Good governance contributes to sustainable value creation and is in the interest of companies as it facilitates access to capital as well as increased investor and stakeholder confidence. The OECD Principles of Corporate Governance, which are currently being revised, are an international benchmark for policy makers, investors, corporations and other stakeholders worldwide. The Financial Stability Forum has designated them as one of the 12 key standards for sound financial systems.
The October 13 consultation with the OECD Corporate Governance Committee will be an important opportunity for a discussion on the first revised draft of the OECD Principles of Corporate Governance. As a follow up, a public consultation on the draft revised Principles is planned for the end of 2014. BIAC has been involved all along the process and will continue its active contribution to ensure that the final text to be presented to the 2015 Ministerial Council Meeting reflects business considerations. BIAC is also actively involved in the review of the Guidelines on Corporate Governance of State-Owned Enterprises, which are being revised in parallel, and will participate in the next consultation on October 22.
Staff contacts: Ariel Meyerstein