Page 122 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) .indd

BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
th
nd
Business ethics would therefore in the simplest etc. are being put to practice for building up
way relate to what is morally and ethically a positive image before the society at large.
correct than simply being technically correct. Ensuring data privacy, moral entrepreneurship,
Business ethics cannot be uniform for all Strengthening anti-corruption / anti bribery /
corporates, it may vary from Company to anti money laundering laws, robust internal
Company depending upon their discretion, audits and Increasing disclosures,strengthening
priority and nature of activity. Honesty, competition laws, increasing shareholder
Integrity, Commitment, Trust, Loyalty, activism and investor protection,Voluntary
Fairness, transparency, accountability, Concern disclosures of conflicts,Commitments to the
for others, concern for society, law abiding, community etc are being observed as the new
leadership, image and reputation, commitment trending topics among corporates. Business
to excellence etc. are the common facets in case Responsibility and Social Responsibility
of most of the organizations and must form the Reporting introduced by SEBI is one of the latest
founding principles of any business ethics. trends in further obligated disclosures and
reporting in respect of social responsibilities
Touching upon the emerging trends on the
of an entity. More and more responsibility
subject, he presented as to how more and and accountability on the parts of directors,
more corporates are encouraging employee independent directors and top executives are
virtues, ethical behavior and recognizing being brought in to fore in order to reduce
the power of voice to strengthen the ethical governance risks. Corporates have started
culture. Employees are being encouraged to
publishing their ESG (Environment, social
speak up their mind openly, a mirror review and Governance) initiatives and achievements
of the corporate activities is done regularly and certainly that has now become the latest
based on online feedback from employees yardstick for large investors.
and others. Similarly proactive engagement The webinar was concluded with the Speaker
with public during disaster, compassionate
addressing a number of questions regarding
compensation in emergencies, eradicating any business ethics and corporate culture.
discrimination on basis of gender, caste, race

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