Anti-Corruption Governance, Global Business and Corporate Sustainability

This chapter provides an introduction to the concept of corruption, presents an overview of the major stakeholders and strategies involved in the business response to the corruption challenge and explains how this all relates to corporate sustainability.
More specifically, the chapter starts out by proposing a workable definition for corruption and explains what different forms corruption can take and what its consequences are for business and society at large. In a second step, we map the key actors, rule frameworks and initiatives that shape anti-corruption governance relevant to the business environment. We then zoom in on the company perspective and review the common approaches deployed by businesses to tackle corruption and their evolution over time, as well as some of their weaknesses and challenges ahead. The concluding section shows how the business response to corruption is linked to broader concerns about corporate sustainability, highlighting that corporate anti-corruption efforts can be considered as part and parcel of a comprehensive corporate sustainability agenda.