Transparency & Corruption Prevention
Corruption can result in unnecessary, unsuitable, defective or dangerous projects.The construction sector plays a vital role in supporting social and economic development. Yet it is consistently ranked - in both the developed and developing world - as one of the most corrupt areas of economic activity.
The costs of corruption in public-sector construction projects extend far beyond increasing contract prices. Corruption can hinder a nation's social and economic development at grass-roots level by undermining the rule of law and hindering the growth of strong and accountable institutions, on which sustained economic growth depends. Corruption can result in unnecessary, unsuitable, defective or dangerous projects, which are often subject to severe delays.
3.5 billion people live in countries rich in oil, gas and minerals. With good governance the exploitation of these resources can generate large revenues to foster growth and reduce poverty. However when governance is weak, it may result in poverty, corruption, and conflict.
EAP hosts the International Secretariat for the Construction Sector Transparency Initiative (CoST) , an international multi-stakeholder initiative designed to increase transparency and accountability in the construction sector.
EAP is also a founder member of the UK Anti-Corruption Forum. The Anti-Corruption Forum is an alliance of UK business associations, professional institutions, organisations and businesses with interests in the infrastructure, construction and engineering sectors (both domestic and international). The Forum's objective is to create a business environment that is free from corruption, which should give rise to fairer competition. In order to achieve this objective the Forum:
- develops and promotes actions which can help eliminate corruption;
- co-operates with government agencies, business organisations, international funding agencies and other stakeholders with a view to developing and introducing fair and effective anti-corruption legislation and procedures.