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"The Asian Pacific Economic Cooperation (APEC) Forum: Business Code of Conduct, 1999" [2005] ELECD 337; in Tully, Stephen (ed), "International Documents on Corporate Responsibility" (Edward Elgar Publishing, 2005)

Book Title: International Documents on Corporate Responsibility

Editor(s): Tully, Stephen

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781843768197

Section: Chapter 114

Section Title: The Asian Pacific Economic Cooperation (APEC) Forum: Business Code of Conduct, 1999

Number of pages: 1

Extract:

114. The Asian Pacific Economic Cooperation
(APEC) Forum: Business Code of Conduct,
1999

Commentary: APEC is `the primary international organization for promoting
open trade and economic cooperation among 21 member economies around the
Pacific Rim'. The APEC Business Code (available through www.cauxroundtable.org/
APECForumBusinessCodeofConduct.html) was initiated by business leaders from
APEC States. It seeks greater transparency and predictability within both the public
and private sectors. The Code articulates seven standards for corporate conduct
intended to supplement existing codes of conduct and identifies specific issues for
company action. It also recommends policy measures for APEC governments.



International and Local Communities: A company must recognize its responsibilities toward
the international and local communities within which it operates and the individuals that
make up those communities;

Respect for Laws: A company must respect international and domestic rules and recognize
that some behaviour, although legal, may still have adverse consequences;

Stakeholder Responsibility: A company must recognize the rights of stakeholders as estab-
lished by laws and encourage active co-operation between companies and stakeholders in
creating wealth, jobs, and the sustainability of financially sound enterprises;

Responsibility for the Environment: A company must protect and, where possible, improve
the environment within which it operates, promote sustainable development and prevent the
wasteful use of natural resources;

Free and Fair Competition: A company must support free and fair competition in our indus-
tries and avoid anti-competitive actions;

Company Governance: A company should implement a company governance framework
that ensures timely and accurate disclosure on ...