In the world today, transparency continues to be of utmost importance for businesses.

Tim Nixon, managing editor for sustainability.thomsonreuters.com, moderated a panel at the Global Ethics Summit last week that discussed transparency of global supply chains and third party compliance. The panelists included: Kim McMath, chief ethics and compliance officer, Freescale Semiconductor, Inc.; Mark J. Ohringer, executive vice president, general counsel and corporate secretary, Jones Lang LaSalle Incorporated; and Ken Resnick, vice president and general counsel, GE Oil & Gas.

As a business, there is a responsibility to customers, employees, shareholders and the global community. Leveraging transparency can serve as a competitive advantage. Through transparency, organizations build trust and “Trust is the currency of business,” stated Resnick.

Nixon spoke with Legal Current at the 2014 Global Ethics Summit, recapping the conversation.

To learn more about the importance of transparency and other sustainable efforts businesses and organizations around the world are doing, visit sustainability.thomsonreuters.com.