2. Risk rating agencies as well as corporate responsibility indices should include transparency measures as an integral part of their evaluation process. Transparency International encourages risk rating agencies, risk and corporate responsibility analysts and all institutions that publish indices of corporate responsibility to include transparency and anti-corruption compliance in their evaluation models. Anti-corruption programmes and transparency enhancing measures lower the risk and incidence of corruption. Therefore, ratings that fail to account for good standards in reporting on anti-corruption programmes, transparency in organisational structures and country-by-country operations are at best incomplete and at worst unreliable.
TO CIVIL SOCIETY ORGANISATIONS 1. Civil society organisations should get involved in the monitoring of multinational businesses located or operating in their countries to promote greater transparency. Transparency International strongly encourages civil society organisations in all countries, including emerging markets, to monitor transparency and integrity in multinational business. As their role and influence in the world economy increases, emerging market companies should adhere to higher standards of transparency. Civil society should encourage emerging market companies to apply ethical standards that are consistent with global best practice and to adhere to those high standards in all their operations. They should also be encouraged to report on these practices both in their home jurisdiction, as well as others, with equal detail and attention to the three dimensions identified in this report: anti-corruption programmes, organisational transparency and country-by-country reporting.
2. Civil society organisations should focus advocacy efforts on businesses located or operating in their countries to improve the depth and scope of their commitments to transparency, and in particular to improve their level of anti-corruption reporting. Transparency International encourages civil society organisations to focus advocacy efforts on achieving greater transparency in multinational business. Such advocacy should target governments, regulators and companies with the objective of countering illicit money flows and corruption generally. They should address all three dimensions of corporate transparency: reporting on anti-corruption programmes, organisational transparency and country-by-country reporting.
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Transparency International