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Ethics , Governance and Transparency Post-Crisis 2012 Global Summit of Women, Athens 1 June 2012

Ethics , Governance and Transparency Post-Crisis 2012 Global Summit of Women, Athens 1 June 2012. Dr Vuyo Mahlati, South Africa. Introduction. Purpose : Linking Women as Engines of Economic Growth with Ethics and Good Governance

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Ethics , Governance and Transparency Post-Crisis 2012 Global Summit of Women, Athens 1 June 2012

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  1. Ethics, Governance and Transparency Post-Crisis 2012 Global Summit of Women, Athens1 June 2012 Dr Vuyo Mahlati, South Africa

  2. Introduction • Purpose: Linking Women as Engines of Economic Growth with Ethics and Good Governance • Context: The “Mutating Global Crisis” with local hard-hitting dimensions (Finance/Banking – Sovereign debt – Unemployment with rising inequality), and • Consequences: Job insecurity/ Uncertainty/ Greed and the deteriorating Moral Fibre

  3. South African Context • Commendable resilience against crises, but slow recovery • Recognition of ethics and governance as organizational issues“catastrophic corporate failures caused by unethical individual behaviour, ethically weak corporate cultures and dubious accounting or auditing practices” Ethics SA • Fraud and Corruption and the related costs. The National Planning Commission (NPC) identified corruption as one of the nine major factors that prevent South Africa from eliminating poverty and inequality.

  4. Implications for women leaders • Limited pool (generalization of isolated incidents) A man can lose his honour and regain it. But A woman’s reputation is all she has, there’s no forgiveness for women. • Women as human beings affected by context • Women as nurturers • Director liability and increased responsibility

  5. 2010 2011 2012 Census Trend Pyramids (BWA 2012) 4.5% 3.6% 4.4% CEOs 6.0% 5.5% 5.3% Chairpersons 16.6% Percentages focus on number of women in JSE-listed companies and SOEs as a percentage of all positions 15.8% 17.1% Directorships 19.3% 21.6% 21.4% Executive Managers 52.0% 51.6% 51.3% Women as % of South African population Results for CEOs and Chairpersons do not include subsidiaries. Directorships and Executive Managers include subsidiaries

  6. Responses • Governance and ethical risk management: Companies Amendment Act (no. 3 of 2011) with mandatory social and ethics committee. The Act stipulates (in section 72(4)) that the Minister may pass regulations requiring of certain companies to put social and ethics committees in place. • Self-regulation and Reward: Sustainability Reporting with Annual awards for listed and state owned enterprises • Anti-corruption Agencies • Limitations of all – limited outreach, with fragmented and under-resourced responses.

  7. Recommendations • Shared agenda, promoting value-based compliance culture, transparency and accountability (from the Shareholder(s), Board, Executive Management to all levels of staff, [NB this is a process not event]; • Training and on-going learning for all parties; • Nurture Ethical/Accountable leadership and Knowledge exchange – e.g. Transparency International and Social Accountability International initiatives; Business Principles for Countering Bribery to encourage companies to develop anti-bribery codes or policies; • An agenda item for all women’s gatherings and publications to share ideas on the complexities: - cost of compliance, proactive risk and conflict management, assurance, managing emotions and keeping the balance.

  8. Transformative Knowledge Exchange Email socialwheel@live.com Website www.socialwheel.co.za

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