Response to the Corporate Governance Green PaperMonday, February 20th, 2017
CORE welcomes the publication of the Green Paper and the opportunity to respond. This response covers sections 2-4 of the paper.
In the decade since the overhaul of company law, it has become apparent that the current framework of enlightened shareholder value, combined with a voluntary Corporate Governance Code and an emphasis on ‘culture’ has failed to address egregious corporate malpractice and to provide collective and individual accountability for management failures. New corporate scandals continue to come to light almost daily and public trust in business remains historically low.
Only genuine reform, not minor adjustments and more voluntary schemes can address these issues.