The Commission has adopted a Green Paper on corporate governance in Europe and has launched, this summer, a public consultation on: “how to improve existing corporate governance mechanisms”. Having the crisis in mind, the ambition is to make a link between corporate governance (CG) and corporate social responsibility as key elements in building people's trust in the single market and contributing to the competitiveness of European business. How can this consultation avoid being merely a box-ticking exercise or taking a merely short-term approach? There are three essential topics to examine: – The better use of the ‘comply-or-explain’ principle which is a feature of the EU approach to corporate governance; – The enhancing of shareholder engagement; – The promotion of a less short term approach, including diversity on boards to mix approaches and an ethic of independence.
DE BEAUFORT, V. (2011). Green Paper on Corporate Governance in Europe and New Orientations of the Commission: Towards a Wider View of the CG? In: Corporate Governance & Sustainability Challenges. IOD Publishing, pp. 273-279.