World business leaders on Friday urged more companies to support a zero-tolerance policy in fighting corruption and bribery.

Sixty-two international companies have pledged their commitment to support the Partnering Against Corruption Initiative, Newmont Mining Corp.'s chairman Wayne Murdy told a press conference at the ongoing World Economic Forum here at the Swiss ski resort.

Most of the companies are key players from the sectors of energy, engineering, construction, mining and metals.

The initiative calls for absolute prohibition of bribery and improper influence. Companies signing onto it will set up internal programs to educate and monitor their executives, said Hassan

Marican, president of Malaysia's PETRONAS.

The new pact was developed by with the help of the Organization for Economic Cooperation and Development.

The widespread adoption of the pact will raise business standards across the world and contribute to the goals of good governance and economic development.

"The signatories have demonstrated courage and leadership. We hope that many more companies will follow their example," Klaus Schwab, the founder and chairman of the World Economic Forum, noted in a statement.

Source: Xinhua