International Forum on Business Ethical Conduct for the Aerospace and Defence Industry (IFBEC)

Aerospace Industries Association

International Forum on Business Ethical Conduct for the Aerospace and Defence Industry (IFBEC)

Mission

Raise the standards of business ethics in the aerospace and defence sector

Goals

The International Forum on Business Ethical Conduct for the Aerospace and Defence Industry (IFBEC) seeks to promote and foster, through its Global Principles of Business Ethics, the development of global, industry-wide ethical standards for companies that are active in the aerospace and defence sector.

The initiative provides an opportunity to exchange information on best practices in the area of ethical business practices and global trends among industry participants.

Stakeholders

IFBEC was created by member companies of the Aerospace Industries Association of America (AIA) and the Aerospace and Defence Industries Association of Europe (ASD) in 2010. Today, IFBEC counts 27 corporate members.

Activities

The IFBEC Global Principles affirm the industry’s commitment to ethical business behavior and a uniform set of standards. They address business conduct as it relates to zero tolerance of corruption, use of advisors, management of conflicts of interest and respect for proprietary information. Companies that formally adhere to the principles commit to including programms and policies that foster ethical business conduct consistent with the Global Principles in their corporate business practices. In turn, members benefit from educational opportunities, industry benchmarking, and international networking, including during the IFBEC annual conference.

This information is gathered from open-source data and in some cases has been provided by initiative facilitators. We cannot guarantee the accuracy or completeness of the information and do not take responsibility for decisions made on the basis of it. Please inform us of any errors by emailing us.

Start Year

Status

  • active
    The initiative or project is currently being worked on.

Countries Operations

    Countries Host

    Scope

    • global
      Initiative that is explicitly global in focus and mandate - i.e. not pertaining to specific countries.

    Industry

    Stakeholders

    • Private sector
      Privately owned commercial (for-profit) entities of all sizes, including SMEs
    • Civil society
      non-governmental organisations (national or international), foundations funded by private entities, faith-based organisations, Professional associations, Industry associations, Chambers of Commerce, Local Global Compact Networks

    Type

    • Engagement-focused initiative
      Joint declarations of intent, Joint capacity and learning initiatives, Industry-specific working groups, Joint events/awareness raising, Joint activities and integrity tools
    • Standard-setting initiative
      Codes of conduct, Industry/country anti-corruption policies/compliance standards, Self-assessments tools and mechanisms/methodologies, Implementation tools

    Linked resources

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