Global Corporate Governance Forum

OECD Worldbank

GCGF

The Global Corporate Governance Forum is an OECD-Worldbank initiative. Its mission is helping countries improve the standards of governance for their corporations, by fostering the spirit of enterprise and accountability, promoting fairness, transparency and responsibility.

The GCGF provides a convening venue for the leading players in governance worldwide. Its theme of partnership between the public and private sector is established through a Private Sector Advisory Group, (chaired by Ira Millstein), which comprises internationally recognized business leaders serving in an individual capacity, drawn from developing, developed and transition economies. Its role is to advise on the program, on its work and provide a link to the private sectors in each of the major regions and serve as champions for reform in building a coalition for change. The Forum will also establish a Consultative Group which will include the leading groups in civil society concerned with corporate governance: NGOs, employee organizations, academics and stakeholder groups. The executive function of the Forum is carried out by a Secretariat, housed in the World Bank, which will develop and implement its agenda and work program. It is planned that one member of the secretariat will be stationed at the OECD.

Funding: Finance for the work of the GCGF will be drawn from a range of sources, including core funding from the World Bank, sponsorship from the OECD and organizations participating, bi-lateral donations and trust finance.

Global Corporate Governance Forum Activities

Helping countries improve the standards of governance for their corporations, by fostering the spirit of enterprise and accountability, promoting fairness, transparency and responsibility.

The GCGF is developing an extensive work program, based on dialogue, partnership and delivering practical strategies for implementation of reforms. The program is demand driven, to ensure it meets the needs of developing and transition economies. It includes:
· Policy dialogue: by convening governance conferences and roundtables at national and regional levels, the Forum provides a means to bring together the players from all sides to debate the issues, identify priorities for reform, develop an action plan, and spearhead initiatives. To date regional roundtables have been organized in Russia, and Asia; others are planned for Latin America and Africa, drawing in other partners.
· Technical assistance: by coordinating the provision of expert advice where needed, such as on legal, regulatory and best practice standards, through exchanges and secondment of professional and experienced individuals;
· Institution building: by establishing centers for corporate governance in partnership with public and private sector bodies, that will provide the vehicle for delivering services and coordinate locally;
· Information exchange: by gathering and disseminating relevant research, materials, and contacts and case studies via a new website and publication series. The first task of the Forum has been to compile a worldwide inventory of governance activity providing contacts, with details on both projects and professional services;
· Capacity building: through the development of training and education for the main players in governance, and provision of materials, case studies and curriculum design;
· Task forces: forming high level working groups on areas of specialist concern which require innovation in thinking and practice. Initially these include task forces on audit and accounting, an Investor Responsibility Taskforce, and a media group examining the vital monitoring role of the financial press and debate on global standards.

Compare also: OECD | Sarbanes-Oxley | World Trade Organization | IASB | FASB

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Global Corporate Governance Forum
c/o The World Bank Group
1818 H Street, NW - MSN I9-906
Washington, DC 20433, USA
E-mail: cgsecretariat@worldbank.org

Tel: 202-458-1857

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