With the Millennium Development Goals (MDGs) set to expire in 2015, the United Nations is undertaking the process of determining its future development framework. The private sector has an enormous stake in achieving sustainable development, as healthy societies and healthy markets go hand-in-hand. In this respect, it is crucial that governments integrate good governance and anti-corruption into the post-2015 agenda to achieve development that is enduring and sustainable.
Healthy markets are grounded on sustainable and ethical principles. Where corruption and other forms of poor governance are pervasive, economies cannot function properly, efficiently or fairly. In societies with high levels of corruption, unethical business practices often go unpunished. Impunity reigns; there is no level playing field.
Corruption distorts markets, undermines development and makes business unsustainable. According to the World Bank, corruption adds up to 10% to the cost of doing business globally. And, in response to the 2012 Global Compact Annual Implementation Survey – the largest survey on corporate sustainability practices with input from over 1,700 businesses – 39% of respondents ranked corruption as a major obstacle to sustainable development. Sustainability and market growth cannot be attained as long as corruption is prevalent. With corruption, everyone loses in the long term.
See full Article: http://forumblog.org/2013/04/battling-corruption-with-collective-action/
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