The updated Principles were launched at the meeting of G20 Finance Ministers and Central Bank Governors in Ankara on 4-5 September 2015. They were subsequently endorsed at the G20 Leaders Summit in Antalya on 15-16 November 2015.

04/12/2015 - Keynote address by Deputy Secretary-General Rintaro Tamaki to the Italy Corporate Governance Conference

16/11/2015 - G20 Leaders endorse G20/OECD Principles of Corporate Governance

05/09/2015 - New G20/OECD Principles of Corporate Governance will promote trust and improve functioning of financial markets

05/09/2015 - Speech by Angel Gurría to G/20 Finance Ministers and Central Bank Governors

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About the Principles

Good corporate governance is not an end in itself. It is a means to support economic efficiency, sustainable growth and financial stability. It facilitates companies' access to capital for long-term investment and helps ensure that shareholders and other stakeholders who contribute to the success of the corporation are treated fairly.

During the last decade, corporate governance rules and practices have improved in many countries and companies. But much remains to be done. And today, policy makers and regulators are faced with the important challenge to adapt corporate governance frameworks to rapid changes in both the corporate and financial landscape.

Examples of such challenges include the increasing complexity of the investment chain, the changing role of stock exchanges and the emergence of new investors, investment strategies and trading practices.

Originally developed by the OECD in 1999, then updated in 2004, the 2015 revision of the Principles of Corporate Governance addresses these and other emerging issues that are increasingly relevant. Building on the expertise and experience of policy makers, regulators, business and other stakeholders from around the world, the Principles provide an indispensable and globally recognised benchmark for assessing and improving corporate governance. The Principles have been adopted as one of the Financial Stability Board's key standards for sound financial systems, and have been used by the World Bank Group in more than 60 country reviews worldwide. They also serve as the basis for the guidelines on corporate governance of banks issued by the Basel Committee on Banking Supervision.

Methodology for assessing the implementation of the Principles

17/03/2017 - This methodology underpins an assessment of the implementation of the Principles in a jurisdiction and provides a framework for policy discussions. The ultimate purpose of an assessment is to identify the nature and extent of specific strengths and weaknesses in corporate governance, and thereby underpin policy dialogue that will identify reform priorities leading to the improvement of corporate governance and economic performance.

2015 Review

The review of the Principles ensures their continuing high quality, relevance and usefulness, taking into account recent developments in the corporate sector and capital markets.

• Read more about the 2015 review process

• Access OECD work on corporate governance

• Access the 2004 edition of the Principles

The updated Principles were adopted by the OECD in July 2015 as part of a Recommmendation of the Council.

Corporate governance and the financial crisis - The financial crisis revealed severe shortcomings in corporate governance. When most needed, existing standards failed to provide the checks and balances that companies need in order to cultivate sound business practices. The OECD launched an ambitious action plan to develop a set of recommendations for improvements in priority areas such as remuneration, risk management, board practices and the exercise of shareholder rights. This work was published in 3 phases.

Peer reviews - In response to the corporate governance challenges that came into focus in the wake of the financial crisis, the Corporate Governance Committee launched a thematic review process designed to facilitate the effective implementation of the OECD Principles and to assist market participants and policy makers to respond to emerging corporate governance risks. These peer reviews provided valuable background support to the review:

• Risk Management and Corporate Governance (2014)

• Supervision and Enforcement in Corporate Governance (2013)

• Board Member Nomination and Election (2013)

• Related Party Transactions and Minority Shareholder Rights (2012)

• The Role of Institutional Investors in Promoting Good Corporate Governance (2011)

• Board Practices: Incentives and Governing Risks (2011) ‌ 

Corporate governance, value creation and growth - This initiative was launched in 2013 by the OECD Corporate Governance Committee to address how better corporate governance policies can support corporate access to capital, value creation and economic growth. The fact-based analytical approach of the initiative provided significant input to the 2015 revision of the Principles of Corporate Governance: 

• Corporate Bonds, Bondholders and Corporate Governance, (2015)

• Institutional Investors as Owners: Who are they and what do they do?, (2013)

• Who Cares? Corporate Governance in Today's Equity Markets, (2013)

• Making Stock Markets Work to Support Economic Growth, (2013)

• Corporate Governance, Value Creation and Growth: The bridge between finance and enterprise, (2012)