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‘Integrity Pledge’ a Commitment to Ethical Business Practices, Good Governance

Posted by Online on Jan 11th, 2012 // Comments off

MANILA, Philippines — More private companies are signing the Integrity Pledge with the government. The Integrity Pledge is a commitment to ethical business practices and good corporate governance as part of efforts to improve the business climate in the country. As of November, 2011, 858 companies had signed the pledge.

The initiative was launched during the 1st Philippine Integrity Summit on September 14, 2011, where President Benigno S. Aquino III witnessed the unveiling of a Unified Code of Conduct for signatories. President Aquino said: “Let me remind you that our collective desire to instill integrity into our respective communities does not end with a pledge of integrity. We are now obliged to live up to this pledge. I urge you to stand alongside us and do your part. This will not be easy, but if we work on it if we choose not to shirk our responsibilities as individuals, then everybody will get the message and act fast and accordingly.”

The pledge was developed in line with the national campaign as part of a project to promote integrity and accountability in business under the Hills Program on Governance of the Asian Institute of Management, in collaboration with Makati Business Club, the Management Association of the Philippines, the European Chamber of Commerce of the Philippines, and the American Chamber of Commerce of the Philippines.

As embodied in the Integrity Pledge, companies will: Maintain a code of conduct, hold training programs, implement internal systems and controls, maintain financial reporting mechanisms, devise channels by which employees and stakeholders can raise ethical concerns, enter into integrity pacts with businesses and government agencies, and refrain from engaging in business with parties that demonstrate unethical practices.

The roster of signatories to the Integrity Pledge is expected to go up, as more government and private firms recognize the need to foster honest, clean, transparent, and level playing field in any transactions, including projects under the public-private partnership. MABUHAY!

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