The Banking Executive, Issue 155, November 2021

2021 G20 Rome Summit able development and in foster- ing the resilience and the regen- eration of our economies and societies, stressing the impor- tance of international efforts to safeguard and promote culture, with a key role to be played by UNESCO, and the need to sup- port workers, including in the cultural field, also by facilitating access to employment, social protection, digitalization and business support measures. We emphasize the importance of ad- dressing threats to irreplaceable cultural resources and protecting and preserving cultural heritage damaged, trafficked or endan- gered by conflicts and disasters, recalling the objectives of UNSC Resolution 2347. We ask our rel- evant institutions to further pur- sue the G20 cooperation on culture. 57. Anti-corruption. Renewing our commitment to zero tolerance for corruption in the public and private sectors and to achieving common goals in the global fight against corruption, we adopt our 2022-2024 Anti-Corruption Ac- tion Plan. We will further strengthen our engagement with other stakeholders such as aca- demia, civil society, media and the private sector, and will con- tinue to promote their important role and active participation in this field. We are committed to fight any new and sophisticated forms of corruption. We endorse the G20 High-Level Principles on Corruption related to Organ- ized Crime, on Tackling Corrup- tion in Sport, and on Preventing and Combating Corruption in Emergencies, and adopt the G20 Anti-corruption Accountability Report. We reaffirm our commit- ment to deny safe haven to cor- ruption offenders and their assets, in accordance to domes- tic laws and to combat transna- tional corruption. We will also provide competent authorities with adequate, accurate and up- to-date information by adopting legally appropriate measures to improve international and do- mestic beneficial ownership transparency of legal persons and arrangements and real es- tate, especially trans-national flows, in line with the Financial Action Task Force recommenda- tions. 58. We remain committed to pro- moting a culture of integrity in the private sector, particularly in their relations with the public sector. In our collective efforts to better measure corruption, we welcome the Compendium of Good Practices on Measurement of Corruption. We will ensure that G20 Countries adapt their regulation and legislation to comply with the relevant obliga- tion to criminalize bribery, in- cluding bribery of foreign public officials, and bolster efforts to ef- fectively prevent, detect, investi- gate, prosecute and sanction domestic and foreign bribery. We will demonstrate concrete efforts for the duration of the Action Plan and share information on our actions towards criminaliz- ing foreign bribery and enforcing foreign bribery legislation in line with article 16 of UNCAC, with a view to the possible adherence of all G20 countries to the OECD Anti-Bribery Convention. As a means to further improve inter- national cooperation on anti-cor- ruption, we welcome the progress made by the GlobE Net- work. 59. We reaffirm our full support for the Financial Action Task Force (FATF) and the Global Network and recognize that effective im- plementation of Anti-Money Laundering/Countering the Fi- nancing of Terrorism and Prolif- eration (AML/CFT/CPF) measures is essential for building confi- dence in financial markets, en- suring a sustainable recovery and protecting the integrity of the international financial system. We stress the relevance of the risk-based approach of the FATF recommendations with the aim to ensure legitimate cross-border payments and to promote finan- cial inclusion. We confirm our support for strengthening the FATF recommendations to im- prove beneficial ownership transparency and call on coun- tries to fight money laundering from environmental crime, par- ticularly by acting on the find- ings of the FATF report. We reaffirm the commitments made by Finance Ministers and Central Bank Governors aimed at sus- taining and strengthening the work of the FATF-Style Regional Bodies. 60. We look ahead to Beijing Winter Olympics and Paralympics 2022, as opportunities for com- petition for athletes from around the world, which serves as a symbol of humanity's resilience. 61. We thank the international or- ganizations and the G20 Engage- ment Groups for their valuable inputs and policy recommenda- tions. We thank Italy for its Pres- idency, for successfully hosting the Global Health Summit, co- Chaired with the European Com- mission, and the Rome Leaders' Summit, and for its contribution to the G20 process, and we look forward to meeting again in In- donesia in 2022, in India in 2023 and in Brazil in 2024. the BANKING EXECUTIVE 52 ISSUE 155 NOVEMBER 2021