Press Release Summary:
Global aerospace and defense industry representatives participated in second annual International Forum on Business Ethical Conduct (IFBEC) conference, which is managed by Task Force composed of AIA and ASD member companies. Intended to promote worldwide cooperation to increase integrity in public procurements and bolster public trust, conference strengthened exchange between industrial, institutional, and state players within aerospace and defense sectors.
Original Press Release:
IFBEC Hosts Second Annual International Conference
AIA, ASD join forces to promote highest ethical standards
Washington, DC: Aerospace and defense industry representatives from around the world participated last month in the second annual International Forum on Business Ethical Conduct (IFBEC) conference. The purpose of the conference was to promote global cooperation to increase integrity in public procurements and bolster the public's trust,
The conference brought together non-governmental organizations, government representatives, major American and European companies from the aerospace and defense sectors, and industry representatives from Brazil, Canada, China, and Japan for a robust dialogue regarding issues relating to ethical business conduct , The IFBEC is managed by a Task Force composed of AIA and ASD member companies, including: BAE Systems Plc., BAE Systems Inc., The Boeing Company, EADS; L3-Communications Corporation; Lockheed Martin Corporation, Meggitt Plc., Northrop Grumman Corporation; Raytheon Company; Rolls-Royce Plc., Saab, Safran, and Thales.
The conference strengthened exchange between industrial, institutional and state players within the aerospace and defense sectors and focused on encouraging participation in the development of fair competition rules and practices. The conference highlighted the fact that industry CEOs were the driving force behind the formation of IFBEC and the strong support that the organization continues to enjoy from leaders within the industry. Shep Hill, President, Boeing International and Senior Vice President, Business Development and Strategy, The Boeing Company, opened the conference with a thoughtful discussion of the current challenges facing our industry and the increasing demands that the industry be good stewards of public funds. He challenged IFBEC to continue and expand its efforts to cultivate and enhance ethical business conduct throughout the Aerospace and Defence industry. Sean O'Keefe, Chief Executive Officer, EADS North America and Member of the Executive Committee, EADS NV, closed the conference with a similar message and charged IFBEC to have an active voice in working with all stakeholders to bolster the public trust in our industry.
The conference included panels on: Best Practices in Anti-Corruption Compliance Training; Due Diligence of Acquisition Targets; Guarding Against Corruption and Reputational Concerns in Offsets and the Supply Chain; Tackling the Demand Side of Corruption; Culture as a Foundation of Anti-Corruption Efforts; and Emerging Trends, Risk Areas, Opportunities and Challenges in the Fight Against Corruption
The IFBEC, which is a private-sector driven organization, supports the 'Seoul Action Plan' and is willing to continue a dialogue with the G20 leaders on how best to guarantee that appropriate practices against corruption are adequately implemented in the private and public sector. This dialogue will begin during the November "G20 Cannes Summit" and IFBEC recommends that the topic of fighting corruption should be included in all future G20 summits, like the upcoming summit in Mexico.
The IFBEC was created by member companies of the Aerospace Industries Association of America (AIA) and the Aerospace and Defense Industries Association of Europe (ASD) in 2010 and provides an opportunity to exchange information on ethics best practices and trends globally among industry participants and identify areas of commonality. IFBEC members have developed a set of Global Principles of Business Ethics for the Aerospace and Defense Industry, which were endorsed by AIA and ASD in Oct. 2009. The Forum is open to all companies willing to share business practices for sustainable competitiveness.
In order to participate in IFBEC, interested companies must execute an annual Company Statement about their corporate ethics policies and practices, their participation in industry-wide ethics activities and their commitment to bolstering adherence to the Global Principles within their company and among other industry partners. For more information, visit www.ifbec.info.