OECD gives governance a refresh

The 2023 update to G20 and OECD's corporate governance norms signals progressive changes in our markets

During the G20 Summit in Delhi last month, world leaders endorsed the revision of the  G20/OECD Principles of Corporate Governance. First issued in 1999, these principles together with the UK’s Cadbury Committee report from 1992, and the Sarbanes-Oxley Act of 2002 — a US law — have shaped the governance landscape.

The Cadbury Committee identified governance as a “system by which companies are directed and controlled”. Its recommendations and standards have become the foundation for the system of corporate governance regulations around the world. The Cadbury report itself, however, was written to mitigate the risks of corporate failures, such as the