DTEK Group is proud to announce 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:
- Set the ‘tone at the top’ through a visible and active leadership commitment to zero tolerance of corruption in all its forms.
- Build an internal commitment to a culture of integrity that encourages, recognizes and provides positive support for ethical conduct.
- Foster transparency throughout the organization and in interactions with stakeholders.
- Comply with the letter and spirit of all applicable laws and regulations in the jurisdictions where signatories operate and transact their business.
- Encourage and provide support to business partners to uphold the same ethical standards that PACI members observe.
- 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.
BACKGROUND
About DTEK
DTEK Group is the leader and the biggest private investor in Ukraine’s energy sector. DTEK Group employs 55,000 people. Our companies are involved in coal and natural gas extraction; electricity generation from wind, solar, and thermal power plants; energy resources trading in local and international markets; distributing and supplying electricity to consumers; providing energy efficiency services to customers; and developing high-speed charging station networks.
Our Strategy 2030 commits DTEK Group to transforming into a more efficient, eco-friendly and technologically advanced business, guided by ESG principles. Our goal is to achieve carbon neutrality by 2040.
During the war, DTEK Group has restored power-supply more that 8 million customers in the regions affected by russian hostilities.
About PACI
Launched in 2004, PACI serves as the principal CEO-led platform in the global anti-corruption arena, aimed at promoting anti-corruption and transparency and creating a platform for business leaders, international organizations, and governments to address corruption, transparency, and compliance risks in emerging markets.
With approximately 90 signatories from different sectors across the globe, PACI has become the leading business voice on anti-corruption and transparency. It is one of the Forum’s strongest cross-industry collaborative efforts and is creating a highly visible, agenda-setting platform by working with business leaders, international organizations and governments to address corruption, transparency and emerging-market risks. Under the leadership of PACI Vanguard CEOs, the community is expanding rapidly and now focuses on implementing a global anti-corruption agenda.
Visit the PACI website here.
