This blog provides information on how U.N. Global Compact participants' walk the talk. The GC is a voluntary initiative at the strategic level to engage businesses towards sustainability principles. There is however a risk of 'blue-washing' by covering up corporate misbehaviour and law infringement from large MNEs through poorly enforced 'Integrity Measures' and weak U.N supervision. Let's 'WE', civil society stay tuned!
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Tuesday, April 9, 2013
Philips to Pay $4.5 Million To Settle FCPA Allegations
Dutch electronics giant Koninklijke Philips Electronics NV (PHG, PHIA.AE) agreed to pay U.S. regulators $4.5 million to resolve allegations of foreign bribery, a spokeswoman said.
Read more: on Fox Business.
Koninklijke Philips Electronics N.V. is a Global Compact participant since 2007/03/06. Philips Electronics (PHIA:EN Amsterdam), (PHG) was a Gold Contributor to the Foundation for the Global Compact in 2012, 2011.
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