IFBEC


International Forum of Business Ethical Conduct
for the Aerospace and Defence Industry

Development of the Global Principles of Business Ethics began in 2008, bringing together key elements endorsed by member companies of the U.S. Defense Industry Initiative on Ethics and Business Conduct and the Common Industry Standards (see below) for European Aerospace and Defense. Companies that sign on commit to including programs and policies that foster ethical business conduct consistent with the Global Principles in their corporate business practices. Areas addressed in the Global Principles include zero tolerance of corruption, use of advisors, management of conflicts of interest and respect for proprietary information. The Global Principles were solemnly endorsed by the respective ASD and AIA (Aerospace Industries Association) Chairmen, Allan Cook and Robert J. Stevens, on October 2nd 2009 in Helsinki. The aim of these principles is to create a level-playing field, not only with companies on both sides of the Atlantic, but also with exporting companies from countries from all over the world.

Global Principles of Business Ethics

Programme of the Forum - 13th January 2010

Forum Report - 13th January 2010

Opinion: The value of ethics in the global marketplace, Jane's Defence Weekly - 11th May 2010

Common Industry Standards

 

In Europe, after the ratification of the 1997 OECD Convention by all Member States and the evolution of each national regulation, companies adapted their process accordingly. As time went by, more and more responsibilities were entrusted to companies, either by regulators or by the civil society, with request for increased transparency and traceability, and global and fully comprehensive compliance policies. In 2006 ASD created a specific Anti-Corruption Task Force that gathered representatives of its largest companies, which developed a common set of principles to tackle the issue of corruption through the use of agents. The Common Industry Standards (CIS), to date signed by more than 400 companies in Europe, were created.
 

CIS

Differences between global principles and CIS

 

 

 
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