Promoting Trust in Business

Introduction

The Center for International Private Enterprise (CIPE) and AmChams in Europe present the Promoting Trust in Business Brochure, part of a larger effort by CIPE to strengthen trust in business and market institutions around the globe.

This brochure contains eight case studies of local initiatives in Southern and Eastern Europe through which companies and other organizations implemented changes in their operations and launched strategic programs to help improve trust in business among their local communities. These examples include projects that companies implemented around environmental, social, and governance (ESG) factors, voluntary standards they adopted to build trust with local stakeholders, ways they enhanced the standards of partners and suppliers, or ways they strengthened local market institutions. The profiled companies come from various sectors such as food & beverage, textiles, and energy. One additional example illustrates the meaningful impact a business association can have on facilitating cooperation between the public and private sectors.

AmCham Slovenia, in its capacity as Secretariat of AmChams in Europe, solicited submissions from 19 AmChams in Europe members based in Southern and Eastern Europe. The call for examples received an enthusiastic response from both local companies and subsidiaries of multinational enterprises. CIPE and AmCham Slovenia shortlisted the top eight submissions, working directly with selected companies to develop their example into a longer case study that described what issue the company addressed, the local context, outcomes and impact, and lessons learned.

These case studies go beyond traditional stories of corporate social responsibility (CSR) or philanthropy. The selected examples are linked to each company’s core operations and relationships with its local supply chains and communities, with an emphasis on how the company has contributed to strengthening local trust in business.

CIPE and AmChams in Europe hope that by providing comprehensive case studies explaining how a company made a strategic decision to address a particular issue directly relevant to its operations – and by evaluating the challenges and outcome of its efforts – other companies and business associations will be inspired to replicate some of these initiatives. By showcasing these examples and best practices, our goal is to provide useful information and evidence that will foster dialogue, spark ideas, and encourage bold thinking about ways in which the private sector can enhance trust.

Acknowledgements

CIPE and AmChams in Europe would like to thank the companies that contributed examples of their initiatives and provided detailed information in order to create the case studies in this brochure.

Ritika Singh and Nina Marinšek coordinated overall production, assisted by the editorship of Richard Tucker, with strategic vision and expert feedback from Anna Kompanek, Eric Hontz, and Ajša Vodnik