Luca Enriques selected to provide feedback on the review of G20/OECD Principles of Corporate Governance
Professor of Corporate Law, Luca Enriques, was one of four academics selected by the Organisation for Economic Co-operation and Development’s (OECD) Corporate Governance Committee to provide feedback on the review of the G20/OECD Principles of Corporate Governance.
On 21 November 2022, Professor Enriques provided feedback during the 44th Meeting of the Corporate Governance Committee at the OECD Conference Centre in Paris. He was chosen to speak alongside three other academics from around the world – Professor Robert Jackson (New York University), Professor Hideki Kanda (University of Tokyo and Gakushuin University), and Professor Yupana Wiwattanakantang (National University of Singapore Business School). The OECD Corporate Governance Committee meets twice yearly and is made up of representatives from the 38 OECD member countries and all G20 economies. It co-ordinates and advises on the OECD’s work on corporate governance, corporate finance and state-owned enterprises.
In addition to Professor Enriques’s feedback, representatives of institutions and stakeholders from all over the globe were invited to share their views on the draft revisions with the delegates of the OECD Corporate Governance Committee. The delegates will then consider these views in their preparation of final draft revisions. G20 and OECD members have decided to launch the review following developments in capital markets and global governance and the review is expected to be completed in 2023. Professor Enriques commented that:
The G20/OECD Corporate Governance Principles have been inspiring corporate governance reforms and business practices across the globe for many years now. The current revision exercise is providing the opportunity for a reconsideration of some of the tenets of corporate governance in an environment that has changed much since the last edition in 2015. The new role of environmental, social and governance investing and the need for adaptation to the current polycrisis reality require the OECD to provide new solutions. The draft principles under discussion have three important features that will make them apt for purpose if confirmed in the final version: they are ambitious, flexible and cautious at the same time.
Luca Enriques is Professor of Corporate Law, in association with Jesus College. He has published widely in the fields of company law, corporate governance and financial regulation.