Action plan

  1. Get Concrete – Sectoral Impact: WFEB can help deliver concrete results in a few high priority areas (such as anti corruption, extractives, and procurement) by fostering multi-stakeholder coalitions for collective action at global, sectoral, and country levels, anchored around credible codes of conduct, self-reporting, and verification mechanisms.
  2. Mainstreaming CSR in corporate strategy: WFEB can deepen its impact by helping firms to mainstream CSR into their corporate strategy, by facilitating knowledge exchange among firms (e.g., WFEB award winners, governments (e.g. Egypt), and networks (e.g., MNA Responsible Business); helping to change the corporate culture through innovative leadership programs (TLEX, Wharton, Drucker); and recognizing success with awards.
  3. Broaden Partnerships & Engage Emerging Players: WFEB is well positioned to broaden partnerships to complementary forums and organizations (G20, UN Global Compact, TI, business associations) & engage emerging markets (BRICS including through G20).
  4. Take to Scale: The WFEB and its partners can not only support the emerging MNA and Africa Responsible Business Networks but take a lead in helping expand the model to other regions (East Asia, Latin America), and provide a platform for exchange of experiences across the regions. Monitor, Evaluate & Report Back: WFEB partners can report back on progress in annual WBEF “Ethics in Business” symposiums
  5. Monitor, Evaluate & Report Back: WFEB partners can report back on progress in annual WBEF “Ethics in Business” symposiums
  6. Call for creation of an African Responsible Business Network.
    • Leverage existing African networks & business associations.
    • Key emerging goal is to help firms mainstream CSR into corporate strategy
    • Identify companies who can share their experiences with CSR
    • Work with governments, stock exchanges, professional associations to create supportive environment for CSR
    • Call for an action-oriented approach, tackling some of Africa’s most serious challenges, such as anticorruption, better utilizing natural resources for development, and improving public procurement
      • Mobilize members to participate in country coalitions for change
      • Work with regional and global partners to establish codes of conduct and other innovative approaches
      • Develop tools to translate codes into practical business practices for firms of all sizes
    • Next steps to develop strategy and organizational & governance structure
      • Work out arrangements to coordinate among existing networks and associations
      • December meeting in Mauritius of key stakeholders has agenda item to plan how to proceed
      • Conduct knowledge exchange with the MNA Responsible Business Network
    • Young entrepreneurs agreed to create a Young African Business Trust

7th International Symposium on Ethics in Business Pledge

Strengthening Ethical Business for Shared Values and Shared Benefits
November 2010

More than 200 leaders representing companies, civil society, government, and multilateral organizations gathered in Brussels, Belgium, November 18-19, 2010 for the World Forum for Ethics in Business.

Recognizing that:

  • In the wake of the global financial and economic crisis, ethical behavior in business has never been more important.
  • Responsible business-led growth is critical to global economic recovery, as well as to ensuring sustainable impacts on the environment, local communities, good governance and the poor.
  • Collective action across the private sector, civil society and government is essential to establish ethical foundations of business in a globalized world.

We, the participants of the Forum, pledge to:

Act to promote shared values and ethical leadership at the individual, organizational, sectoral and global levels.

Serve as models of ethical and socially responsible behavior to inspire current and future generations of leaders across business, civil society and government.

Mainstream corporate social responsibility into current business practices and education.

Sustain dialogue to build greater awareness across stakeholders and shareholders of the importance of ethics in business.

Share inspiring examples of the intersection of ethics and profitability to build wider public trust in business.

Engage and partner with key individuals, forums and initiatives to leverage our collective ability to deliver transformational impact.

Monitor and report on our progress at the 2011 World Forum for Ethics in Business.