ecoDa ‘s response to the peer review on the implementation of the G20/ OECD Principles of Corporate Governance, organized by the Financial Stability Board (FSB)

09.09.2016

The paper raises a very interesting point about the differing scopes of national Corporate Governance codes and the OECD Principles. The latter takes a much broader perspective. This gives rise to the question: is the current focus on boards in most national codes too narrow or limited? Could codes be developed in a way that encompasses a more general perspective on Governance, including the role of non-board actors, stakeholders and consideration of how Governance permeates the wider organisation?

The paper makes the final suggestion to include more CSR themes in the governance codes. Currently states impose increasingly extensive reporting regulations, which result or should result in investors and other stakeholders (customers, employees and employee candidates for instance) staying away from companies showing poor performance in CSR.