Key Achievements

• PACI and the Inter-American Investment Corporation (IIC) signed a memorandum of understanding on 25 April aimed at countering corruption and bribery. The agreement will encourage corporations to take a "zero tolerance" stand on corruption and to implement effective anti-corruption programmes in the region. The joint activities will concentrate on Latin America and the Caribbean.
  Press Release | Session summary
  
  
• At the World Economic Forum's Annual Meeting 2007, the heads of Multilateral Development Banks and the IFC reaffirmed their support of PACI and agreed to explore adopting or using the PACI Principles and tools as a basis for developing their own tools for the companies they work with. Furthermore, the MDB Presidents agreed to work with PACI on individual pilot programmes to advance collective anti-corruption efforts.
  
  
• In January 2007, the Global Chairmen of the Big Four accounting firms (Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers) committed their firms to explore jointly with PACI and Transparency International the development of possible solutions which could lead to independent verification, that systems and procedures supporting the PACI Principles are in place. 
  
  
• In December 2006, a delegation representing PACI signatory companies was invited to participate in the Conference of States Parties for the United Nations Convention against Corruption in Jordan. Together with representatives from the UN Global Compact, the International Chamber of Commerce and the Fédération Internationale des Ingénieurs Conseils, the delegation prepared a Declaration giving the business community's position on the Convention. This was well received when presented to the plenary session of the Conference, attended by Heads of State, Ministers, prominent policy makers and representatives from civil society and private sector. 
  
  
• In July 2006, The first PACI Country Signatory Network was successfully launched in collaboration with the American Chamber of Commerce in Romania on 12 July 2006, bringing together an initial 20 signatory companies operating in Romania. The signatory companies agreed to work closely with other business associations as well as with governmental representatives in Romania to advance engagement against corruption.
  
  
• In June 2006, PACI was invited to join the Mobilization Committee of the Brazilian Pact for Integrity and Against Corruption, which was launched that same month to counter corruption in Brazil. The Mobilization Committee of the Brazilian Pact for Integrity and Against Corruption also includes Ethos Institute of Business and Social Responsibility, Patri Government Relations and Public Policy, the United Nations Development Programme (UNDP), the United Nations Office on Drugs and Crime (UNODC) and the Global Compact
  Brazilian Committee.
  
  
• At the World Economic Forum Annual Meeting 2006, the heads of the World Bank, the European Bank for Reconstruction and Development, the Asian Development Bank and the Inter-American Development Bank jointly agreed to work with PACI to:* Require an anti-bribery certificate from bidders on large contracts and explore requiring a copy of the bidders' codes of conduct/anti-bribery policies as further evidence of commitment and ability to abide by the certificate.
  
  
• Work with PACI at regional and country levels in workshops and anti-corruption awareness raising events § On World Anti-Corruption Day (9 December) 2005, the International Chamber of Commerce, Transparency International, the UN Global Compact 10th Principle and PACI agreed to coordinate their efforts to support business' fight against corruption and bribery.
  
  
• In November 2005, the Arab Business Council (ABC) of the World Economic Forum endorsed PACI.
  
  
• In autumn 2005, the UN Global Compact agreed to acknowledge signature to PACI as "communication on progress" for Global Compact member companies. 
  
  
• In October 2004, based on the engagement of the PACI Task Force and Transparency International, the World Bank agreed to include anti-bribery language as part of the bidding process for infrastructure projects it finances.
  
  
• Joined by the Energy and Metals & Mining Industries at the Forum's Annual Meeting 2004, they launched the World Economic Forum's Partnering Against Corruption Initiative (PACI). The Principles for Countering Bribery (PACI Principles) were developed the same year.
  
  
• At the World Economic Forum's Annual Meeting 2003, company leaders from the Engineering & Construction Industry identified corruption as one of the issues most damaging to their industry and formed a task force to identify ways to combat corruption in the conduct of international commerce.
  
  
• Signatures of 131 companies to the Partnering Against Corruption - Principles for Countering Bribery (PACI Principles).
  
  
  
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