Of the 200 largest organisations in the world, more than 80% currently have a corporate code of conduct. An ever larger number of smaller organisations also have a code or are in the process of developing one. While in the 1970s and 1980s companies had to explain why they had a code, today they are cross-examined if they don't have one. A company has to have very good arguments to convince stakeholders that they can do without a code.