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UN Convention Against Corruption. The Role of Business. Tim Martin Vice President Nexen Inc. UN Convention Against Corruption Business Implications. Potential for truly global anti-corruption movement Too early to assess long term impact Convention lacks effective monitoring process

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un convention against corruption

UN Convention AgainstCorruption

The Role of Business

Tim Martin

Vice President

Nexen Inc.

un convention against corruption business implications
UN Convention Against CorruptionBusiness Implications
  • Potential for truly global anti-corruption movement
  • Too early to assess long term impact
  • Convention lacks effective monitoring process
  • Domestic laws important to business vs Convention
  • Concern of little consistency amongst countries’ laws
  • For both defined offences & enforcement
  • Conflicts make business more complex & uncertain
  • Requires political commitment & financial resources
example of domestic law conflicts oecd convention against corruption
Example of Domestic Law ConflictsOECD Convention Against Corruption

Countries allowing Facilitating Payments

  • United States/Canada

Countries not allowing Facilitating Payments

  • England/France/Italy

Host Country Laws

  • Do not provide for Facilitating Payments
  • Rarely address expenses for officials

Conflict of Corruption Laws

  • Dilemma for companies in many jurisdictions
  • Are facilitating payments allowable or not?
  • Some companies have eliminated them, others not
un convention against corruption business response
UN Convention Against CorruptionBusiness Response
  • Be proactive rather than reactive
  • Strength in numbers vs acting alone
  • Engage in sectoral initiatives
  • Consider forming alliances with IGO’s and NGO’s
  • Develop best business practices
  • Do not expect single solution or rule
  • Accommodate different cultures & laws
  • Base strategy on your corporation’s values
initiatives on combating corruption
Initiatives on Combating Corruption
  • UN Global Compact
  • International Chamber of Commerce
  • World Business Council
  • Conference Board
  • TI Integrity Pact
  • TRACE for Agents
  • Extractive Industry Transparency Initiative
  • International Assoc. of O&G Producers (OGP)
  • Assoc. of Int. Petroleum Negotiators (AIPN)
combating corruption business challenges rewards
Combating CorruptionBusiness Challenges & Rewards
  • Fitting into crowded corporate agenda
  • Conflicting demands from many groups
  • Figuring out what is right & doing it
  • Tough challenge but doable
  • Value to shareholders & other stakeholders
  • Business can make a difference
business making a difference yemen scholarship initiative
Business Making A DifferenceYemen Scholarship Initiative

Scholarship Program

  • 60 Yemeni students awarded scholarships
  • Studying in Canada at post-secondary institutions
  • Rigorous & transparent selection process
  • Selection of recipients merit-based
  • 100% success rate at university programs
  • 10 Students graduated (6 returned to Yemen & 4 in post graduate)

Business Purpose

  • Nexen initiated program voluntarily
  • It received no tax or financial benefits in Yemen
  • Nexen insisted on transparent process
  • Helping build infrastructure good for business
  • People are most important investment in a country
  • It builds institutions and transparency
thank you

ThankYou

Tim Martin

Vice President

Nexen Inc.

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