Bribery and corruption remain an area of growing concern in the global investment community, particularly given recent high profile cases of corruption among companies in both developed and emerging markets. Where corruption is present, efficient markets, fair competition and economic development are undermined to the detriment of investors and other stakeholders, including governments and civil society more broadly. For investors, addressing bribery and corruption related risks may improve investment returns, reduce market volatility, and reduce uncertainty in company performance. While a robust framework for managing anti-corruption risk within companies and their supply chains may positively impact long-term performance, the absence of such a framework may lead to serious financial, operational and reputational risks.
The new phase of this project follows a successful engagement over 2010-2013 by 21 PRI signatories whose collective assets under management totalled over US$1.7 trillion. This phase resulted in improved transparency and disclosure of anti-corruption strategies, policies and management systems in 16 out of the total 21 global companies whose exposure to corruption-related risks was considered significant.