Rio Tinto, BHP, Telstra, Newmont Corporation and Woodside Energy are the top 5 performers in the inaugural Openly Transparency Index^© an important tool for business in ensuring integrity is fully valued. The Index assesses transparency behaviours in corporate-government dealings and ranks companies on such things as disclosures of gifts to public officials, lobbying and use of confidential government information.

This inaugural Index focuses on the ASX50 and shows that despite a febrile environment in Australia, the practice of disclosing business-government interactions is nascent. The Index revealed some best practices in transparency with nine companies earning the “Fair” rating, 11 – “Foundational”, but the majority are at the start of their transparency journey - 28 rated – “Emerging”. None yet have scored the “Advanced” or “Leading” rating.

Reflecting on the findings, Openly CEO Nick Stravs said “Although some companies are pioneering practices and culture, there is significant work to be undertaken across the ASX50 to reach the level of transparency expected by stakeholders.”
For example, the Index reveals none of the ASX50 disclose:

• Gifts & entertainment registers relating to engagement with public officials and politicians.
• None of the ASX50 disclose policies specifically relating to the handling of confidential government information.
• 18 companies do not disclose any information about their interaction with government.
• 17 of the ASX50 are yet to make disclosures of policy and practices relating to political donations.

Survey results out today from Resolve confirm Australians are growing more concerned about the integrity of dealings between companies and Canberra.

The importance of ethical interactions between government and business has increased toward an overwhelming majority view from 76% to 84% in the past year. This is matched by a significant new perspective with 84% of respondents making clear the importance of transparency in corporate-government dealings.

Openly CEO Nick Stravs said: “The research shows year on year growing dissatisfaction with how companies interact with policy-makers. Perhaps reflecting recent scandals, Australians are increasingly calling for greater transparency in how businesses deal with politicians and government. Luckily this is an area where we do see leadership by some corporates, and a solid base on which the majority can build greater integrity through enhanced transparency.

“When it comes to disclosure by business, Openly embraces the mantra of voluntary, visible and accessible. That’s how any business can ensure its integrity is recognised, understood and valued.” he concluded.

Access the interactive ASX50 graphic and read the Openly Transparency Index^© here.