71 and sustainable governance in business : G20 countries should prioritize the implementation of integrity and anti-corruption measures to promote responsible governance . 10 Traditional approaches to combating corruption , which focus primarily on strict enforcement of laws and regulations , have proven to be only one side of the equation : the stick . Focusing on incentives highlights that integrity thrives when rewarded , not solely enforced through sanctions . Such measures are a key focus of the G20 Anti-Corruption Working Group 11 and echo the recommendations of the UN Convention against Corruption .
Additionally , G20 nations should work towards harmonizing sustainability standards and disclosures . With over
Furthermore , promoting transparency and accountability is vital for effectively addressing corruption on both the demand and supply sides . It is essential to confront misconduct related to the green transition , environmental crimes , and human rights violations .
600 ways to assess corporate sustainability 12 , the lack of consistent criteria hinders investors ' ability to evaluate performance and governments ’ to tackle issues like greenwashing . Establishing converged frameworks will provide clarity and enable effective collaboration among businesses , governments , and stakeholders , ultimately strengthening the commitment to sustainable and ethical practices .
2 . Stimulate Collective Action , engaging the Public Sector and value chains to uphold integrity : G20 countries should stimulate Collective Action by engaging both the public sector and value chains to uphold integrity . This collaborative strategy is crucial for combating corruption and fostering ethical business practices . By supporting legal frameworks , shar-
10 G20 Anti-Corruption Working Group . www . interpol . int
11 UNODC , COSP Resolution 10 / 12 , Providing incentives for the private sector to adopt integrity measures to prevent and combat corruption . blogs . worldbank . org
12 UNDP , Theme 10 Rethinking the Governance of ESG . www . undp . org