Driven by fair competition rules and practices, member companies of the Aerospace Industries Association of America (AIA) and the Aerospace and Defence Industries Association of Europe (ASD) created the International Forum on Business Ethical Conduct (IFBEC). Born in 2009 the IFBEC provides an opportunity to exchange information on best practices and trends in ethics and anti-corruption globally among industry participants.
The Aerospace and Defence Industry's long term success depends on companies upholding integrity in bidding, negotiating and performing contracts. Companies shall behave ethically towards their customers, suppliers, competitors, employees and other stakeholders. These Global Principles highlight key issues in the Aerospace and Defence Industry that may impact on ethical business conduct.
The report provides IFBEC members and Aerospace and Defence industry stakeholders with a picture of IFBEC member compliance with the Global Principles of Business Ethics for the Aerospace and Defence Industry developed by IFBEC and the best practices that align with those principles.
The IFBEC Transparency and Accountability Subcommittee developed the report using a detailed questionnaire thats draws on topics and issues raised by multiple stakeholder groups, including goverment officials, financial institutions and non-governmental organisations. IFBEC membership includes the most successful aerospace and defence companies in the world. The results indicate that their success is clearly linked to a consistent commitment to ethical business conduct and active resistance to corruption.
For further information, please visit ifbec.info