In a letter addressed to UN Secretary General Ban Ki-moon, the CEOs threw their support behind the world’s only universal anti-corruption instrument, stating that it “holds the promise of curbing corruption and creates a level playing field for all participants in the global economy”.

The UNCAC, adopted in December 2003, has been signed by 140 countries and ratified by 136 to date. The UNCAC is unique as compared with other conventions not only in its global coverage but also in the extensiveness and detail of its provisions.

The CEOs praised the Convention as “an essential instrument in the fight against corruption,” while noting that the comprehensive framework can be applied to both emerging and developed countries to curb corruption in both the public and private sector.

However, the CEOs cautioned that in order for this popular anti-corruption tool to be implemented effectively, a review mechanism must be put in place. “We consider it essential that the Doha Conference in November 2009 takes action to establish an effective review mechanism. Further delay would damage the credibility of the Convention and its ability to build momentum in overcoming corruption.”

Transparency International has been leading advocacy efforts for the proper monitoring of the UNCAC and developed a set of detailed recommendations to establish an effective review mechanism.

“Transparency and accountability are cornerstones to economic success. These CEOs have shown great leadership in supporting a review mechanism that truly works, and we look forward to making the promise of this convention an anti-corruption reality”, said Huguette Labelle, Chair, Transparency International.

“I deeply appreciate the leadership demonstrated by the corporate community in this critical matter,” said UN Secretary General Ban Ki-moon, in response to the letter by the CEOs. “The business advocacy for an effective review mechanism and the growing number of States adopting and implementing the Convention are evidence of a shared commitment to tackle corruption.”