8 December 2021
08:00 - 09:30
Virtual Event | Organised by CoST - the Infrastructure Transparency Initiative
| Held in in
Contact details: [email protected]
Addressing and fighting corruption
This year has seen widespread recognition of the value of infrastructure in meeting pressing global issues, from President Biden’s trillion dollar plan to the G7’s Build Back Better World to the launch of the Blue Dot Network. An estimated US$ 94 trillion of investment is also required up to 2040 to meet the Sustainable Development Goals (SDGs), however, based on current trends there will be a US$15 trillion “investment gap”.
Given our global challenges, reforming the way infrastructure is delivered has never been more important, namely, by addressing inefficiency, mismanagement and corruption in the sector. These issues are estimated to cause a one-third loss in expenditure, with this figure increasing to 50% in low-income countries.
To Build Back Better with integrity requires tackling corruption. It also requires putting the human rights of construction workers, affected communities and users of infrastructure at the heart of delivery.
CoST brings private sector into discussions
On Wednesday 08 December our event will provide a unique space for business to discuss their role in improving infrastructure integrity, human rights and defending against authoritarianism.
Our high-level panel will see major international firms reflecting on the impact of corruption on business and the users of infrastructure, the challenges ahead and how they can be managed. Stories from Uganda and Mexico will tell of the key barriers and ways of overcoming a lack of unfair bidding, local content and worker rights.
The discussion will provide clarity on how to achieve win-wins in integrity, human rights and a better business environment. It will also feed into a new private sector supporter scheme CoST will launch in 2022. The scheme will play a key role in helping companies align their commercial objectives with Democracy Summit goals and the year of action that follows it.