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Business Ethics And Sustainability

What is Ethics

Ethics contain set of codes of behavior that helps in deciding how we have to act under different situations. (Stuart C. Gilman, 2005)

Introduction to Asian Development Bank

The ASIAN DEVELOPMENT ADB’s corporate purpose is to promote development and movement of goods through the provision of assistance financial, services, technical and capacity building for development of economic and social interest.

The principles and values that underpin the performance of the various agents subject to this Code are as follows:

1. Ethics, as a fundamental principle for improvement performance, behavior and attitudes of the human being human, being a prerequisite and support for public trust

2. Legality (always acting according to the law), Impersonality (prevalence of public interest over private interests), Morality (conduct guided by ethical standards in good faith, decorum, loyalty, honesty and probity in the search always common good), Advertising (wide dissemination of the Institution for society) and Efficiency (better performance with economy, waste reduction, quality, speed, productivity and functional yield for better results) as principles by Public Administration

3. Justice, Governance, Honesty, Sustainability, Equality, Commitment, Democracy, Transparency, Respect, Cooperation, Trust, Discipline and Civility as institutional values

4. Meritocracy, Integrity, Innovation and Focus on Customers and Results as management principles

5. All people should be treated equally, being any form of discrimination is inadmissible, whether of social, cultural, ethnic, sexual, or relating to issues of color, age, religion, language, philosophical or political belief, sexual orientation, etc.

6. Healthy and safe work environments are indispensable to guarantee the well-being of employees and collaborators and to the adequate provision of services to customers and user

7. Corruption, in all its forms, as well as the practices fraudulent acts, nepotism, conflict of interest, illegal acts or criminals of any order are incompatible with the standard ethical conduct, which must be repudiated, and reported to the competent bodies

8. Fundamental human rights must be respected, not any act that violates the dignity of persons and equal rights between them

9. Repudiation of all pressures or attempts to interfere political, internal or external, aimed at obtaining any favors, undue benefits or advantages as a result of immoral actions, illegal, unethical or in breach of internal regulations

10. Socio-environmental responsibility as a set of fundamental performance commitments, principles and guidelines sustainable development

Constructive Relationship

a) Relationship with Customer and User:

The relationship of the administrators and other members of the statutory bodies, employees and employees of with customers and users, in order to promote the convergence of interests and the consolidation of institutional image of credibility, security and competence is governed by the following principles (ADB, 2017)

• Integrity;

• Respect;

• Equity;

• Cordiality;

• Courtesy;

• SAW. Agility;

• Diligence;

• Responsibility;

• Transparency;

• Receptivity to suggestions and criticisms;

• Confidentiality and security of information;

• Observance of principles and rules relevant to rights consumer.

In carrying out business, employees and collaborators of the ADB must follow the following guidelines;

• Offer products and services tailored to the needs of customers and users of each segment;

• Provide customers and users in a clear, objective, reliable manner and timely, all the information needed to make decisions;

• Comply with internal and external regulations that govern institutional performance;

• Comply with internal and external washing prevention standards money and combating corruption and financing the terrorism;

• Refrain from doing business with customers who exploit the child labor or slave-like labor. Prevent and combat the occurrence of acts of fraud and corruption, reporting suspicious facts to the competent authorities;

• Maintain confidentiality about information that is not yet public domain, referring to possible business with companies and people or the public sector;

• Safeguard the information of the ADB's customers, in especially those related to their economic, financial and commercial and the respective undertakings;

• Analyze financing and credit operations, according to available technical criteria, including those related to the relevant risk and viability;

• To deal collectively with decisions on credit and financing;

• Do not present indications to customers, even for them requested from suppliers or service providers, maintaining always strictly professional communication, preserving the necessary and required exemption

b) Investors and Shareholders:

Administrators and other members are prohibited statutory bodies, as well as employees and collaborators, the disclosure, without authorization from the competent authority of the ADB, of information that may impact the price of the Institution's securities and in its relations with the market or with consumers and suppliers (ADB, 2017)

ADB and its administrators and other members statutory bodies, as well as their employees and collaborators should base relations with investors and shareholders on the principles universally accepted governance and legality assumptions, impersonality, morality, publicity and efficiency, which guide the public management, aiming at:

• Transparency in relations with the market, through the provision of clear, reliable, agile and timely information that enables the evaluation of the Institution's performance or justify, in the best possible way, making investment decisions;

• Equity of treatment for shareholders and respect for their rights, not allowing privileges, both in the distribution of results, as in the dissemination of information, nor any discriminatory attitudes;

• Provision of statements, statements, reports, communications and other information that reflect the reality of Institution with objectivity, clarity, simplicity and consistency;

• Preparation of financial and accounting statements, in accordance in accordance with the law and in accordance with the principles and accounting standards in order to accurately and accurately represent accuracy, the transactions carried out, the results of operations, the cash flows and the equity and financial position of ADB

• Compliance with laws, rules and regulations and requirement compliance with counterparties. Continuous improvement of guidelines and practices of corporate governance;

• Fulfillment of the institutional mission;

• Long-term continuity of the Institution and generation of positive and sustainable results

c) Relation with Public Power

ADB is fulfilling its role as financial agent Federal Government, as well as its administrators and other members of its statutory bodies, employees and collaborators, should guide the relationship with the Public Sector and its agents by discussing democracy and the establishment of institutional partnerships, aiming at the implementation of policies, projects and programs aimed at for the sustainable development of its area of operation. (ADB, 2017)

Examples of parameters to be followed in the definition of the conduct of all administrators and other members of the body’s statutory employees and employees in relation to public agents or politicians:

• Institutional relations with public agents or politicians, regardless of hierarchical position, should be driven by legality and transparency, in particular regarding its object, purpose and destination of the resources involved, as well as followed by rigorous accountability;

• Decisions originated from relationships with the public sector should be exempt from party preferences or ideological, in order to preserve the integrity of ADB

• Partnerships and eventual allocations of resources, reimbursable or not, for the public sector they should always have as objectives the improvement of services destined for society by the government, public body or entity and the common good

Assets and Resources of ADB

This type of ethical issue is consequentialist ethical issue.

The administrators and other members of the statutory bodies, employees and collaborators must use the assets and facilities, as well as the material, technical and financial resources of ADB in a legal, zealous, sustainable way and primarily for the fulfillment of the duties that meet institutional purposes, protecting them from damage, improper handling, loss or loss, avoiding and combating all forms of misuse, abuse and waste.

The use of infrastructure, facilities, equipment, data networks, communication channels, human, material and information technology (electronic mail, internet, intranet, systems) for activities or subjects political parties, religious or commercial interests of their own or of the 3rd

Security and Treatment of Information

This type of ethical issue is consequentialist ethical issue.

The administrators and other members of the statutory bodies, ADB employees and collaborators undertake to:

• Protect information in order to guarantee its integrity,

• confidentiality and availability, as appropriate;

• Preserve information security, refraining from dealing with

• confidential matters, for the ADB's internal use, in conference rooms

• conversation, social networks and applications with internet access;

• Safeguard the confidentiality of information related to an act or fact

• relevant to which you have privileged access due to your position,

• position or function it occupies;

• Refrain from consulting the register, deposit accounts (at the

• or linked) and applications by employees or account holders

• without the need for the service, preserving confidentiality

• cadastral, ADBing, business and professional;

Gifts and Favor

This type of ethical issue is a non-consequentialist theory.

The administrators and other members of the statutory bodies, employees and collaborators in the exercise of their duties and activities undertake not to demand or ask, including through hint, nor offer, nor accept any kind of favor, gift, commission, advantage, contribution, courtesy, compensation, donation, reward, gratuity or personal invitations for travel, accommodation and entertainment for you, family members or third parties, for fulfillment of its mission or to influence another public agent to the same end. (ADB, 2020)

Conflict of Interest

This type of ethical issue is consequentialist ethical issue.

The administrators and other members of the statutory bodies, as well as body’s employees and collaborators, even if they are on leave or in period of absence, they must restrain and report any and all situations that can create, or even suggest, conflicts, real or potential, between public interests, especially those of ADB, and that may compromise the common good or influence, in an improper, the performance of the Institution's public function, always acting in a to prevent these situations from occurring. (ADB, 2007)

The conflict of interest is real when the situation generator is already consumed and is potential when the member of the statutory employee or collaborator has particular interests that may generate a conflict of interest in a future situation.

Following are examples of situations that generate or suggest conflict of interests that should be avoided:

• Disclose or make use of privileged information for the benefit of own or third party, obtained due to the activities performed;

• Exercise an activity that implies the provision of services or maintaining a business relationship with an individual or legal entity who is interested in a decision or act of an administrator, member statutory body, employed by the collegiate of which these participate in ADB

• Carry out, directly or indirectly, an activity that due to their nature is incompatible with the duties of the position, function employment, considering as such the activity developed in related areas or matters;

Privileged Information

This type of ethical issue is consequentialism ethical issue.

An Organization committed to information is one that goes beyond legal obligations and statutory. It is one that is open to communication, dialogue and the search for solutions for the problems affecting its customers, shareholders, investors, employees and employees, their businesses, the environment and, in short, the entire society.

Privileged information is considered to be information related to relevant acts or facts still not disclosed to regulatory bodies, stock exchanges or other entities and, simultaneously, to shareholders and investors in general, through wide dissemination and publication by the press organs

The administrators and other members of the statutory bodies, as well as employees and collaborators, even if they are leave or during a period of absence, must safeguard information privileged, obtained both in the exercise of their duties, and through casual means, due to the lack of discretion or care of people obliged to keep confidentiality.

Equity

presupposes the concept of justice based on equal rights, that is, it is a natural justice with a willingness to impartially recognize each one's right. This principle is materialized by the preservation of individuality and privacy, and by respect to diversity, not allowing the practice of any discriminatory acts, such as origin, social condition, hierarchical position, educational level, religion, belief or philosophy of life, disability, color, race, sex, marital status, family situation, ideology politics or association with class entities.

References for Asian Development Bank - Ethical Conduct

ADB. (2007). Managing Conflict of Interest. Proceedings of the 5th Regional Seminar on making international anti-corruption standards operational. Australia .

ADB. (2017). ADB Safegate Code of Conduct for Business Partners .

ADB. (2020). BOARD CODE OF CONDUCT, ETHICS COMMITTEE, AND PROCEDURES, AND ASSOCIATED GUIDELINES. Asian Development Bank.

Stuart C. Gilman. (2005). ETHICS CODES AND CODES OF CONDUCT AS TOOLS FOR PROMOTING AN ETHICAL AND PROFESSIONAL PUBLIC SERVICE: . Washington, DC.

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Accounting and Finance Assignment Help

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