 Rydych chi'n cael ei roi'r gwaith efallai i'r thawr yn mynd. Yn ymddangos cymhawisi 2014, gynnyddion ni Oly grin yn ddiogelol rhai'r bu椅d. Mae'r Gwyrddol yn credu ffrifesio. Os ymddangos hwn yn defnyddio'r tiesion, rydyn ni'n ffurdig o willach sydd yng nghymru. Roedd ydych chi'n mynd i gael dargiogio'r corff innu amddangosododol, ac mae'n ffrifesio ymddangosodol o'r digon. a mae angen ar fy meddwl yn edrych eich fod yn gymgylchedd gylau ffordd iawn deall rhywbeth ar ihanol. Mae'r cyn Vallffredin yw'r cyfriddau o'r panel yn ddechrau gael unrhyw ynddyn nhw i'r Fagy Fangard. Fe wnaeth i'n rhoi rhai ar hyn o wahanol ar y sleid, os y cardio a'r adeb, i'n meddwl ei wneud ffordd iawn i ffordd iawn i eu bod yn wneud yw'r adeithaswn eu ddwyng. Rwy'n ddweud i rhaid i'w peu o'r minum. α Firstly, I welcome my panel. To my left, I have David Seaton, CEO of Floor Corporation and chair of the Apache Vanguard, who will talk about the structure that has been put in place. Federico Caredo, President and CEO of Ombray. Introducing the Safe-guarding Aviation and Travel Value Chains Against Corruption Report, which is launched here in Davos this week. Fy enw, Fritz van Paschen, CEO ddechrau Starwood yng Nghymru a'r ddechrau Llywodraeth. Mae'n gweithio'r agenda yng Nghymru Cymru. Yn ystod, Mr Seaton. Yn ystod, Oliver. Yn ystod, maen nhw'n gweithio'r prydysysgwyr a'r ddechrau'r CEO'r ddechrau'r ddechrau'r ddechrau'r ddechrau'r ddechrau'r ddechrau'r ddechrau'r ddechrau'r ddechrau'r ddechrau'r ddechrau'r ddechrau. Since that time, I think we've made much progress. Pachi's signatories and many other global corporations have done an excellent job of putting best practices in place for compliance programs that have affected the slowing of the supply side of corruption. While there has been progress, there's much more to be done, both in terms of the supply side but also the demand side of corruption. Today I'm pleased to announce the creation of the Pachee Vanguard Group. This group is a natural evolution of Pachee to a new phase of proactive leadership in the fight against corruption. As opposed to working largely on the supply side of this issue, we are now moving to be actively focused on the demand side utilizing a range of collective action strategies. A major focus for this year will be the collaboration with the OECD, which brings a strong business voice calling for more effective implementation and enforcement of the OECD Convention on bribery and corruption. Earlier this week we met with OECD Secretary General Greer to formalize this action and the Pachee Vanguard CEOs will meet this year with government officials signatory to the OECD enforcement groups that hopefully to make that more of a high priority issue for those governments. Our goal here is to level the playing field and enable fair competition, which can only happen through consistent application of a global legal framework. It is our view that we don't need any more new national laws, but rather a full-fledged commitment to effectively enforce the laws that are already on the books. We are very pleased and enthusiastic to be working with Secretary General Greer and the OECD on this critically important undertaking. The Vanguard Group will also facilitate the collective action initiatives both globally and regionally through new industry-level collaborations. I think the best example of that is the forum's aviation and travel sector, which has done a really good job of kind of connecting the dots between these work streams, both in terms of industries and regions, but also the subject matter that we have relative to corruption. Thank you. Mr Carradeau. Well, yes, we, in the aviation and travel community, we had three concentration points in 2012 which are related to connectivity to trade and also to travel facilitation, but last year as a group we debated and we decided to create this project which outcome was just released and that project was called Safeguarding Aviation and Travel Value Chains Against Corruption. Why have we done this? Large companies, global reach, global supply chains, so an industry we exposed to risks, so there was a clear unanimous push towards the project and with that we partnered from day one with Pachi, the organization of Pachi, and we had also the very competent support from Deloitte in this endeavor. Again, as David just said, assuring a level playing field in the industry, assuring that no unfair treatment will be done, it's good for the industry, it's going to improve the competitiveness and investments overall. The industry has been fighting for, against protectionism and should also fight against any sort of misconduct and corruption. This report, to get to this report besides of course the support from Deloitte, we had from our own companies 50, not less than 50 chief compliance officers sharing knowledge, sharing best practices, and also legal counseling experts from over 30 organizations. So it was a pretty comprehensive and deep dive into the issue. So the report fundamentally assesses the key corruption risks within and across sectors and also proposes concrete recommendations, Fritz is going to speak a little bit more about that. So we are certainly committed and excited about this prospect, it is a CEO-led initiative, we do expect that other industries will be motivated by what we have done in aviation travel, and ultimately we contribute for improvement of the state of the world in this aspect of moving corruption out of the system. So the agenda is fundamentally to seek a sector alignment on compliance, to build cross industry and public-private coalitions to address global risks, to collaborate with governments to design corruption out of the value chains, and finally the fourth point is to position the industry as part of the global effort against corruption, so that's what it's all about. So I think it's a very good timing with the creation of Vanguard that we come up with this report, so it's I think adds up to the whole global effort. Thank you. Thank you very much. Mr Van Passion. Yes, so I'd like to speak a bit more about the aviation and travel collective action agenda, and maybe first start just by setting the context around what may be a very straightforward point, but one important to make, and that is that corruption today is one of the major obstacles to social and economic development in so many places around the world, and the opportunity therefore for us not only to benefit the markets where we operate, but for our companies to operate more effectively and profitably, this was a very important effort for us and we were very enthusiastic about joining the group. The endeavor here is also not just to get a more level playing field, but to have a greater playing field by being able to participate and enact in more markets, and so some of the things that we were able to realize is that there are benefits certainly for us working together and that our competitors directly might be doing and acting in the same way that we will, but we realize more and more that there's considerable benefit across businesses and across sectors in understanding how to work better in markets. As it relates to our own business today, about 80% of our growth is in markets that have had significant issues of corruption at least in the past and even still today, and some of the actions that we've looked at within this project would be how we can get better at partner selection and certifying the people that we work with, how we can implement better financial controls, oversight, management of cash, auditing, risk management, how we can improve training and communication within our own organizations, but then how we can also speak with one voice with governments to be able to speak to some of the problems and issues that we have and point to some of the solutions, which conceptually are not that difficult, but consistent enforcement is still the issue that we want to be able to have conversation about. Thank you. Thank you very much. I take questions. Pranjal, thank you. Pranjal Sharma? Pranjal Sharma, from India. Just a question, how difficult has it been to convince the CEOs to become the vangards because it's one thing for them to take a responsibility for themselves and then of course to be the champions for a cause and then to convince other people to come in. It's a huge responsibility and there's multiple and very complex regulations and the description of corruption across various markets again varies. So it is a huge task. What will make this work? Well, I think the whole concept of collective action is the key. But to your first question, I think most CEOs want a level playing field. They don't want any kind of advantage. They just want to be able to win or lose the business based on their own merits. When corruption is part of the system, then that's not possible. The World Bank suggests that a trillion dollars is wasted every year to corruption. If you think about the infrastructure needs of the world, I believe that trillion dollars is better used somewhere else as opposed to lining someone's pocket. So when you think about those kinds of concepts, I think it's been very easy to get CEOs energized about this process and it's not just what you see on the surface. So what we've all agreed to do is go back to our companies and put in place programs and systems training and education programs and systems to make sure that our companies individually understand what our expectations are. And then as I say, collectively looking at things in different different industries and how we utilize the best practices around this subject to make sure that we've got something that's got teeth. I believe that the work that's been done here at the forum is largely repository of information that's being used by the B20 as they put together the working papers for the G20. In fact, corruption, anti-corruption has been one of the work streams since Korea and will be a key part of the Australian presidency of the G20. So I think there's a groundswell of effort that frankly is making it easier for CEOs to see why we're so passionate about this subject and why they're so eager to be a part of it. I would say as business leaders we're always challenged with allocating scarce resources, whether it's our own time or the resources of our businesses more specifically. And when we had the opportunity to address corruption collectively and more effectively, as opposed to putting an equal amount of resources against trying to make sure and ensure and compliance on our own, I think the case can be made pretty compellingly for business leaders. And what's valuable about the forum is it gives us the opportunity to convene business leaders from different sectors and have that conversation. When we had those conversations, the reaction has been very supportive because I think we all recognize both the difficulties today as well as the opportunity for getting this right. You know, part of the learning, part of the learning is, and I think there's been some high profile judgments against companies. I think everyone will tell you that the businesses that were involved in the corrupt activities were bad businesses. And they didn't make money. So there's another compelling business reason for for making sure that we're focused on fighting corruption. I would just add that on top of course the moral issue, which I think is certainly a point for for every responsible CEO. I would say there is a vested interest because you know, every CEO wants really to push risk out of the process of the company. So it's the more we can put this, you know, this sort of problem away, the better it is for for the company. And for the CEO person, it's to your question, there's a vested interest to make sure that there is a risk free environment also in that respect. I think that that our responsibility is to is to create a framework that has a consistent that allows a consistent dialogue. I think our partnering with OECD is is is the entity that has the ability to actually deal with the policing and adjudication of these problems and enforcement. Thank you. But I think you're right. I mean, I think that you're seeing more and more vocal CEOs. But you know, I think the naming and shaming is part of the equation, but also think focusing on the people that are doing it right is also part of it. Yeah, and leading by example is I think where where the three of us are. Yeah, I would add to that, too. I think that it would be easier if self reporting were more transparent and more straightforward. And so the way systems are set up today, business leaders aren't always in a position to be as open for for a variety of reasons. And I think from a legislative standpoint, one of the things that we are looking at is how we can get into a position where self reporting is actually encouraged and not, in fact, complicated the way it is today. Thank you. Lady at the front. Angela from senate.com China. I have a quite interesting question. For example, one of your like, I don't know, CEOs, you haven't been to any of the emerging markets supposed you never been to. And you have the initiative to invest in, for example, Nigeria, or some south is the Asia countries. But the corruption is a common problem in this emerging markets and especially new emerging markets. You never been there, but you you launched this anti corruption question. You you you address this question and you want to do it collectively. So do you think it would be a very good signal for you to get a project in those emerging markets? And how can you get a dialogue between the business and the government to talk about the talk about it? While one is not a public topic? Maybe it's just something in the shadow? Well, my company's been active in China since 1979. Really? So we we we know quite well that the challenges that are there. And I think that this whole process is a journey. And in the education is part of that journey. We've been very fortunate. The people we've worked with in China have have followed the same ethos that that we have, even though there are issues around the DNA, if you will, of some of the some of the people in some of the countries that see this as just part of business. I think it's our obligation to try to communicate and educate on another way. There are certain countries that my company won't work in for the rare reasons that you talk about. We're currently active in 89 countries around the world. And we're faced with these issues. And I think the key for us is how well have we educated our employees into what our what the expected behaviors are to be a fluor employee. And I know that my colleagues have done the same thing. So I would suggest we're on a journey. I would love for some Chinese CEOs, Nigerian CEOs, some Southeast Asian country CEOs to become part of Pachi so that they have access to the information and the educational opportunities that exist through the forum and through the Pachi Vanguard. Well, there is one. There is one CEO at the table who comes from an emerging country. I'm from Brazil. Ember has had quarter in Brazil, although we are in 40, we have customers in 45 countries. So it's so it is just one example of, you know, trying to push the message. If in a given country, so there is such an environment and the whole industry, all the options, if you will, they do not tolerate this sort of behavior. So whoever is trying to have a mission, they have nowhere to go. So I think, you know, the strength of having an industry wide position is that, you know, in the end, as they've just mentioned, you ended up companies not doing business in that country. So that I think has some power to try to revert any wrong initiative from, you know, whichever, whichever governmental future you may find. Yeah, I would invite more CEOs from emerging markets to join Pachi. We first opened, we opened the first global branded hotel in China in 1985 with the Sheraton Great Wall. And a number of the executives who opened that hotel are still with their company today. And I can tell you that both in China and in other markets around the world where we've been a first mover, what's striking to me is that we have, of course, very different cultures as we go around the world. But the corporate culture within our company, when it comes to the values that we have are consistent across personalities and geographies and generations. And we wouldn't have it in any other way. Please. I can't speak on behalf of other companies. I can tell you that oftentimes, the actions that you take when you find out something has happened are more telling than when nothing has happened. Of course, it's all about changing the culture so we don't have problems like that, of course, happening. Thanks very much. Indeed, this press conference is now closed every we will have to move on to very packed agendas. Thank you very much for joining us. Thank you to our audience watching this new media center and elsewhere on our webcast platform. Thank you.