A Matter of Accountability: Rise to the Top vs. Race to the Bottom. Room: A
When disaster strikes, the headlines grow big in the name and shame game. Thus, accountability has hit the public and corporate arena with a blast. It has also hit share value, and accountability is now a key concern of top management. The call for accountability has spurred increased corporate transparency, through measurement and reporting of companies’ sustainability impact. But when no formal international standards apply, corporate efforts vary as much as the number of governance initiatives, leaving stakeholders confused. To tell the best corporate practices from the merely good or downright bad, sustainability reporting should ideally be as precise as economic reporting. Could some kind of "common global corporate governance framework" improve accountability? If so, what mechanisms should be implemented? In spite of the increased acceptance of corporate responsibility in international business, the majority of countries and companies still lag behind. How do we move from a few good examples to a common practice, while ensuring the race goes to the top, and not to the bottom?
Moderator:
- Siri Bjerke
Director, Innovation Norway
Rapporteur:
- Gro Skaaren-Fystro
Transparency International Norway
Plenary Speakers:
- Kishor Chaukar
Managing Director, TATA Industries, India
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- Richard Howitt
Member of the European Parliament, UK
- Huguette Labelle
Chancellor of the University of Ottawa, Chair of the Board of Transparency International, Canada
- Idar Kreutzer
President and CEO, Storebrand, Norway
- Karen Tse
CEO, International Bridges to Justice, Switzerland/US
- Georg Kell
Executive Head, UN Global Compact Office, US