On-Line Guide to OECD Intergovernmental Activity

Corporate Governance Committee

Chair:

Mr. Jean-Paul Servais

(Belgium)

Vice-Chairs:

Ms. Chiara Mosca

(Italy)

Mr. Toshiyuki Miyoshi

(Japan)

Bureau Members:

Mr. João Pedro Nascimento

(Brazil)

Ms. Solange Berstein

(Chile)

Ms. Vassiliki Lazarakou

(Greece)

Mr. Offir Eyal

(Israel)

Ms. Astrid Ludin

(South Africa)

Mr. Carlos San Basilio

(Spain)

Mr. Rolf Skog

(Sweden)

Ms. Matilda Curtis

(United Kingdom)

Mr. Nicholas Kean Tabor

(United States)

Participants:

Participation Plan

Members:

Australia

Japan

Austria

Korea

Belgium

Latvia

Canada

Lithuania

Chile

Luxembourg

Colombia

Mexico

Costa Rica

Netherlands

Czechia

New Zealand

Denmark

Norway

Estonia

Poland

Finland

Portugal

France

Slovak Republic

Germany

Slovenia

Greece

Spain

Hungary

Sweden

Iceland

Switzerland

Ireland

Türkiye

Israel

United Kingdom

Italy

United States

EU participation:

The European Union (EU) takes part in the work of the OECD, in accordance with the Supplementary Protocol to the Convention on the Organisation for Economic Co-operation and Development.

Observers (International Organisations):

Bank for International Settlements (BIS)

International Monetary Fund (IMF)

World Bank

Date of creation:

15th June 2000

Duration:

31st December 2029

Resolution of the Council [C(2024)85]

DRAFT RESOLUTION OF THE COUNCIL EXTENDING

THE MANDATE OF THE CORPORATE GOVERNANCE COMMITTEE

THE COUNCIL,

HAVING REGARD to the Convention on the Organisation for Economic Co-operation and Development of 14 December 1960;

HAVING REGARD to the Rules of Procedure of the Organisation;

HAVING REGARD to the Resolution of the Council on Partnerships in OECD Bodies [C(2012)100/REV2/FINAL];

HAVING REGARD to the creation of the Steering Group on Corporate Governance [DAFFE/CA/CG/M(2000)1], which became the Corporate Governance Committee in 2010 [C(2010)17], whose mandate was last revised in 2016 [C(2016)165] and extended in 2021 [C(2021)157];

CONSIDERING the OECD’s responsibility as a standard-setter and the importance of corporate governance for sustainable growth, sound financial markets and good corporate practices;

RECOGNISING the importance of an ongoing policy dialogue, effective implementation of corporate governance initiatives in Members and Partners, and the inherently cross-cutting nature of corporate governance issues;

HAVING REGARD to the proposed revision of the mandate of the Corporate Governance Committee [C(2024)85];

DECIDES:

A.The Corporate Governance Committee (hereafter the “Committee”) is renewed with the following revised mandate:

I.Objectives

1.The overarching objective of the Committee is to:

a) Contribute to economic efficiency, sustainable growth and financial stability by improving corporate governance policies and supporting good corporate practices, in Members and Partners;

b) Effectively fulfil the OECD’s responsibilities as a global standard-setter in corporate governance, including with respect to: the Recommendation on Principles of Corporate Governance [OECD/LEGAL/0413], which includes the G20/OECD Principles of Corporate Governance, forming an integral part of the Recommendation, and which is one of the Financial Stability Board’s key standards; the Recommendation on Guidelines on Corporate Governance of State-Owned Enterprises [OECD/LEGAL/0414]; and the Recommendation on Guidelines on Anti-Corruption and Integrity in State-Owned Enterprises [OECD/LEGAL/0451].

2.Mid-level objectives include to improve:

a) The capacity of policy makers, regulators and market participants to develop and implement efficient and cost effective corporate governance rules and policies, in particular with a view to helping companies access financing from capital markets, to protect investors, and to support the sustainability of corporations.

b) The capacity of policy makers, regulators and market participants to identify and respond to capital market developments that may influence access to finance and the effectiveness and relevance of existing corporate governance policies and practices.

c) The corporate governance of state-owned enterprises and practices for implementing privatisation policies, including with a view to contributing to professionalised state ownership, maintaining a global level playing field, upholding high standards of transparency, integrity and business conduct in state-owned enterprises, and fostering their sustainability and resilience.

II.Working Methods

3.To achieve these objectives, the Committee shall:

a) Provide an effective system to monitor implementation and effectiveness of agreed corporate governance standards and initiatives at national, regional and global level.

b) Identify market developments that may influence the effectiveness and relevance of existing corporate governance policies and practices, and provide timely policy advice.

c) Serve as a forum for a policy dialogue among policy makers, regulators, market participants and other stakeholders.

d) Use effective means and fora for dissemination and communication of its work.

III.Co-ordination arrangements

4. The Committee shall:

a) Promote co-ordination of all work carried out within the Organisation in the field of corporate governance, and present proposals for this purpose to other committees or to Council.

b) Actively collaborate with other relevant bodies of the OECD on cross-cutting issues related to corporate governance.

c) Engage with Partners and co-operate with the World Bank and other international organisations and bodies to support improvements in corporate governance globally.

d) Consult and share information, as appropriate, with Business at OECD and TUAC, as well as other stakeholders.

B.The mandate of the Committee shall remain in force until 31 December 2029.