Global transparency survey launched by CoST – the Infrastructure Transparency Initiative.
Construction and infrastructure companies are being asked to help enhance transparency and anti-corruption efforts across the sector through a global online survey.
The survey is being conducted by CoST, the Infrastructure Transparency Initiative, the leading global initiative improving transparency, participation and accountability in infrastructure. CoST works with government, private sector and civil society to promote the disclosure, validation and interpretation of data from infrastructure projects.
The work of CoST helps to inform and empower citizens and enables them to hold decision-makers to account. The organisation operates both at a national level and with a range of international organisations to pursue common goals to better the delivery of infrastructure.
CoST wants to improve its private sector engagement by surveying construction companies’ views on how it can work more closely with the sector for mutual benefit. It is estimated that between 10% and 30% of investment in infrastructure is lost due to corruption, mismanagement and inefficiency. Recent statistics put wastage due to inefficiency at 53% (in low income), 34% (in emerging) and 15% (in advanced) economies.
Furthermore, estimates prior to Covid-19, state that by 2040 the world will face a $15 trillion gap between projected investment and the amount needed to provide adequate infrastructure. Experience indicates that increasing infrastructure transparency, participation, and accountability helps to drive reforms that reduce mismanagement, inefficiency and corruption. Applying this approach results in cost savings of magnitude, helping to meet the 2040 gap and deliver better-quality infrastructure for millions.
CoST’s approach aligns strongly with the aims of the private sector. It promotes fair competition for contracts and encourages more effective project management by procuring entities. Greater oversight throughout the project cycle also limits the opportunity for corruption, which damages both the reputation and efficiency of the sector.
CoST is undertaking research aimed at strengthening its relationship with the private sector and improving the mutual benefits for both parties. If you work in the infrastructure sector, CoST would greatly appreciate your participation in a short survey to help determine how best this can be achieved.
Speaking at the launch of the survey, CoST executive director Petter Matthews said: “We have always received good support from the private sector. At the international level this includes through industry bodies such as the International Federation of Consulting Engineers (FIDIC) and European International Contractors (EIC) and in addition, hundreds of companies in our member countries. However, we want to bring more structure to the relationships and be very explicit about how we can work together to produce mutual benefits. The research will explore how we can do that most effectively.”
If you work in the infrastructure sector and would like to contribute, please either complete the online survey and share the link with your colleagues, or send an email for further information to Anil Iyer, private sector consultant, CoST, at [email protected]