Timeline of Global Standard

8 January 2009 – High level meeting in Paris organised by French President N. Sarkozy and UK Former Prime Minister T. Blair around the issue of New World, New Capitalism. In the context of an aggravating economic crisis, policymakers and prominent worldwide experts gathered together to define a new model of capitalism and to review the values that will help countries better adapt to globalisation in the future. For the first time, Minister Tremonti raised the issue of the importance of having a set of common principles.

15 January 2009 - In a Financial Times interview, Italy’s Finance Minister Giulio Tremonti called for a Global Standard for business conduct, unveiling initial proposals in this regard to be presented to G7 Ministers. Minister Tremonti suggested that OECD instruments could play an important role in the development of a Global Standard. Among others, these instruments would include an anti-bribery convention, principles on corporate governance, guidelines on multinational enterprises, standards on transparency and co-operation on tax and principles on disclosure of financial information.  
>> Financial Times article

5 February 2009 – Federal Chancellor Angela Merkel hosted a meeting in Berlin with the heads of the International Labour Organization, the International Monetary Fund, the Organisation for Economic Co‐operation and Development, the World Bank and the World Trade Organization. Inter alia, the five international organisations discussed the call by the German Chancellery for the development of a “Global Charter” to ensure a more sustainable global economy. The Global Charter and the Global Standard are mutually reinforcing initiatives.
>> Joint press release
>> Speech by the OECD Secretary-General

14 February 2009 – G7 Finance Ministers who gathered in Rome asked their Deputies to prepare, in consultation with other partners, a progress report in four months on developing an agreed set of common principles and standards on propriety, integrity and transparency of international economic and financial activity.
>> Final Communiqué
>> Speech by the OECD Secretary-General

19 March 2009 – In response to a call at the Berlin Meeting the five international organizations engaged in a joint stock-taking exercise coordinated by the OECD to produce an inventory of already existing policy instruments. The outcome of this exercise is the Inventory of existing Economic and Social Instruments. The Inventory is a necessary preliminary step in the process leading to the “Global Charter” as well as the Global Standard.
>> Inventory of possible policy instruments
>> Review of monitoring tools

2 April 2009 - At the London Summit, leaders of the G20 agreed on the need for a new global consensus on the key values and principles that will promote sustainable economic activity. In their communiqué, they supported discussion on a charter for sustainable economic activity and took note of the work started in other fora in this regard. Following the G20 Summit, the OECD provided a detailed report on progress by financial centres around the world towards implementation of an internationally agreed standard on exchange of information for tax purposes.
>> G20 Declaration On Strengthening The Financial System 
>> G20 Report - Working Group on Reinforcing International Cooperation and Promoting Integrity in Financial Markets

11-12 May 2009 – The “Global Standard for the 21st Century” meeting in Villa Madama, Rome, hosted by the Italian Ministry of Economy and Finance, was a first step towards broadening the discussions on the framework and principles underlying the Global Standard.
>> Speech by the OECD Secretary-General

13 June 2009 – The G8 Finance Ministers met in Lecce, Italy, where they endorsed the Global Standard or Lecce Framework, which builds on the work of the IMF, World Bank, OECD, FSB, FATF, and other international organisations, to strengthen the global market system.
>> Statement of G8 Finance Ministers
>> Statement by Secretary Geithner
>> Press release

23 June 2009 – At a meeting in Berlin, Ministers and senior officials of a number of countries came together to monitor the progress that has been made with respect to the implementation of the OECD standards on transparency and exchange of information in tax matters. Participants urged OECD and non-OECD countries to work together in a reformed and expanded Global Forum, intended to set up a multilateral, impartial and transparent monitoring and peer review process that ensures effective implementation of the standards on a global basis.

>> Final Communiqué
>> Speech by the OECD Secretary-General

25 June 2009 - The 2009 Meeting of the OECD Council at Ministerial Level agreed on the need to develop a set of common standards and processes regarding the conduct of international business and finance, welcoming the work of the OECD in relation to the Lecce Framework and a Global Charter for sustainable economic activity.
>> Conclusions of the meeting

26 June 2009 - Ample support from social partners to the idea of the Global Standard during the consultation meeting with BIAC and TUAC organised in Rome by the Italian G8 Presidency. Read the speech delivered by the OECD Secretary-general.

8-10 July 2009 - The Leaders of the Group of Eight meeting in L’Aquila “agreed on the objectives of a strategy to create a comprehensive framework, “The Lecce framework”, building on existing initiatives, to identify and fill regulatory gaps and foster the broad international consensus needed for rapid implementation...To ensure the effectiveness of the Lecce Framework, we will make every effort to pursue maximum country participation and swift and resolute implementation. We are committed to working with our international partners to make progress, with a view to reaching out to broader fora, including the G-20 and beyond.”