Governance Briefing — November 8, 2023
OECD released the 2023 edition of the Guidelines on Corporate Governance of State-Owned Enterprises, emphasising climate, integrity, and stakeholder accountability for public sector boards.
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.