The Basel Institute, one of the founding members of the Board of the World Economic Forum Partnering Against Corruption Initiative (PACI), participated in this year’s Spring meeting of the World Economic Forum Partnering Against Corruption Initiative (WEF PACI). The event focused on sharing views on how to rebuild trust and integrity in business and government. PACI’s work is driven by the active participation of its community including the PACI Vanguard Board. Key takeaways included:

• A decline in power of traditional institutions and increased distrust is continuing to fuel protectionism and fear, especially in today’s rapidly changing world. Upholding trust and integrity through partnerships and public-private cooperation is the new imperative in an exceedingly interconnected and technologically advanced world.
• In response, WEF PACI will continue to focus on developing three areas to rebuild trust and integrity in business and institutions: Public-private co-operation; governance and leadership; and technological progress.
• Collective Action efforts in anti-corruption have evolved, although impact and results have yet to be broadly recognised. WEF PACI aims to mobilise regional networks, partnerships and coalitions to catalyse implementation of solutions on key issues.

As Collective Action continues to be an important element of WEF PACI’s work, the Basel Institute will continue to support its activities and the implementation of its projects where it makes sense to do so. For more information, please contact gemma.aiolfi@baselgovernance.org