Sanofi is convinced that its role is to support each person’s fundamental right to health through daily efforts to improve access to healthcare for people everywhere.
As a worldwide healthcare company that is keenly aware of its Corporate Social Responsibility (CSR), and all the more so upon the International Human Rights Day on December 10th, the company is committed to integrating respect for human rights into its business operations and public positions.
On June 15th, the European Union (EU) agreed on terms for the long-pending conflict minerals regulation. As one of the largest economic bodies in the world, The EU was hard pressed to develop a regulation that would make companies perform due diligence on their supply chains, ensuring that they responsibly source 3TG (tin, tantalum, tungsten and gold), or conflict minerals.
Trialogue negotiations for the EU conflict minerals regulation continued on May 11th. Members of the EU Council, EU Commission and the EU Parliament met in Strasbourg, France to further discuss the EU Conflict Minerals Regulation. While the three parties continued to negotiate over mandatory vs.
The United States Justice Department has continued its international investigation into Uzbek President Islam Karimovs eldest daughter, Gulnara Karimova. Gulnara, who is currently under house arrest in Uzbekistan, has been the target of investigations since September of 2014. Gulnara has allegedly accepted bribes from Russian and Swedish companies for access to Uzbekistan’s telecommunications market.
Companies here in the US are, for the most part, looking to expand and increase their profits by reaching into other global markets. Of course, as these companies are located here in the US and conduct business affairs here, they are subject to FCPA rules and regulation that are enforced by the Securities and Exchange Commission and Department of Justice.
With the United States spear heading the fight against corruption, other countries such as France are letting those who understand and know how to combat corruption lead the way. France was one of the first countries to involve itself in the fight against corruption by being one of the first to sign the Organization for Economic Cooperation and Development against bribery in 2000. Unfortunately, although France has taken a stance on combatting this issue, the realization is it lacks the ability to really enforce and mange its companies that have been found guilty of conducting such acts.
In the world of compliance, it is quite simple, those that follow it and others that don’t. Understandably, compliance and regulations can get confusing, but of course there are systems in place to make sure that rules are being followed and parameters are in place. As organizations grow, so do their responsibilities, but that does not give excuses to the actions taken by these large institutions. Of course there are situations where it isn’t the actions taken by the large corporations but its business partners and subsidiaries that move forward on behalf of the company.
Companies know the benefits of exposing themselves to the global market. Big brands, their products and services continue to engage with the world economy and bring new opportunity and growth for these companies. Some of the largest stages in the world, such as the Olympics and the FIFA World Cup, can be ideal opportunities for companies to expand and leverage its growth. These can pose problems as well, as cities need to be able to accommodate the millions of travelers that will be in attendance for these grand events.
Proper due-diligence and carefully looking at the suspicious activity could help in the uncovering of potential corruption and bribery acts. This is why companies have procedures and policies in place, in order to avoid potential financial loss due to Securities and Exchange Commission Fines and legal investigations. As companies begin to explore other financial opportunities, particularly overseas, companies open the door to possible acts of bribery and corruption.