The World Economic Forum has launched a community of top business leaders across industry — named the PACI Vanguard — based on a decade of anti-corruption work through its Partnering Against Corruption Initiative (PACI). The community aims at being the premier global business voice advocating for a more robust anti-corruption agenda.
The community, a group of 20 CEOs, builds on the more than 100 leading companies that PACI members have signed on to the PACI Principles for Countering Corruption. The PACI Vanguard will work towards establishing a harmonised legal framework that could address corruption consistently and lead to more effective enforcement.
Through a collaboration with the Organisation for Economic Co-operation and Development (OECD), PACI Vanguard CEOs will work to support the implementation of the OECD Convention on Combatting Bribery with G20 countries and others. In addition, the Forum’s wider PACI community has developed new PACI Principles for Countering Corruption based on a zero tolerance policy towards corruption.
“We need a global legal framework and an effective enforcement mechanism to win the fight against corruption. It is exciting that the OECD and the PACI Vanguard community of CEOs will work together to expand the adoption of the OECD Convention on Combatting Bribery. This is the kind of partnership between business and government that can achieve real impact and level the playing field in some of the most important growth markets in the world, ” OECD Secretary-General Angel Gurria said at the launch of the Vanguard.
As a first step towards collective action, business leaders from the aviation and travel industry have pledged to a mutually developed agenda to fight corruption. Their aim is to establish industry practices that are open, accountable and responsible at the global and regional level. The year-long project conducted by the World Economic Forum in collaboration with Deloitte, focused on the complex corruption challenges faced in the value chains of the aviation and travel sector.
The project is a first of its kind and demonstrates how traditional competitors of an industry can come together on the key issue of corporate citizenship and social responsibility, and positively influencing the practices of billion-dollar businesses and having market-shifting impact. Building on the outcomes of the project, PACI is expected to launch a series of similar industry-focused, anti-corruption collective action projects in the ICT, infrastructure and real estate industries.