Thaindian News

By Gurmukh Singh
Toronto, Feb 26 (IANS) The role of BRIC (Brazil, Russia, India and China) economies in the new global order tops the agenda of this year’s global summit on corporate governance being held here in June.

The three-day summit will be held from June 7, the organizer International Corporate Governance Network (ICGN) said here Thursday.

With over 450 leaders in corporate governance in 45 countries as its members, the ICGN aims to raise standards of corporate governance worldwide. Most of its members are institutional investors with management of funds to the tune of $9.5 trillion under them.

Under ‘The Changing Global Balances,’ the summit will debate the importance of good corporate governance after the global meltdown triggered by corporate greed.

It will also focus on the role of India, China, Russia and Brazil in promoting good corporate in the emerging world economic order.

“This year’s summit will bring together the world’s top thought leaders on corporate governance issues to look at new trends we’re seeing in the global capital markets - including the emergence of the BRIC countries - and its impacts on fostering good corporate governance from a global perspective,” said David Beatty, co-chair of the conference.

“We are looking beyond the traditional corporate governance lens of a public company and focusing on the evolution of capital markets and the questions it raises for corporate governance,” said Beatty who is also founding managing partner of the Canadian Coalition for Good Governance.

“As we have seen from the recent global financial crisis, which sparked volatility across the industry, restoring equilibrium in capital markets and good corporate governance are integral to stability and growth in the financial markets,” he said.

Added Christianna Wood, chairman of the ICGN, “Regulatory evolution alone is not enough to ensure global capital market stability. Thoughtful discussion on this topic is urgently needed with all parties at the table - including rising powers from China and India as well as influential players asuch as Sovereign Wealth Funds or hedge funds.”

Over 60 speakers from 30 leading markets will speak on subjects ranging from the influence of BRIC economies and its impact on Western style governance, the evolution of capital markets and threats to good corporate governance, a new model for shareholder stewardship and the efficiency of regulatory solutions to market-led problems.

The summit will also have a joint session with the World Economic Forum on the new global economic balance.