A three-year engagement by PRI signatories has resulted in improved transparency and disclosure of anti-corruption strategies, policies and management systems by several global companies with significant exposure to corruption risk.
Three quarters of companies targeted in an investor engagement aimed at improving disclosure and understanding of companies’ anti-corruption risk management have significantly improved their transparency in this area.
The investor group, led by F&C Asset Management and Hermes Equity Ownership Services, collectively manages more than $1.7 trillion in assets, and began engaging with 21 companies across 14 countries in March 2010 to encourage them to demonstrate that they had appropriate anti‐corruption controls.
A methodology developed by Transparency International, called Transparency in Reporting on Anti-Corruption (TRAC), was used to assess companies against fifty indicators relating to their anti-corruption strategy, policy and management systems.
By early 2013, sixteen companies have improved their performance against the indicators, with ten companies improving their score by four-fold, and the leading company improving its score by six-fold.
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