Over the next two days, you will be focusing on a wide range of issues, from sustainable finance, efficient capital allocation, the quality of shareholder engagement, and long-term thinking in the investment chain. All these issues lie at the heart of the OECD’s efforts to create fairer, more sustainable and more inclusive economies.
The OECD projects global growth to increase to around 3.5% in 2017 and 3.7% in 2018, up from 3% in 2016. In the Euro area, GDP growth has outpaced expectations in the first half of 2017 and the unemployment rate fell to 9.1%, the lowest since 2009.
I am delighted to open the 5th edition of the Global Forum on Responsible Business Conduct, and to welcome so many leaders and experts from all over the world, from the public and private sectors, international organisations and civil society.
Welcome to the 5th edition of the OECD Global Anti-Corruption and Integrity Forum. Let me begin by thanking the Prime Minister of Slovakia, Mr. Robert Fico, and the Vice President of Nigeria, Professor Yemi Osinbajo, for joining us for this opening.
Welcome to the 4th Global Forum on Responsible Business Conduct. This year we are celebrating the 40th anniversary of the OECD Guidelines for Multinational Enterprises, the OECD’s main instrument for promoting better business practices. This is a good moment to reflect on the potential multilateralism. In the past year the global community has reached a breakthrough climate agreement at COP21 and established an ambitious set of SDGs.
I am delighted to welcome you for a performance of Note Etiche. Thank you Ambassador Checchia for this original initiative. It will be wonderful to hear live music and policy debate intertwine! Especially around such a key, topical issue as business integrity and ethics in the financial sector. We could not ask for a better, more pleasant prelude for tomorrow’s Global Forum on Responsible Business Conduct.
I am pleased to join you today at the Forum of Arab Regulators on Corporate Governance. The OECD is deeply engaged in strengthening global economic governance by supporting the G7 and the G20, but also through regional initiatives with countries that do not participate in those fora.
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Milan, Italy - 4 December 2015: Last month in Antalya, G20 Leaders endorsed the new G20/OECD Principles of Corporate Governance. This speech by OECD Deputy Secretary-General Rintaro Tamaki presents the objectives and the scope of corporate governance and an overview of the revised Principles.
To tackle these challenges and mitigate their effects, the OECD is working in a wide spectrum of policy areas: anti-bribery, public procurement, lobbying or money laundering. Strengthening the role of internal controls and audit functions is one of our key tools to help combat corruption and fraud.
With the world economy stuck in a low growth equilibrium, this is an opportune time to push responsibility to the forefront of our economies, to help put us on the path to stronger, greener and more inclusive growth.