OECD Trust in Business Forum 2019 | Organisation for Economic Co-operation and Development (OECD) | 1 October 2019 | Organisation for Economic Cooperation and Development, 2 Rue André Pascal, 75016 Paris, France

Generating trust is an essential condition of economic development, including the efficient allocation of capital, innovation, productivity, and business relationships. Governments and investors targeting long-term returns are driving businesses to reflect on whether they are meeting social expectations, and to reconsider current governance and decision-making models.

The inaugural forum of the OECD Trust in Business initiative will convene senior decision-makers from corporates and governments, academics and other stakeholders to lay the foundation of this multi-year initiative, scope activities and commit to collaborative actions that strengthen trust in the business ecosystem and promote a level playing field. Debates will focus on:

• Recent trends in trust in business, across industries and regions
• How to foster a compliance system that promotes an ethical culture
• The quality of audits and the govenance of professional services
• Due diligence guidance in energy sector supply chains

The global environment has shifted: heightened interconnectivity, rising inequalities, slowing productivity, environmental degradation, corruption, disruptive technological innovations, and reshaping regional-global dynamics are transforming the role of business in society. This complex environment affects expectations vis-à-vis business. Increasingly in today’s operating environment, success is measured by long-term value creation, anti-corruption, responsible business conduct and maintaining the social licence to operate have never been higher on the business agenda.

Yet, trust in business and institutions is declining. Generating trust is a key factor for establishing conditions of economic development, including the efficient allocation of capital, innovation, productivity and business relationships. The OECD Trust in Business initiative is a platform for leaders to catalyse good corporate conduct, examine market incentives for business decision-making and respond to the expectations of society in meeting current and future challenges.

The initiative promotes coordinated action to strengthen trust in the business ecosystem through:

• Capacity building solutions
Research and knowledge creation
• Setting standards and guidelines and inspiring policy reform
• Promoting partnerships
• A forum for co-operation and collaboration