Diageo wins 'Good Corporate Governance' award at 2012 African Business Awards
Diageo has scooped the ‘Good Corporate Governance’ award at the 2012 African Business Awards. The event, organised by Africa Business magazine and the Commonwealth Business Council (CBC), was held in London on 7 June and was attended by more than 300 leaders from government, business and the diplomatic community.
The African Business Awards has, over the last five years, become a prestigious platform to celebrate business excellence and best practice, recognising the leaders and companies that are driving Africa’s rapidly transforming economies. Winners have made an outstanding contribution to the development of the continent, the economic empowerment of its citizens and the transformation of Africa’s image in international markets.
The Good Corporate Governance award recognises responsible business ethics and practices, transparency and an active policy to tackle corruption.
On receiving the award, Anne McCormick, Corporate Relations Director, Diageo Africa, said, “At the core of Diageo’s business and our values is the commitment to being one of the world’s most respected companies, with an earned reputation of integrity, fairness and good governance. This is a source of pride for our employees and is core to the long term success and sustainability of our business. As a leading business in Africa, we also believe we have an important role to play in working with other businesses, governments and civil society to build an environment where good governance is understood, expected and celebrated.”
Diageo’s comprehensive guidelines for business compliance, controls and ethics are enshrined in a global Code of Business Conduct, which is translated into 19 languages and observed as the minimum standard in all of the 180 countries in which the company operates. In addition to comprehensive training on the Code for all employees, Diageo has initiated a series of ‘Pathway of Pride’ workshops in its African markets; providing a forum for employees to share experiences, discuss the interpretation of the Code and Diageo policies, and translate it into the day-to-day working environment. Since 2010, all of Diageo’s employees based in Africa – more than 5,000 – have participated in the programme.
Diageo’s African businesses also lead or actively participate in innovative anti-corruption partnerships and initiatives, sharing best practice with other companies and organisations operating in their markets.
Nick Blazquez, President, Diageo Africa, said “We are committed to building positive relationships with governments and enriching our communities by maintaining the highest international standards of corporate governance and promoting good business practices. We are very proud to have been recognised in this way and I would like to thank all our employees and partners for their efforts in helping build this reputation.”
G7 Summit guide: What it is and what leaders hope to achieve
Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration.
Who are the G7?
The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like.
The merry band comprises:
- The United Kingdom
- The United States
Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.
Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda.
When was the ‘G’ formed?
Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s.
Why does the G7 exist?
At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted.
The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability.
It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations.
Where is the 2021 G7 summit?
This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall.
What will be discussed this year?
After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”
The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values.
According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.”