TOEING THE ETHICAL LINE DURING MULTILATERAL DRIFT
R&C: Could you provide an overview of the key principles of multilateralism? Historically, how significant a role has multilateralism played in solving the world’s most complex challenges?
Von Trapp: Multilateralism is built on the principle of collective action and a commitment to tackle difficult challenges that cannot be solved alone. It involves convening key stakeholders within international institutions like the United Nations (UN) or European Union, where diplomacy supersedes conflict and national interests are balanced with compromises for the collective benefit. By sharing resources and expertise, multilateralism has helped resolve conflicts, stabilise economies, promote human rights and establish global trade rules. It has been key in improving health outcomes globally like smallpox, child-mortality, tuberculosis and malaria, and vaccine access like the COVAX initiative. Multilateral efforts from UN agencies like the World Food Programme and the World Bank have also helped lift millions out of poverty. Though under pressure, the Organisation for Economic Co-operation and Development Anti-bribery Convention and the UN Convention Against Corruption have provided a universal framework to countries in adopting measures to prevent corruption, and strengthen the rule of law and trust in global markets.
Weghmann: In past decades, multilateralism has been one of the most effective and powerful mechanisms to address so-called ‘wicked problems’ – complex issues that resist resolution and have no clear end due to their interconnectedness with other problems. The global refugee crisis is an example given its relationship to factors such as conflict, climate, economics, history, society and politics. Yet, given the accelerating scale of global challenges, criticism is growing over whether post-World War II multilateral institutions can effectively respond, raising questions about their relevance and, more recently, their efficient use of resources. While there are several drivers straining multilateralism, it has never been a fixed concept – it has always evolved to drive action. But it has always been grounded in shared values. Now we are at an inflection point where we need to double down on our commitment to continue tackling these ‘wicked problems’ together and design cooperation models between the public and private sector that enable greater impact.
Apr-Jun 2025 Issue
Ernst & Young LLP