India has the most
transparent companies while Chinese firms are the most opaque, according to a
global anti-graft watchdog's survey released Monday that assesses efforts by
emerging market companies to fight corruption.
Associated
Press report continues:
Transparency
International said the report's findings were "pathetic" and
highlighted the urgent need for big multinational companies to do more to fight
corruption.
The
report covered 100 companies in 15 emerging market countries that also included
Brazil, Mexico and Russia. The overall score slipped since the last
Transparency In Corporate Reporting survey in 2013, falling a fraction to 3.4
out of 10, with three quarters of companies scored less than half.
The
Berlin-based watchdog warned that the failure of a vast majority of companies
surveyed to operate transparently risks creating an environment for corruption
to thrive both in their businesses and the countries where they operate.
Thirty-seven
Chinese companies were evaluated, making them the survey's biggest group, but
they had the weakest overall performance. The three companies that scored zero
out of 10 were all Chinese: automaker Chery, appliance maker Galanz and auto
parts maker Wanxiang Group. The list's bottom 25 spots were also dominated by
Chinese companies.
"The
very weak Chinese results stem from weak or non-existent anti-corruption
policies and procedures, or a clear failure to disclose them in line with
international practice," Transparency International said in a press
release accompanying its report.
Indian
firms, on the other hand, dominated the top spots, in part because of strict
government requirements for financial dislosures, including subsidiaries
operating in different countries. Telecom company Bharti Airtel took first
place with a score of 7.3 out of 10, followed by six units of conglomerate Tata
and technology company Wipro.
Only one Chinese company,
telecom gear maker ZTE, placed in the top 25.
No comments:
Post a Comment