Beneficial ownership transparency: A fundamental reform to accelerate sustainable development

3. Data, monitoring, and follow-up

Measurement is critical to monitoring and achieving progress, and ensuring good evidence exists to enable decision making. The Open Ownership Principles provide a framework for guiding the implementation of BO reforms. They are intended to support governments implementing effective BOT policies, and guide international institutions, civil society, and private sector actors in understanding and supporting impactful reforms.

Using the Open Ownership Principles as a framework for reviewing BO reforms, as recommended by the FfD 2023 report, in addition to the FATF Mutual Evaluations and UNCAC’s Implementation Review Mechanism, will strengthen the monitoring and follow-up mechanisms of FfD4, helping cement corporate accountability as an integral component of well-functioning economies. [75]