Review of the OECD Principles of Corporate Governance: An Evaluation by the TUAC Secretariat
01/10/2004
First agreed in 1999, the 2002 OECD Council meeting at Ministerial level agreed to revise the OECD Principles of Corporate governance. TUAC, our affiliates and partners participated actively in the process. The process which began in March 2003 resulted in a revised set of Principles being adopted at the May 2004 meeting of the OECD Ministerial Council. Overall the newly revised Principles should be seen as part of the continuing effort to reform corporate governance so as to ensure more accountable corporations. The improvements in the stakeholders chapter give trade unions a platform to take forward the debate to help ensure that they and the workforce have a voice in the corporate decision making process. However in other areas much more needs to be done beyond this review.
What follows is an evaluation of both the negotiating process and the outcome of the exercise, and has been prepared by the TUAC project post on corporate governance and accountability. ...