Sir Howard Davies
  Otmar Issing
  Vincenzo Maranghi
  Philip Lowe
  Andrew Crockett
  Jeffrey P. Owens
  Joke Waller-Hunter
  Jaap Winter
  Marinus W. Sikkel
  Philippe de Buck van Overstraeten

Noises off: As the E.U. goes for expansion, doubts surface in candidate countries
10/21/2002
The European Commission: Euroland's three biggest economies were struggling. But instead of standing firm, Brussels caved in
10/07/2002

Look After the Old Folks: Aging European populations are increasing demands on social security funds, so governments plan to make workers pay
5/20/2002

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Union of Industrial and Employers' Confederations of Europe.

BIAC
The Business and Industry Advisory Committee to the OECD

UNFCCC
Home page of the United Nations Framework Convention on Climate Change

The OECD
Homepage for the Organisation For Economic Co-Operation And Development

FSF
The Financial Stability Forum

The European Competition Commision
Europe's antitrust watchdog

ECB
Web site of the European Central Bank, located in Frankfurt, Germany

FSA homepage
The Financial Services Authority is an independent body which regulates the financial services industry in the UK


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SIKKEL'S HAMMER: The OECD is keeping an eye on corporate abuses

Marinus W. Sikkel
52, Dutch
Why He Matters: He's pushing multinational companies to improve their behavior around the globe
Location: The Hague

Posted Sunday, Dec. 1, 2002; 15.43GMT
Watch out for Sikkel if you run a multinational company that uses child labor or bribes its way into contracts in developing countries. He chairs an intergovernmental group, the Committee on International Investment and Multinational Enterprises, which two years ago, after contentious debate, pushed through a major revision of guidelines for multinational corporations, adding such issues as human rights abuses to the agenda and extending its rules to include corporate behavior around the world. Several other codes of conduct exist, but Sikkel's guidelines have been adopted as policy by the 30 member countries of the Organization for Economic Cooperation and Development as well as governments in Argentina, Brazil and elsewhere. Crucially, they come with real teeth: complaints can be filed at national "contact points," which are supposed to bring all parties in a dispute together.

Labor unions and aid groups remain skeptical about the effectiveness of the guidelines and worry that the process isn't public enough. One of their biggest concerns is that cases are handled in vastly different ways depending on where they are filed. The Czech Republic and Sweden win praise for their conduct of investigations, while critics accuse both the U.S. and U.K. of dragging their feet.

But several cases have been heard, including one involving French companies such as TotalFinaElf, which operates in Myanmar. That resulted in the French contact point issuing specific new recommendations for company behavior in Myanmar, but it didn't silence allegations that Total had used forced labor there, a charge the company denies. One of the most successful resolutions to date was a Canadian case involving Vancouver-based First Quantum Minerals that prevented the company from evicting thousands of peasant farmers from mining land in Zambia. Sikkel says the point of the exercise is not to name and shame companies but "to encourage them to do the right thing."

Patricia Feeney, a consultant and former adviser to Oxfam, says Sikkel "deserves a lot of credit for the guidelines and continues to play a critical role in trying to leverage up the level of government participation."

Sikkel also runs the Dutch contact point, which has been working on eight cases over the past year, one of which involves alleged low wages and poor conditions of workers who make soccer balls in India.



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QUICK LINKS: Front | Howard-Davies | Issing | Maranghi | Lowe | Crockett | Owens | Waller-Hunter | Winter | Sikkel | van Overstraeten | Back to TIMEeurope.com Main

FROM THE DEC. 9, 2002 ISSUE OF TIME MAGAZINE; POSTED 15.43GMT, SUNDAY, DEC. 1, 2002

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