Code of ethics
The EBA Code of Conduct is addressed to a wide variety of stakeholders ranging from foreign investors, local companies, media and individuals eager to accede to, or benefit from EBA activities, aiming at setting norms and principles for guiding the behavior of all those whom EBA interacts with.
Companies from developing countries increasingly discover that traditional financial criteria are not always enough to attract investors or to conquer new markets in the EU or worldwide. The demand and supply match does not occur on a cosmetic and superficial basis. The companies need to very seriously express a genuine commitment and demonstrate conduct consistent with principles of good corporate governance.
As an union of legal entities, the European Business Association believes that FAIR BUSINESS principles and norms should serve as a platform for its performance and have to be shared and agreed by all the EBA members:
- Frame your business and ethical behavior as a rule of the game in acting with others
- Act with honesty and always behave ethically even in situations where the law is unclear or is still developing
- Implement best business management practices
- Respect intellectual and other property rights
- Bolster investor's friendly and positive business climate
- Upraise your knowledge based approach to business
- Support and participate in the EBA organized events
- Input constructive discussions of the sector and cross-sector committees, thus enabling the policy dialogue with the Government to enhance the business climate
- Never do anything that might harm the reputation of EBA
- Encourage conduct consistent with good governance and integrity principles and non-corruption practices
- Share and respect the importance of environmental protection, human rights and equal opportunities for all
- Sustain and promote the application of these principles among the EBA members and the whole Business environment of Moldova.
The European Business Association strongly supports the UN Global Compact's Ten Principles in the areas of human rights, labour, the environment and anti-corruption that have enjoyed universal consensus and are derived from:
- The Universal Declaration of Human Rights
- The International Labour Organization's Declaration on Fundamental Principles and Rights at Work
- The Rio Declaration on Environment and Development
- The United Nations Convention Against Corruption
The UN Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of core values in the areas of human rights, labour standards, the environment and anti-corruption
- Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
- Principle 2: make sure that they are not complicit in human rights abuses.
- Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
- Principle 4: the elimination of all forms of forced and compulsory labour;
- Principle 5: the effective abolition of child labour; and
- Principle 6: the elimination of discrimination in respect of employment and occupation.
- Principle 7: Businesses should support a precautionary approach to environmental challenges;
- Principle 8: undertake initiatives to promote greater environmental responsibility; and
- Principle 9: encourage the development and diffusion of environmentally friendly technologies.
- Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
It is important that the FAIR BUSINESS principles in combination with globally recognized values be applied in a manner that capture the essence thereof, nevertheless, only in combination with a dynamic financial and economic growth and an attractive political and business climate they bolster the prospects for success and sustainable development of the country.