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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 AgainstCorruption

The Role of Business

Tim Martin

Vice President

Nexen Inc.


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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


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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


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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


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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)


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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


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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


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Business Making A DifferenceYemen Scholarship Initiative


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ThankYou

Tim Martin

Vice President

Nexen Inc.


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