Aerospace Industries Association
AIA, ASD Embrace Global Principles of Business Ethics
Industry leaders from Europe and the United States signed an agreement in Helsinki, Finland, Oct. 2 that paves the way for a global framework for business ethics in the aerospace and defense industry.
Robert J. Stevens, chairman of the Board of Governors of AIA and chairman, president and chief executive officer of Lockheed Martin, and Allan Cook, president of the AeroSpace and Defence Industries Association of Europe, endorsed a set of Global Principles of Business Ethics for the Aerospace and Defense Industry at the annual convention of ASD.
According to AIA and ASD, long-term business success in today’s global marketplace depends on ethical business behavior and a common set of standards. Areas addressed in the Global Principles include zero tolerance of corruption, use of advisors, management of conflicts of interest and respect for proprietary information.
AIA and ASD are providing the Global Principles to their members for adoption and organizing a Business Ethics Forum for companies to better understand how to incorporate them into their business practices. Additional areas of agreement to expand the scope of the Global Principles are also being identified. Going forward, other international aerospace associations will be encouraged to endorse the Global Principles to make them a truly global framework.
Development of the Global Business Principles began in 2008, bringing together key elements endorsed by member companies of the U.S. Defense Industry Initiative on Ethics and Business Conduct and the Common Industry Standard for European Aerospace and Defense. Companies that sign on commit to including programs and policies that foster ethical business conduct consistent with the Global Principles in their corporate business practices.
AIA source: remy.nathan[at]aia-aerospace.org