Siemens and eight partners are to sign a joint charter to improve cybersecurity, identifying 10 action areas where governments and business could engage in the growth of security.

“The Charter of Trust” consists of Siemens, the Munich Security Conference, Airbus, Allianz, Daimler Group, IBM, NXP, SGS, and Deutsche Telekom.

The trust reportedly calls for the development of binding rules and standards to build trust in cyber security and advance digitalisation.

Joe Kaeser, Siemens president and CEO, said: “Confidence that the security of data and networked systems is guaranteed is a key element of the digital transformation.

“That’s why we have to make the digital world more secure and more trustworthy. It’s high time we acted—not just individually but jointly with strong partners who are leaders in their markets.

We hope more partners will join us to further strengthen our initiative.”

The trust outlines 10 action areas in cyber security for governments and businesses; these include a call to responsibility at the highest levels of government and business with a dedicated government section and chief information officer at organisations.

It further calls for companies to develop mandatory, third-party certification for infrastructure and solutions.

Wolfgang Ischinger, chairman of the Munich Security Conference. said: “Governments must take a leadership role when it comes to the transaction rules in cyberspace.”

“But the companies that are in the forefront of envisioning and designing the future of cyberspace must develop and implement the standards. That’s why the charter is so important.”