Position on the Draft Revisions to the G20/OECD Principles of Corporate Governance

The OECD has consulted a draft of its G20/OECD Principles of Corporate Governance. The final document is scheduled to be adopted by the OECD Corporate Governance Committee in March 2023, approved by the OECD Council of Ministers (MCM) in the second quarter of 2023, and by the G20 in the third quarter of 2023.

We have commented on the draft of the updated G20/OECD Principles of Corporate Governance. While we consider the new Chapter VI on "Sustainability and Resilience" to be balanced and agree that high-quality and global (baseline) standards are required for sustainability reporting, we express our incomprehension of the negative connotation towards corporate structures. Nor do we see any point in having D&O insurance policies for the Executive Board and Supervisory Board approved by the Annual General Meeting. We welcome the open attitude of the principles towards virtual general meetings.