Governance Briefing — September 13, 2023
The G20/OECD Principles of Corporate Governance were revised, adding guidance on sustainability, digitalisation, and stakeholder engagement for listed companies and state-owned enterprises.
Executive briefing: On 13 September 2023 the OECD and G20 released the revised G20/OECD Principles of Corporate Governance. The update integrates sustainability disclosure, digital transformation, and stakeholder considerations into the global benchmark for corporate governance frameworks.
Key governance signals
- Sustainability integration. Boards are encouraged to oversee sustainability-related risks and opportunities, with regulators urged to require consistent ESG disclosures.
- Digital governance. New recommendations address oversight of digital transformation, data governance, and cybersecurity.
- Stakeholder engagement. The principles promote mechanisms for stakeholder participation, whistleblowing, and equitable treatment of shareholders.
Action checklist
- Benchmark national and corporate governance codes against the revised principles, focusing on sustainability oversight.
- Update board agendas to cover digital risk governance, data ethics, and technology investments.
- Enhance stakeholder engagement frameworks, whistleblowing policies, and disclosure controls to meet emerging expectations.
Sources
- OECD release on the revised G20/OECD Principles of Corporate Governance
- Full text of the 2023 G20/OECD Principles
Zeph Tech guides regulators, listed issuers, and state-owned enterprises on aligning governance frameworks, sustainability reporting, and stakeholder engagement with the 2023 G20/OECD Principles.