Berkshire Hathaway among least transparent corporations in world

Transparency International has come out with its report on 105 biggest publicly traded companies based on their commitment to transparency. And yes, of these there are two Indian companies on the list - ONGC (rank -39) and Reliance Inds (rank is 54). However, these are featured some where in the middle of the list with a score of 5.4 and 4.7, respectively.

“Multinational corporations can and must play a significant role in the global fight against corruption. As the world continues to recover from the deep economic pain of 2008, the leadership at more companies must commit to stopping corruption,” said Transparency International’s Chair, Huguette Labelle said.

Norway’s Statoil was the highest scoring company with a score of 8.3 followed by Rio Tinto and BHP Bilton at 7.2 and Lakshmi Mittal owned Arcelor Mittal at 6.9.

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The worst performers were Bank of China (1.1), Bank of Communications (1.7), Honda Motor (1.9), China Construction Bank (1.9). Warren Buffet’s Berkshire Hathaway also scored among the least transparent with a score of 2.4.

(Company scores ranged from 0 to 10, where 0 is the least transparent and 10 is the most transparent, and were based on public availability of information about anti-corruption systems, transparency in reporting on how they structure themselves and the amount of financial information they provide for each country they operate in)

View/download the report below.