DTEK joins World Economic Forum’s Partnering Against Corruption Initiative (PACI) to speed Ukraine’s transformation

DTEK Group is proud to announce on 22 November that it has become the first Ukrainian company to join the World Economic Forum’s Partnering Against Corruption Initiative (PACI) in an effort to smash corruption in all its forms and to support Ukraine’s post-war transformation.

In becoming a member of the world’s principal CEO-led anti-corruption platform, DTEK will unite with some of the world’s largest and most prestigious companies in a range of initiatives to prevent and combat bribery and corruption. At the same time, DTEK will share unique lessons on how companies can tackle corruption against a backdrop of war or instability.

Ukraine’s fight against russia has led to a new vigour in both its private and public sectors to eradicate the scourge of corruption. As Ukraine’s largest private investor, DTEK is proud to present a new Ukraine to the world, helping to encourage the foreign investment needed to rebuild the country.

In announcing the company’s membership, DTEK CEO Maxim Timchenko said:

“Joining PACI further demonstrates our total commitment to beating corruption and helping build a new Ukraine. Partnering with some of the world’s most important companies through this initiative represents an important step forward for Ukrainian business and can bring understanding to a wider global audience about how to beat corruption in the most challenging circumstances.”

DTEK already has a rigorous series of anti-corruption safeguards in place and earlier this year engaged KPMG to outline the controls it uses to track foreign assistance to the war-shattered energy sector.

As a result of membership, DTEK will further commit to PACI’s Principles for Countering Corruption:

1. Set the ‘tone at the top’ through a visible and active leadership commitment to zero tolerance of corruption in all its forms.
2. Build an internal commitment to a culture of integrity that encourages, recognizes and provides positive support for ethical conduct.
3. Foster transparency throughout the organization and in interactions with stakeholders.
4. Comply with the letter and spirit of all applicable laws and regulations in the jurisdictions where signatories operate and transact their business.
5. Encourage and provide support to business partners to uphold the same ethical standards that PACI members observe.
6. Engage in PACI and other collective action initiatives to bring a coordinated response to the challenge of corruption, whether in specific geographies or industry sectors.