The B Team Works to Cut the Cost of Corruption in Global Business
Corruption in business around the world is a very big item on business expense sheets, according to recent data. Estimates are that the total is more than five percent of global GDP—$2.6 trillion—and that the cost of doing business globally is increased by up to 10 percent, according to the World Economic Forum and the World Bank. To fight corruption, The B Team and its partners have launched an online tool to reveal the true owners of companies. The underlying principle is that transparent ownership “reduces the risks of doing business, helps companies succeed in new markets, and contributes to public trust and thriving societies.” The tool outlines six actions that business leaders can implement inside their own companies to embrace transparency.
John Howell, Editorial Director
ReportAlert: Macsween publishes 2014/2015 Sustainability Report