Corruption is one of the greatest obstacles to economic and social development. The World Bank Institute estimates the total volume of bribes paid annually to be US$1 trillion, nearly twice Africa's gross domestic product. Corruption also robs local populations, particularly in developing countries, of critically needed resources, a practice that curbs economic growth and development. It is especially damaging to the engineering and construction sector, which makes such a critical contribution to international development.
While governmental and NGO anti-corruption initiatives have made some progress, international business must play a more decisive role in the fight against global corruption. As a result, Fluor helped found the World Economic Forum's Partnership Against Corruption Initiative (PACI), which is the only existing global business-driven, multi-industry anti-corruption initiative. PACI commits corporations to action by implementing zero-tolerance policies toward bribery and corruption and maintaining broad-based anti-corruption programs that guide the behavior of their employees, agents, suppliers, contractors, and joint venture partners.
Since PACI's inception, more than 120 signatory companies from the engineering and construction, energy and mining and metals industries — representing revenues of more than US$500 billion and reaching more than 1.4 million employees worldwide — have signed on to this initiative.
PACI signatories are required to review and where necessary strengthen their internal ethics and compliance programs. As a consequence of leading and signing onto this initiative, Fluor undertook a comprehensive review of its own policies and practices in 2005 and substantially enhanced them as a result.
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Fluor's Chairman and CEO, Alan Boeckmann, gave a speech at the ECOA 2007 Annual Business Ethics & Compliance Conference in Los Angeles. The speech, titled "Beyond Passive Compliance: A Proactive Approach to Reducing Corruption" challenges the audience to take a proactive stand against unethical conduct.
