South Africa: Most companies now have code of ethics

Date: 1 Dec 2002

A survey of business ethics in South Africa's top listed companies has found that, although many are falling short on some aspects of ethics management, a picture has emerged that is healthier than some had predicted.

Seventy six percent of senior managers polled said they had a code of ethics, while 33.3 percent of employees said they did not know whether their company had a code of ethics.

However, companies were not strong on communication. Nor on maintaining a theft-free corporate environment. Some chief executives raised concerns over 'triple bottom line' accounting, suggesting that the arguments have yet to hold much sway with their shareholders.

"A lot of senior executives say: 'We've got a problem here. We have a moral responsibility to provide antiretrovirals because the government doesn't do it for whatever reason, but our shareholders are foreign.' The shareholders say: 'Why are you doing this? Because you pay taxes you have a reasonable right to expect the government to do it.'"

One of the key drivers for business interest has been the growing discrimination in the use of fines between companies that have a formal ethics programme and those that don't. Pressure from NGOs and consumers is also playing a part.

Article source: Business Report

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