Governance Briefing — November 8, 2023

Executive briefing: On 8 November 2023 the OECD published the 2023 edition of the Guidelines on Corporate Governance of State-Owned Enterprises. The update expands expectations on climate risk, integrity, and stakeholder engagement for state ownership entities and their boards.

Key governance signals

• Climate and sustainability. State owners should ensure SOEs integrate climate and environmental considerations into strategies, risk management, and disclosures.
• Integrity and anti-corruption. The guidelines reinforce the need for internal control systems, whistleblowing channels, and transparency in procurement and lobbying.
• Stakeholder accountability. Boards are encouraged to engage with stakeholders, disclose public policy objectives, and balance commercial and non-commercial mandates.

Action checklist

• Review state ownership policies and board charters to incorporate climate governance and integrity provisions.
• Enhance reporting frameworks covering sustainability metrics, procurement integrity, and public policy outcomes.
• Implement stakeholder engagement plans, grievance mechanisms, and transparency reports tailored to SOE missions.

Sources

• OECD release on the 2023 SOE Guidelines
• OECD Guidelines on Corporate Governance of State-Owned Enterprises 2023

Zeph Tech supports state ownership entities with governance diagnostics, integrity frameworks, and sustainability reporting aligned to the 2023 OECD SOE Guidelines.

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