Mandate:

Documents: DAFFE/CA/CG/M(2000)1]; [C/PWB(99)99/2000]; [C(2001)147]; [C(2009)37]; [C(2009)37/CORR1] and [C(2010)17]

 

Extract from document C(2010)17

“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 mandate of the Steering Group on Corporate Governance, as set

out in DAFFE/CA/CG/M(2000)1;

 

Having regard to the recommendations of the In-depth Evaluation of the Steering Group

on Corporate Governance [C(2009)37 and its CORR1];

 

Having regard to the proposed revision of the mandate of the Steering Group on

Corporate Governance and the proposal to rename it the Corporate Governance Committee

[C(2010)17];

 

Considering the OECD’s responsibility as 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 the inherently cross-cutting nature of corporate

governance issues.

 

DECIDES:

 

A.   The Corporate Governance Committee has the following mandate:

 

I.   Objectives

 

1.   The overarching objective of the Corporate Governance Committee is to contribute to economic efficiency, sustainable growth and financial stability by improving corporate governance policies and supporting good corporate practices, in Members and non-Members. Further, the Corporate Governance Committee should aim to effectively fulfill its responsibilities as an international standard setter in corporate governance, especially with respect to the OECD Principles of Corporate Governance [C(2004)61], which is one of the Financial Stability Board’s twelve key standards, and the Recommendation of the Council on OECD Guidelines on Corporate Governance of State-Owned Enterprises [C(2005)47].

 

2.   Mid-level objectives include:

 

•   To improve the capacity of policy makers, regulators and market participants to develop

and implement efficient and cost effective corporate governance rules and policies.

 

•   To improve the capacity of policy makers, regulators and market participants to identify

and respond to market developments that may influence the effectiveness and

relevance of existing corporate governance policies and practices.

 

•   To improve corporate governance of state owned enterprises and practices for

implementing privatisation policies.

 

II.   Methods to pursue these objectives include:

 

•   Provide an effective system to monitor implementation and effectiveness of agreed

corporate governance standards and initiatives at national, regional and global level.

 

•   Identify market developments that may influence the effectiveness and relevance of

existing corporate governance policies and practices, and provide timely policy advice.

 

•   Serve as a forum for a policy dialogue among policy makers, regulators, market

participants and other stakeholders.

 

III.   Co-operation and Consultation

 

•   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.

 

•   Collaborate with other relevant bodies of the OECD on cross-cutting issues related to

corporate governance.

 

•   Engage with non-Members and co-operate with the World Bank and other international

organisations to support improvements in corporate governance globally.

 

•   Consult and share information with BIAC and TUAC, as well as other stakeholders.

 

3.   The mandate of the Corporate Governance Committee shall remain in force until 31 December 2014.”