Corporate employees encouraged to expose corruption: TWSE

Employees of local corporations have been encouraged to expose corruption in their organizations and thus help to increase transparency in the local capital market, according to the Taiwan Stock Exchange (TWSE).

At a join seminar recently, the TWSE and Taipei Exchange (TPEx) said there needs to be greater awareness of corruption, and employees of corporations should report any such cases to the government.

The TWSE operates the local main board, while the TPEx runs the over-the-counter market in Taiwan.

At the seminar, Yang Shih-chin, deputy director of the Agency Against Corruption (AAC) of the Ministry of Justice, likened corruption to a virus, saying it can spread and undermine the fundamentals of a cooperation and therefore should be contained and eliminated.

Yang said his agency is pushing for a law to protect whistleblowers with the hope that they will be brave enough to come forward.

If a corporate owner sends money or other valuable items as a gift to a government official who is in position to do favors for the company, that amounts to corruption, Yang told the 350 attendees at the seminar.

Employees who become aware of such actions should report the matter to the AAC, he said.

In addition, Yang said, corporations need to put mechanisms in place to prevent corruption.

In 2015, Taiwan ranked 30th in Transparency International's (TI) Corruption Perceptions Index among 168 countries, nine notches higher than in 2008, Yang said.

Taiwan was seventh among the 28 countries in the Asia-Pacific region in 2015, he said.

Also at the seminar, Taiwan Institute for Sustainable Energy Chairman Eugene Chien said the Paris Agreement within the framework of the United Nations Framework Convention on Climate Change (UNFCCC) has set a goal to limit the increase in the average global temperature to less than 2 degree Celsius.

In response to the Paris Agreement, Taiwan has written its own Nationally Determined Contributions to help reduce global warming and should seek international recognition of its efforts, Chien said.