On-Line Guide to OECD Intergovernmental Activity

Corporate Governance Committee

Chair:

Mr. Masato Kanda

(Japan)

Vice-Chairs:

Ms. Chiara MOSCA

(Italy)

Mr. Rodrigo Buenaventura

(Spain)

Mr. Nicholas Kean Tabor

(United States)

Bureau Members:

Mr. João Pedro Nascimento

(Brazil)

Ms. Solange Berstein

(Chile)

Ms. Vassiliki Lazarakou

(Greece)

Mr. Offir Eyal

(Israel)

Mr. Rolf Skog

(Sweden)

Mr. Mark Holmes

(United Kingdom)

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

Mandate:

Documents : [DAFFE/CA/CG/M(2000)1] ; [C/PWB(99)99/2000] ; [C(2001)147] ; [C(2009)37] ; [C(2009)37/CORR1] ; [C(2010)17] ; [C(2010)17/CORR1] ; [C(2014)100] ; [C(2016)158] ; [C(2016]165] ; [C(2021]157].

Resolution of the Council [C(2021)157]

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 Revised Resolution of the Council on Partnerships in OECD Bodies [C(2012)100/REV1/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];

HAVIND REGARD to the results of the In-depth Evaluation of the Corporate Governance Committee [C(2016)158];

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 extension of the mandate of the Corporate Governance Committee [C(2021)157];

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 Partners. Further, the Corporate Governance Committee should aim to effectively fulfil its responsibilities as an international standard setter in corporate governance, including with respect to the Recommendation of the Council on Principles of Corporate Governance [OECD/LEGAL/0413], which is one of the Financial Stability Board’s twelve key standards, and the Recommendation of the Council on Guidelines on Corporate Governance of State-Owned Enterprises [OECD/LEGAL/0414].

2. Mid-level objectives include:

a)To improve the capacity of policy makers, regulators and market participants to develop and implement efficient and cost effective corporate governance rules and policies.

b)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.

c)To improve corporate governance of state owned enterprises and practices for implementing privatisation policies.

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 BIAC and TUAC, as well as other stakeholders.

B. The mandate of the Corporate Governance Committee shall remain in force until 31 December 2024.