Corruption is a major obstacle to economic and social development around the world. The estimated cost of corruption worldwide is more than 5% of global GDP (US$ 2.6 trillion) with over US$ 1 trillion lost in bribes each year.
According to Mark Pieth, Co-Chair of the Global Agenda Council on Corruption, and Chair of the OECD’s Working Group on Bribery: “Corruption obstructs the effective distribution and intended use of funding to address any pressing global issue today – whether it be climate change or HIV/AIDS. Unless we gain significant ground in the fight against corruption, progress in addressing any other global issue will continue to be seriously hampered.”
The report notes that it is critical for government, business and civil society to work hand in hand at the local level, as well as regionally and globally, to mount a successful battle against corruption. Global Agenda Council on Corruption members advocate partnerships between the three sectors to enhance and support each other’s efforts, share expertise and best practice, and foster innovation.
See full Report, in pdf format.
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