Business has a critical role to play in driving for full transparency and it is important to understand that transparency makes sense as “good business” as well as being good for society. The B Team Beneficial Ownership Working Group has produced a research report that articulates the business case for Beneficial Ownership Transparency and, more broadly, a transparent environment for business.
Beneficial ownership transparency enables businesses to know who they are doing business with, financial institutions to know who their customers are, citizens to see who benefits from public funds, and law enforcement to hold individuals accountable for crime and corruption.
The research found that there are two main ways that business can act to support beneficial ownership transparency: implementing transparency and anti-corruption measures within companies; and advocating for the implementation or adoption of G20 Beneficial Ownership Principles by governments.
The report was developed alongside Global Financial Integrity and with input from the B Team Beneficial ownership Transparency working group and B Team companies.
To read and download the report click here.