Partnership for integrity – Romanian Clean Business Coalition – Raiffeisen Bank

Partnership for integrity – Romanian Clean Business Coalition – Raiffeisen Bank

Period of implementation: March 2014 – March 2015

Corruption is one of the greatest barriers to economic growth, the development of the business sector and a threat to democracy and rule of law.

The Romanian Center for European Policies, together with Romanian Business Leaders, initiated “Partnership for integrity – Romanian Clean Business Coalition – Raiffeisen Bank”, a project which aims to promote the adoption of internationally recognized certification standards covering corruption issues like Global Reporting Initiative – GRI sau United Nations Global Compact – UNGC. The project facilitates the exchange of good practices and the transfer of expertise.

EU Commission launched a reform to improve corporate transparency: Proposal for a Directive amending Council Directives 78/660/EEC and 83/349/EEC as regards disclosure of non-financial and diversity information by certain large companies and groups.

In accordance with the European Commission amendments, adopted by the European Parliament in April 2014, the targeted companies will have to provide information about the policies, results and risks arising from environment problems, human rights, anti-corruption programs and bribes and the diversity from the management boards. Until the adoption of the current Directive, non financial disclosure was optional, but after its entry into force, most likely, this autumn, the companies will have to comply with the new legislation.

Clean Business Coalition will analyze best practices with regards to the implementation of corporate codes/standard of integrity in the Romanian companies, conduct a survey among business leaders about current procedures and promote ways to improve and expand the implementation of such reports.

Donor: Raiffeisen Bank