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62 Companies Commit to a Zero-Tolerance Policy to Combat Corruption and Bribery
Top players from the energy, engineering & construction, and mining & metals sectors sign support statement to the Partnering Against Corruption Principles

28 January 2005 - Davos, Switzerland

In a collaborative move to fight corruption and bribery, 62 corporate leaders have committed to supporting a zero-tolerance policy. The World Economic Forum’s Partnering Against Corruption Initiative (PACI) announced at the Foundation’s Annual Meeting 2005 that the following companies have signed the support statement to the Partnering Against Corruption Principles for Countering Bribery (PACI Principles):

The PACI Principles are derived from Transparency International’s Business Principles for Countering Bribery and call for two fundamental actions:
· a zero-tolerance policy towards bribery, and
· the development of a practical and effective implementation programme.

The companies’ support means they will either implement anti-bribery and anti-corruption practices based on the PACI Principles or use them to benchmark and improve their existing programmes so they achieve the objectives of the PACI Principles. The widespread adoption of the PACI Principles will raise business standards across the world and contribute to the goals of good governance and economic development.

“The overwhelming positive response to the Partnering Against Corruption Initiative demonstrates both the desire and urgency of addressing this issue,” said Professor Klaus Schwab, Executive Chairman of the World Economic Forum. Additionally, "The commitment of the signatory companies marks a significant step towards tackling corruption and bribery from a corporate perspective. The signatories have demonstrated courage and leadership. We hope that many more companies will follow their example and support the PACI Principles.”

ABB Ltd	Switzerland	Dinesh C. Paliwal	CEO, North America and Head, Automation Technologies Worldwide
Alcan Inc.	Canada	Travis Engen	President and CEO
Areva	France	Anne Lauvergeon	Chairman of the Executive Board
Autostrade SpA	Italy	Gian Maria Gros-Pietro	Chairman
Aveng Limited	South Africa	Carl Grim	CEO
Bechtel Group Inc.	USA	Riley P. Bechtel	Chairman and CEO
Biwater Plc	United Kingdom	Adrian E. White	Group Chairman
British Columbia Hydro and Power Authority	Canada	Bob G. Elton	President and CEO
CEZ AS (Ceske Energeticke Zavody)	Czech Republic	Martin Roman	Chairman of the Board and CEO
CH2M HILL Companies Ltd	USA	Ralph R. Peterson	Chairman, President and CEO
Cinergy Corp.	USA	James E. Rogers	Chairman and CEO
Consolidated Contractors Company (CCC)	Greece	Samer Khoury	Executive Vice-President, Operations
Corporacion IMPSA	Argentina	Enrique Pescarmona	President
Corporacion Nacional del Cobre de Chile (CODELCO)	Chile	Juan Villarzu	President and CEO
Daesung Group	Republic of Korea	David Y. H. Kim	Chairman and CEO
De Beers Group of Companies	United Kingdom	Andrew Bone	Head, Public Affairs
Emirates National Oil Company Ltd	Dubai	Hussain M. Sultan	Group Chief Executive and Member of the Board
Enel SpA	Italy	Piero Gnudi	Chairman
Eskom	South Africa	Thulani S. Gcabashe	Chief Executive
Falck Group	Italy	Achille A. Colombo	Managing Director
Fluor Corporation	USA	Alan Boeckmann	Chairman and CEO
Fouad Alghanim & Sons Group of Companies	Kuwait	Fouad M. T. Al-Ghanim	Chairman and CEO
Georgsmarienhütte Holding GmbH	Germany	Jürgen Grossmann	Owner and CEO
Godrej & Boyce Manufacturing Co. Ltd	India	Jamshyd N. Godrej	Chairman and Managing Director
Grupo Marhnos	Mexico	Nicolas Mariscal	Chairman of the Board
Halcrow Group Ltd	United Kingdom	Anthony K. Allum	Chairman
Hamza Alkholi Group	Saudi Arabia	Hamza B. Al Kholi	Chairman and CEO
Hilti Aktiengesellschaft	Liechtenstein	Pius Baschera	CEO
Hochtief Aktiengesellschaft	Germany	Hans-Peter Keitel	Chairman of the Board and CEO
Ivalsa Group	Argentina	Carlos Augusto Vallet	CEO
Karl Steiner AG	Switzerland	Peter Steiner	Chairman of the Board
Kuwait Petroleum Corporation	Kuwait	Hani A. Hussain	CEO
Lahoud Engineering Co. Ltd	Lebanon	Samir Lahoud	Chairman
Lenenergo JSC	Russian Federation	Andrey Likhachev	General Director
Mori Building Company Limited	Japan	Minoru Mori	President and CEO
Murray & Roberts Holdings	South Africa	Brian C. Bruce	Group Chief Executive
Newmont Mining Corporation	USA	Wayne W. Murdy	Chairman and CEO
Norsk Hydro ASA	Norway	Eivind Reiten	President and CEO
Obayashi Corporation	Japan	Takeo Obayashi	Chairman
Occidental Petroleum Corporation	USA	Ray R. Irani	Chairman and CEO
Ormat Industries Ltd	Israel	Lucien Y. Bronicki	Chairman
Pakistan State Oil Company Limited (PSO)	Pakistan	Tariq Kirmani	Managing Director and CEO
Peremba Group of Companies	Malaysia	Razali Abdul Rahman	Chairman
Petroleo Brasileiro SA Petrobras	Brazil	Ildo Sauer	Managing Director
PETRONAS (Petroliam Nasional Bhd)	Malaysia	Hassan Marican	President and CEO
Polski Koncern Naftowy ORLEN SA	Poland	Igor Chalupec	President and CEO
Rio Tinto Plc	United Kingdom	Leigh Clifford	CEO
Royal Boskalis Westminster NV	Netherlands	Robert van Gelder	CEO
Santos Ltd	Australia	John Ellice-Flint	Managing Director and CEO
Sasol Limited	South Africa	Pieter V. Cox	Deputy Chairman and Chief Executive
Schindler Holding Ltd	Switzerland	Alfred Spörri	Member of the Board of Directors and the Executive Committee
Skanska AB	Sweden	Stuart E. Graham	President and CEO
SNC-Lavalin Group Inc.	Canada	Jacques Lamarre	President and CEO
Statoil ASA	Norway	Helge Lund	President and CEO
Sual-Holding	Russian Federation	Victor F. Vekselberg	Chairman
TNK-BP Management	Russian Federation	Robert W. Dudley	President and CEO
Turner Construction - International LLC	USA	Nicholas E. Billotti	President and CEO
Umicore	Belgium	Thomas Leysen	CEO
Vattenfall	Sweden	Lars G. Josefsson	President and CEO
Washington Group International	USA	Stephen G. Hanks	President and CEO
Woodside Petroleum Ltd	Australia	Donald R. Voelte	Managing Director and CEO
Zumtobel AG	Austria	Andreas Ludwig	Executive Chairman

Up until today, the PACI focused on three sectors: energy, engineering & construction, and mining & metals. Within the World Economic Forum’s activities, the energy as well as the engineering & construction communities have addressed the issue since 2002, and the mining & metals community since 2003.

Given the progress achieved in these three sectors, the PACI Board has agreed today to expand the scope of the PACI and to reach out to other sectors as well.

“The need to tackle corruption proactively goes far beyond the energy, engineering & construction, and mining & metals sectors. The private sector has to take action to prevent bribery and corruption, and especially in the so-called higher risk industries such as the logistics & transport, pharmaceutical and defence sectors,” said Mark Pieth, Chairman of the Working Group on Bribery at the Organisation for Economic Co-operation and Development (OECD), Paris, and member of the PACI Board. He added: “After seeing the positive dynamic created by the PACI in these three sectors, we are convinced the Initiative has the potential to bring about significant progress in other sectors as well. We are counting on the leaders of other industries to pick up this challenge and to take steps to prevent bribery in their respective industries.”

In the context of a meeting held among representatives of the currently engaged three sectors in Davos this morning, a core discussion point concerned a company's actions following its signing on to the PACI Principles. Priority will be given to implementation as well as to the verification and monitoring of implementation.

Jermyn Brooks, Member of the Board of Directors of Transparency International, Germany, and also a member of the PACI Board, commented: "It is essential that signatory companies follow up their public anti-corruption statement with credible actions. Implementation is key. And so are self-monitoring processes – the engaged companies know this and recognize the importance of the challenge before them."

The Partnering Against Corruption Initiative, developed by leading CEOs from the World Economic Forum’s energy, engineering & construction, and mining & metals communities, in cooperation with Transparency International and the Basel Institute on Governance, was officially launched at the Annual Meeting in Davos in January 2004. As a multi-industry and multinational anti-corruption initiative driven by the private sector, PACI helps to consolidate industry efforts in fighting bribery and corruption and to shape the evolving regulatory framework. The Initiative is further supported by the Global Compact as a pragmatic multisectoral implementation effort that is in line with the goals of the Global Compact 10th Principle.

The initiative seeks to:

Richard Samans, Managing Director, Global Institute for Partnership and Governance, World Economic Forum

For a copy of the full PACI Principles, click here http://www.weforum.org/pdf/paci/principles.pdf

For more information on the Partnering Against Corruption Initiative, please contact Christoph Frei, Associate Director, Energy Industries and PACI, at christoph.frei@weforum.org or contact Valerie Weinzierl, Project Manager Global Institute for Partnership and Governance, at valerie.weinzierl@weforum.org or visit our website http://www.weforum.org/paci

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