For centuries, the purpose of a company was defined as generating value to its shareholders, but such a limited, short-term view isn’t enough anymore. Shareholders and Boards should redefine the purpose of the company. Let’s learn from the best examples in France.
12.00 to 15.00
AttendanceRegistration mandatory, free of charge
While Estonia, Latvia and Lithuania are now all members of the Organization for Economic Co-operation and Development (OECD), it would be a mistake to think of this achievement as a finish line in advancing good corporate governance practices. First and foremost, it provides us with more access to knowledge and tools used by other countries and businesses in moving beyond the basic standards and thresholds to be more competitive and to create sustainable, long-term success with a long-term vision and careful effort. What can the Baltic countries learn from the best practices of other OECD countries?
Redefining company purpose
Best stakeholder relationship and engagement practices
Companies are not acting in an isolated environment; they are a part of society. Each company is affecting a wide variety of stakeholders and stakeholders are affecting the operations and long-term prospects of the company. That is why all Boards should lead their companies in actively engaging in stakeholder relationships. We will hear about the best practices in the Netherlands.
Advanced sustainable value creation – the Belgian example
The new Belgian Code inspires by emphasizing the importance of independent decision-making in the interest of the company and the importance for all Board members to demonstrate independence of mind.
Environmental, social and governance (ESG) challenges and opportunities
ESG related questions are increasingly becoming a vital factor in long-term success of all companies. Those companies that are putting it on their agendas today are the most forward-looking. Finland has a long track record in incorporating ESG elements into everyday business and the Board’s role there is crucial.
Moderated by Rytis Ambrazevičius, President, Baltic Institute of Corporate Governance