email systems where employees can report wrongdoing without fear of retaliation. Companies should also have independent bodies to investigate reports and take action against corruption.

Summary & Key Takeaways

• Corruption is a long-standing issue that has not seen much improvement in the last 20 years, with corruption still prevalent in many countries.

• Media plays a crucial role in exposing corruption and promoting transparency, especially in countries with developing economies like China.

• Transparency International, as an NGO, has made significant strides in fighting corruption by focusing on implementing and enforcing laws and regulations, as well as promoting ethics and transparency in public and private sectors.

• Private companies, like TNT, have taken steps to combat corruption by measuring and managing corruption internally, setting targets to reduce corruption, and working together with other companies and governments to address the issue.