Corporate Political Activities Missing in the G20/OECD Principles of Corporate Governance

The Good Lobby has submitted a response to the Public Consultation on the Review of the G20/OECD Principles of Corporate Governance. Despite improvements on a number of  sustainability matters, the draft revision fails to address the issue of Corporate Political Activities and its implications for responsible corporate governance.

 

The Good Lobby Founder Alberto Alemanno said; ‘The lack of scrutiny and transparency in corporate governance over CPAs significantly hampers the sustainable transition of companies, offering a fertile ground for short-sighted corporate behaviour at the expense of the public interest. For the Principles to remain the international standard of corporate governance, this review should do justice to the realities of corporate political influence.’

 

In particular, The Good Lobby calls for:

• A corporate governance framework ensuring that corporate political activities are carried out in a lawful, ethical, responsible, transparent and accountable manner, promoting private interests within social and planetary boundaries.

• Timely and accurate disclosure on all corporate political activities.

• Board supervision on lobbying and political activities, guaranteeing that these are coherent with the company’s purpose, stated policies, strategies, goals and any other public positions – including their sustainability-related commitments -, as well as with international human rights frameworks and international environmental conventions.

 

For more information, please contact Davide Muraro at [email protected].

Read the full submission here.