Forum’s Initiative Joins Hands with Key Global Organizations in Fight Against Corruption

Desirée Mohindra, Media Manager, Tel.: +41 (0)22 869 1462 – desiree.mohindra@weforum.org

• First of its kind anti-corruption publication Clean Business Is Good Business - The Business Case against Corruption
• PACI joins hands with three other key global anti-corruption organizations to issue publication
• 141 Partnering Against Corruption Initiative (PACI) signatories today, see list here
• PACI Initiative Principles document here

Geneva, Switzerland, 1 July 2008 – To further strengthen action against corruption worldwide, the World Economic Forum’s Partnering Against Corruption Initiative (PACI) joins hands with the International Chamber of Commerce, Transparency International and the United Nations Global Compact to launch a first of its kind publication entitled Clean Business Is Good Business - The Business Case Against Corruption. This is the initial result of the combined efforts of the four parties committed to disseminating good practice and guidance materials and to supporting each other's implementation and compliance tools to advocate the fight against corruption to corporations, governments and public sectors.

Corruption is not only the biggest obstacle to development and economic growth, but also a major risk to companies as recent stories have demonstrated. Many corporate leaders today have assumed responsibility and implemented effective programmes to address the issue within their own context and in collaboration with others. The joint publication of the four major global anti-corruption initiatives is the first that works with the private sector to effectively address the issue and why companies must take a stance and how they can do so.

Clean Business Is Good Business - The Business Case Against Corruption outlines why companies and corporate practitioners should actively engage in the fight against corruption. The publication offers a short summary of key arguments and information including facts and figures on the issue; background on international law; overview of countries and industries most prone to the issue; the business rationale for addressing the issue; and how private corporations and the public sector along with government can engage themselves further.

"Increasingly, we are asking business decision-makers around the world to take the next step in the anti-corruption process and help bring more companies on board in order to level the playing field," said Jermyn Brooks, PACI Board Member and Director, Private Sector Programmes, Transparency International, Germany.

The World Economic Forum Partnering Against Corruption Initiative (PACI) is based on CEO commitment to zero-tolerance towards bribery and commitment to implement a practical and effective anti-corruption programme within the company - or for companies that already have a programme in place to benchmark the existing programme against the PACI Principles. These principles create a common language on corruption and bribery valid for all industries firmly believing that corruption can not be countered without leadership and commitment from the top. The World Economic Forum Partnering Against Corruption Initiative now has 141 signatories worldwide crossing all industries.

Note to Editors

• Click here for the publication Clean Business Is Good Business - The Business Case Against Corruption
• Click here for the PACI Principles document 
• Click here for further information on PACI
• For a full list of PACI signatories click here

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