In the latest blog post produced by The B Team for The Guardian, B Team Leader Mo Ibrahim and B Team Advisor, John Elkington explore the current state of global corruption.
In Asia, Transparency International reports that corruption still plagues most countries in the region, with the average country score in the organisation’s 2014 Corruption Perceptions Index being 38 out of 100. In Brazil, Maria Das Gracas Foster, CEO of the state controlled oil giant Petrobras has been embroiled in the largest bribery investigation in the country’s history. Meanwhile in the United States, there is a sense that the political process has been bought by the 1%, with both Tom Steyer and the Koch brothers pouring hundreds of millions of dollars to get their ideas into the public sphere.
However, there have been some positive developments on this front. The UK continues to fight corruption with the UK Bribery Act of 2010 and Ibrahim and Elkington highlight, Celtel (of which Mo Ibrahim is a founder) which used a very simple strategy of requiring every check of over $30,000 USD to be approved, essentially derailing any possibility of large payments from the company to be used for government or other external influence.
The post closes, arguing the definite business case for continuing the fight against corruption arguing that “any successful Plan B for tomorrow’s economy must ensure that we regulate against – and effectively police – corrupt practices, wherever they occur and with whomever may be involved.”
To read the full blog post click here.
To learn more about our work on Driving Full Transparency in business, and Tackling Corruption click here.