Chris Pierce was invited by the International Finance Corporation (IFC) to participate in the Global Practice Group Meeting on Corporate Governance Codes and Standards at the World Bank Office in Vienna on 19-20 May 2015.
The meeting was designed to assist the IFC in leading the debate on key developments in corporate governance standards and benchmarks of best practice. The objectives of the Practice Group meeting were to obtain a better understanding, take stock of and receive an update of the recent developments in corporate governance standards, codes and best practices to:
1. ensure implementation of good corporate governance practices in companies in emerging markets,
2. identify areas of improvement of corporate governance assessment tools and revise them accordingly, and
3. assess how IFC knowledge tools have been used and identify potential new areas in which the Practice Group can work.
Participants comprised international organizations and development financial institutions (OECD, EU, Basel Committee, IFC, and other financial institutions), institutes of directors and corporate governance associations, stock exchanges and regulators, and subject matter experts in the field.
Chris spoke and led a discussion on the “comply or explain” evolution and talked about the new Corporate Governance Code in Mauritius.