MANILA, Sept 3 (PNA) – Two out of five companies with highest rating in ethical business practices were Filipino-owned companies, according to the Integrity Initiative Chairman and Makati Business Club (MBC) President Ramon del Rosario.

The state-owned Development Bank of the Philippines (DBP) and GMA Network, Inc. were included in five companies rated as advanced level of implementing integrity practices.

Other companies included were the American company Convergys Corporation, the Anglo-Dutch Royal Dutch Shell, and the German multi-national company Siemens.

Process of identifying compliance on integrity practices includes signing of head of a company into Integrity Pledge which directs the company to abide the Unified Code of Conduct for Business (UCCB).

After signing into Integrity Pledge, the company may submit itself to self assessment for integrity practices.

However, the self assessment is a non-compulsory activity for Integrity Pledge signatories.

Further, following the self assessment is the validation which is done by third party coming from trusted audit firms which supplies confirmation of data submitted by the company through the self assessment.

Thus, companies will be identified on their levels of implementation of integrity practices.

Lowest level is Reaction, in which integrity practices are non-existent; Initiation Level shows starting to implement integrity practices or implementing but lacks systematic process; Expansion Level, which is the third level, portrays systematic integrity practices are implemented organization-wide; Refinement, the level in which integrity practices are continuously evaluated and improved; and the highest level, the Advanced Level in which integrity practices are mainstreamed in the organization and demonstrated best-practices.

Del Rosario said among 150 signatories, 40 percent submitted their companies to assessment on integrity practices and only five companies achieved the Advanced Level.

The highest ranked companies have given clear signals down the line on their initiatives against corruption and unethical practices, Integrity Initiative officials said.

Meanwhile, the Integrity Initiative is a private sector-led campaign that aims to boost ethical standards in the society.

The project is initiated by MBC in cooperation with European Chamber of Commerce of the Philippines.

”The Integrity Initiative rallies the private sector to fight corruption by first keeping its own house in order and strengthening internal control measures,” del Rosario said. “We, the private sector, are doing to somehow contribute to efforts to deter corruption. Beginning among ourselves; beginning within ourselves.” (PNA)

DSP/KMC

Source: Positive News Media(positivenewsmedia.net); News; 03 September 2013