Anti-corruption principle added to the UN Global Compact
Date: 30 Jun 2004
The UN Global Compact, which frames 9 corporate commitments arising from basic globally held principles of the UN charter, has now added a 10th principle around the issue of corruption.
The principle, announced by UN Secretary General Kofi Annan at the UN Global Compact Leaders Summit in New York, commits the signatory companies to work against corruption and has been adopted following widespread consultation with the Compact's members and supporters.
Transparency International welcomed the move. TI chairman Peter Eigen said: "The overwhelmingly positive response of participants to the addition of an anti-bribery principle shows that companies are waking up to the need to fight corruption".
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