Lessons Learned series CD

The Forum’s Lessons Learned series are now available on CDs. It includes our Lessons Learned publications dated from October, 2007 to December, 2009 including 12 articles on topics such as the Forum’s experiences of leveraging its private sector advisors to advance corporate governance globally and helping build local institutional capacity of Brazilian Institute of Corporate Governance. To request the CD copies, please email to cgsecretariat@ifc.org

Improving Banks' Corporate Governance Practices in Southeast Europe, February 2010

The financial crisis has severely affected the economic growth in Southeast Europe. Shortcomings in bank corporate governance can destabilize the financial system and create systemic risks to the economy. To promote a sustainable recovery for the region, the Forum, EBRD and IFC has worked together to help financial institutions, regulators adopt best practices for conducting business. The publication introduces how the Forum along with its partners have been working to analyze the region's countries to provide action plans and specific policy recommendations.

Thomson Reuters Foundation and Forum Train Journalists to Report on Corporate Governance Issues, December 2009

The Thomson Reuters Foundation and the Forum jointly developed and now run a unique program to help journalists strengthen their reporting about issues related to corporate governance. The article introduces the Forum's experiences of running the program globally and how it manages to maintain a journalists network that covers different regions across the world to keep helping them improve the abilities of reporting on corporate governance issues after the workshop.
Partnerships in India Leverage Strengths For Success, October 2009

Local business commitment and securities regulator's support can provide a strong foundation for India to move forward with corporate governance.The article introduces how the Global Corporate Governance Forum has been forging the partnerships in India for local institutions to leverage their resources to build capacity, broaden awareness, and achieve progress in gaining broad acceptance by businesses for corporate governance best practices.
How Bangladesh Is Making Progress: Corporate Governance Effort Is Central to Sustainable Development, August 2009

The article demonstrates how the Global Corporate Governance Forum facilitates Bangladesh Enterprise Institute (BEI) to achieve corporate governance development for economic growth and sustainability in the country by helping BEI standardize and localize training programs, leverage global expertise, and advocate its programs among different shareholders including regulators and private sector companies. The personal development story of BEI's Lopa Rahman also provides many practical lessons to other developing countries. For the Public Good: Pro Bono Work of Private Sector Advisors Advances Corporate Governance Initiatives, April 2009

To advance corporate governance in emerging market and developing countries, the Global Corporate Governance Forum mobilizes its unique and extensive network of business leaders, the Private Sector Advisory Group (PSAG). PSAG members have donated their time to countries by providing expertise, conducting a peer view, monitoring and evaluating performance. The value of PSAG members’ pro bono work exceeds an estimated one-million US dollars for fiscal 2009.


Sharing Experience on Developing Corporate Governance Codes, February 2009

To increase the number of experts who can help countries develop and improve their corporate governance codes, the Forum organized a knowledge management workshop on "Supporting the Development of Corporate Governance of Best Practice." This is the first of a series of such workshops the Forum will be organizing based on its toolkits and experience gained in the field worldwide.

The workshop provided Forum Toolkit guidance on helping organizations and individuals produce codes that would improve corporate governance practices at the country level, and various aspects on code development such as code drafting tips, monitoring and evaluation and lessons learned in South Africa and Egypt on codes development.

"We are all facing the same kind of problems," observed one participant. "Exchanging experiences helps to clarify ideas and concepts. From this process, solutions emerged", another participant said.

“Walking the talk”: How the Brazilian Institute of Corporate Governance Succeeds, December 2008

Lessons Learned December 2008 introduces the successful story of the Brazilian Institute of Corporate Governance (IBGC) and the important issues it has had to address to guarantee its own governance and credibility. This paper describes some of challenges in the development of the Institute. Understanding how the IBGC managed its problems should be helpful to other Directors’ Institutes in developing their organization structure and profile in determining their long term sustainability and financial success.

This publication is also available in Portuguese and Chinese.


Improving Market Enforcement, Preventing Fraud in South East Europe, October 2008

As capital markets in South East Europe (SEE) grow rapidly, supervisory authorities must be able to appropriately identify and then halt fraud, market manipulation, and insider trading. To address this challenge, the Global Corporate Governance Forum-with the Toronto Centre, IFC's Private Enterprise Partnership for SEE, and the World Bank's Sofia office-jointly organized the first regional workshop for strengthening the capacity of regulators to enforce regulations and prevent fraud.

Experts who attended the workshop covered the topics including Effective Preventions; Steps to Achieve Efficient Surveillance; Investigatory Powers and Techniques to Press market Manipulation Cases; The Response: Administrative vs. Criminal Proceedings; Action Planning: Identifying Enforcement Challenges, Defining Solutions; and International Cooperation Central to Cross-Border Transactions' Success.




Implementing Corporate Governance Codes in MENA, August 2008

The Global Corporate Governance Forum saw a tremendous opportunity in 2006 to be a catalyst in fostering national codes of corporate governance in MENA. These codes are essential tools for enhancing corporate governance practices at the national and corporate levels, seeing to reconcile international standards and local practices in a way that improves investment prospects. World Bank corporate governance country assessments (CG ROSC) recommend the development of such codes.

To help developing countries and transition economies with this task, the Forum produced a toolkit on crafting, developing, and implementing corporate governance codes.

To leverage existing resources and maximize the efficiency of delivering advisory work, the Forum with IFC's Private Enterprise Partnership for the Middle East and North Africa facility (PEP- MENA) pursued a region-wide strategy that would encourage the sharing of one another's experience, lessons learned, and private sector experts. The Forum's strategy stressed approaches that would foster ownership of the code development process within each country.


Corporate Governance Leadership Program: Assessment Stimulates Program Thrust, April 2008

To assist developing countries, the Forum devised Leadership programs for corporate governance trainers. Based on global best practices, these programs seek to enhance board directors' competencies and skill levels.
 
This has led to our next phase of work, with the production of the Corporate Governance Board Leadership Training Resources toolkit. From this enormous undertaking, more comprehensive materials, training presentations, case studies, teaching guides, and revised audio/visual CD-ROMs have been developed to fulfill the overwhelming demand for more regional and country-specific activities and curriculum.


Bulgaria Launches Corporate Governance Code, February 2008

On the brink of Bulgaria’s accession to the European Union, a task force comprised of private and public experts was set up to develop a national Corporate Governance Code.

The Forum had previously published a Toolkit (Corporate Governance Reform Toolkit), which provides extensive practical experiences from developed and developing countries on how to develop and implement corporate governance codes.

“Building on the global expertise we complied in this toolkit, we provided the Bulgarian team with best practices and technical advice,” said Maria-Laurence guy, a senior projects officer with the Forum.

Best practice codes are much more flexible than laws and should be reviewed and updated regularly to address issues unforeseen during the drafting process and to remain relevant. Bulgaria’s financial Supervision Commission (FSC) has, therefore, asked that the task force remain as a Standing Corporate Governance Commission to monitor progress and update the cold’s content in 18 months so that it reflects changes in corporate practice and legislation. Panama’s Experience Shows Importance in Defining Objectives, Attracting Committed Supporters, Exerting Leadership, December 2007

In April 2007, 15 business leaders formed the Institute of Corporate Governance-Panama due to the Forum’s counsel and support. After many deliberations, the Institute defined its mission and objectives.

“This process helped us to formalize how the Institute’s leadership would work together and make decisions. Having beneficial goals we all understood was an important foundation in establishing a process through which we could work together to reach a consensus and resolve conflicts” said Milton Chambonett, an Institute founding director and founder of Chambonett & Asociados, an accounting firm.

The founders have been using the Forum’s toolkit to help share the process of the making key decisions in the Institute’s first year. “As we go through the steps, we find the toolkit’s ‘tips’ to be invaluable,” said Julieta Rodriguez Molina, the Institute’s founding secretary and an associate attorney at Galindo, Arias and Lopez.
Launching an Institute of Directors in Mozambique:
Business Leaders Drive effort to Advance Good Governance, October 2007

Mozambique needs to attract investors to realize the opportunities emerging in the global economy. That need for capital drove the country’s business leaders to seek improve their boards. To achieve this goal, Benjamim Pequenino, CEO, Governance Development Institute of Mozambique (GDI) and Mondlane drove the establishment of a founders committee, , composed of prominent leaders in the country’s private sector. Their initial support underscored the importance and necessity of improving corporate governance policies and practices.

As the committee broadened and strengthened support for corporate governance within the business community and government, its members developed and executed a business plan, with assistance from local management consultants, the IFC Private Enterprise Partnership for Africa, and the Global Corporate Governance Forum.

“The Forum toolkit for IoDs was our roadmap, laying out the steps we needed to follow for our institute’s launch and ongoing administration,” said Pequenino. “Having the support and counsel of the IFC enabled us to learn from the experiences of others-----the mistakes and the successes.”

As a result, the institutes’s first workshop in June 2007 drew more than 250 members of the business community, introducing them to corporate governance and the supporting evidence. The workshop’s curriculum involved the IFC and the Forum.