De La Rue together with 5 other industry leaders set up the Banknote Ethics Initiative (BnEI).
The aim of the initiative is to promote ethical business practices in the banknote industry, focusing on compliance with anti-trust laws and the prevention of corruption.
The framework of the BnEI consists of a Code of Ethical Business Practice, an audit framework with eight principles, and a set of tools and templates. Membership is open to all organisations in the banknote industry irrespective of size and experience and each member organisation will be expected to perform to a set standard, with a BnEI Accreditation Council meeting being held at least twice a year.
This was formally launched at the Currency Conference in Athens in May 2013 by its Chair Antti Heinonen (former ECB Director of Banknotes) and Philippa Foster Back, Director of the Institute of Business Ethics.
De La Rue was proud to be amongst the first companies to be accredited under the Banknote Ethics Initiative in February 2014.
Each company is audited by independent assessors GoodCorporation and KPMG.