Although offset obligations are often determined by the purchasing government, there are several steps that companies can take to increase transparency and, therefore, minimise the associated corruption risks.
Does the company explicitly address the corruption risks associated with offset contracting, and is a dedicated body, department or team responsible for oversight of the company’s offset activities?
Does the company conduct risk-based anti-bribery and corruption due diligence on all aspects of its offset obligations, which includes an assessment of the legitimate business rationale for the investment?
Does the company publish details of all offset agents, brokers currently contracted to act with and/or on behalf of the company?
Does the company publish details about the beneficiaries of its indirect offset projects?