Renewable Energy and Low-Carbon Technologies: Anti-Corruption Lessons Worth Billions
Much of the recent expansion in renewable power and low-carbon investments has occurred in countries that pose high risk under global anti-corruption laws such as the US Foreign Corrupt Practices Act and UK Bribery Act. Because of this rapid, cross-border growth, companies that have previously worked domestically are quickly moving into international markets, with (i) employees who are unaccustomed to the legal, financial, operational, and business risks that these new locations pose; (ii) processes that are not equipped to manage these risks; and (iii) local market participants who understand the opportunities at the intersection of capital, urgency and inexperience. International expansions under similar circumstances have resulted in billions of dollars in anti-corruption fines for other industries, providing valuable lessons for what renewable energy and low-carbon technology companies can avoid in their own growth.
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