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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Friday, January 17, 2014
Former CEO of Norway's Yara indicted on corruption charges
The former chief executive of Norway's Yara International(YAR.OL), Thorleif Enger, has been indicted on corruption charges after a cross-border bribery investigation by the police's economic crime unit, his lawyer said on Thursday.
More on Reuters.
Yara International ASA (YAR:Oslo Bors)(YAR.OL)PINX:YARIY is a Global Compact participant since 2006/02/03.
In 2012, 2011 and 2010, Yara International ASA was a Gold Contributor to the Foundation for the Global Compact.
Friday, January 10, 2014
Alcoa World Alumina Agrees to Plead Guilty to Foreign Bribery and Pay $223 Million in Fines and Forfeiture
Alcoa World Alumina LLC, a majority-owned and controlled global alumina sales company of Alcoa Inc., has agreed to plead guilty later today and pay $223 million in criminal fines and forfeiture to resolve charges that it paid millions of dollars in bribes through an international middleman in London to officials of the Kingdom of Bahrain, in violation of the Foreign Corrupt Practices Act (FCPA).
More on the U.S. Department of Justice website.
Alcoa Inc. (AA:New York)(NYSE: AA) is a Global Compact participant since 23-09-2009. The company contributed to USD 10,000 to the Global Compact Foundation in 2010.
Thursday, January 9, 2014
Novartis Accused of Paying Kickbacks for Exjade Sales
A Novartis AG (NOVN) unit was accused by the U.S. and a group of states of paying kickbacks to a specialty pharmacy to boost sales of Exjade, an iron-control drug that can cause kidney and liver failure.
More on Bloomberg.
Novartis is a Global Compact participant since 2000/07/26 and is considered as one of the organization's Founding Fathers. Novartis was a LEAD contributor (USD $65,000 +) to the Foundation of the Global Compact in 2013 and 2012, and a USD 10,000 contributor in 2010.
In 2009, Novartis International AG signed the UN Global Compact's CEO Letter against Corruption!
Labels:
(NOVN:SIX Swiss Ex),
(NVS:New York),
bribery,
corruption,
drugs,
Founding Father,
kickback,
Novartis,
Novartis International AG,
Principle 10,
Switzerland,
U.S.,
United States of America,
USA
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