Translations

THAI CAC - Fight Against Corruption In South-East Asia

5. Fair Operating Practices

Anti-corruption campaign

Sector Services

Year 2017

Country Thailand

Transmitter

Context

Thailand’s Private Sector Collective Action against Corruption was born in 2010 in Bangkok. CAC is an initiative by the Thai private sector to take part in tackling corruption problems via collective action. It was initiated because corruption in Thailand is still one of the biggest economic problems and not a lot of actions are implemented, despite the presence of many regulations. It aims to bring effective anti-corruption policy and mechanism into implementation by companies in order to create an ecosystem of clean business.

Objectives

For the Company:

Putting Thai companies in the spotlight by improving their transparency
Giving Certification to companies who have implemented anti-corruption policy and followed CAC Standards
Making Thai companies more compatible with anti-corruptions international standards

For the Society:

Creating an eco-system of clean and responsible businesses

APPROACH

1) Targeting the companies and communities that would have embraced better the anti-corruption practice: Capital Markets and Big Companies, because they are more likely to comply since the financial institutions are already highly regulated.

2) Developing a certification process:

Complete the 71 checklist
External auditor
Submit the document to CAC for review
Get certification within 18 months after declaration
Renew certification every 3 years
Comply to “Incident management process”: if you act in a bad way while being certified, you can be asked to leave the CAC

3) Developing a Sectorial approach: asking Companies to become “Change agents”, controlling the transparency of each actor of the supply chain

4) Collaborating with Public Sector, because it is important to integrate the anti-corruption process not only to the private sector, but also to involve the whole community.

WATCH again this video Business Against Corruption : Creating a Culture of Integrity at World Forum for a Responsible Economy : HERE and Read all the other documents HERE

CONTRIBUTION TO COMPANY PERFORMANCE

In the short-term no effective economic benefits can be seeing by the companies, but the implementation of an anti-corruption process will lead to long term results and benefits:

Gain trust of customers in the long run
Vaccine to reputation risk.
Improve employees’ satisfaction.
Attract more reliable investors for the companies.
Policies of companies can be implemented more effectively, and thus reach sustainable growth of their economic performances.

Today 264 companies are certified out of 855 signatory companies.