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AWB: corporate code needed.



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Australian Democrats Press Releases

Senator Natasha Stott Despoja Democrats Senator for South Australia Australian Democrats spokesperson for Foreign Affairs

Dated: 07 February 2006 Press Release Number: cpkcrdqf Portfolio: Foreign Affairs

AWB: Corporate Code needed

The AWB scandal has highlighted the need for greater regulation of Australian companies operating overseas, according to the Australian Democrats.

"The AWB scandal has raised questions about the regulation of overseas business practices exercised by Australian companies," Democrats' Foreign Affairs Spokesperson Senator Natasha Stott Despoja said.

"It is vital that corporations operating overseas are required to comply with the same standards that apply within Australia.

"I have a Corporate Code of Conduct Bill that would ensure Australian companies are required to observe basic human rights, and environmental, labour and health and safety standards when they conduct business in other countries.

"The Australian Democrats support calls for the inquiry investigating AWB to be broadened to ensure allegations of ministerial and departmental involvement are fully investigated.

"Transparency and accountability at the highest levels must be paramount, and this legislative measure will assist in achieving these aims," Senator Stott Despoja said.