Realizing that corruption has been one of the biggest impediments to economic development, the Makati Business Club (MBC) and the European Chamber of Commerce of the Philippines (ECCP) launched the Integrity Initiative in December 2010, with the support of American Chamber of Commerce of the Philippines (Amcham), Asian Institute of Management (AIM), Management Association of the Philippines (MAP), and other associations. Through an Integrity Pledge that heads of organizations sign, private companies and government agencies commit themselves to:

• Prohibit bribery in any form in all activities under their control and ensure that charitable and political contributions, business gift, and sponsorships are transparent and will not be for the purpose of attempting to influence the recipient whether the government or private, into an improper exercise of functions, duties, or judgment;
• Maintain a Code of Conduct to guide employees towards ethical and accountable behavior at all times, and apply appropriate sanctions or violations of the Code;
• Conduct training programs for employees to promote integrity, honesty, and accountability in the exercise of their duties and responsibilities, and to convey with resolve the company’s commitment to ethical business practices;
• Implement appropriate internal systems and controls to prevent unethical conduct by employees, ensure good governance, and institutionalize the values of integrity and accountability in their businesses;
• Maintain appropriate financial reporting mechanisms that are accurate and transparent;
• Maintain channels by which employees and other stakeholders can raise ethical concerns and report suspicious circumstances in confidence without risk of reprisal, and a designated officer will be tasked with investigating all reports received;
• Enter into Integrity Pacts with other businesses and with government agencies when dealing with procedures related to the bidding and procurement of supplies, materials, equipment, and construction;
• Refrain from engaging in business with parties who have demonstrated unethical practices.

As of May 31, 2012, over 1,000 entities have signed the Integrity Pledge. This list will be presented to President Benigno Aquino. Integrity initiative reiterates its support to the administration’s Good Governance and Anti-Corruption Program and its vision for a country with integrity in the near future. In this ideal situation, there will be a level playing field for all businesses and being ethical becomes a competitive advantage. 

Source: Business World; The World; 1June 2012