The Ethos Foundation is the 2009 recipient of the International Corporate Governance Network (ICGN) Award. The award is considered the highest distinction in the field of corporate governance and is given annually for exceptional achievement in that connection. For the Awards Committee, Ethos has helped bring about significant improvements in corporate governance and has had a major positive impact in its region.
The Ethos Foundation's representatives, Kaspar Müller, Chairman, and Dominique Biedermann, Executive Director, received the Award in Sydney at a ceremony organized during the ICGN annual conference, which took place from 13 to 15 July and was attended by over 400 delegates from around the world. Kaspar Müller stated: “The Foundation has won this Award thanks to unwavering support from the pension funds that are its members, the commitment of its Board of Trustees and the tireless efforts of its staff.”
This distinction confirms that the vision initially set out in the Ethos Charter has proven to be absolutely right. Socially responsible investment requires management based on sustainable development and good governance criteria, the systematic exercise of the shareholders' voting rights and engagement in constructive dialogue with companies.
Over the years, Ethos has increasingly focused on the dialogue between shareholders and company management. The results achieved by the Ethos Engagement Pool, the programme of dialogue with Swiss firms that today encompasses 29 pension funds, are a good illustration. In his acceptance speech, Dominique Biedermann underscored: “I am personally convinced of the virtues of dialogue and of shareowner engagement. Ethos has often achieved much more from engagement than from public confrontation.”
ICGN Award
The Award was established in 2001. It has since been bestowed on individuals and institutions that have demonstrated exceptional achievement in the field of corporate governance and contributed to significant improvements in one or more jurisdictions. The Awards Committee considers a range of criteria in making its recommendations to the ICGN Board. This includes whether the nominee:
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Is recognized to have a material period of achievement in corporate governance;
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Has markedly improved the state of corporate governance in one or more jurisdictions;
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Has produced, or has the potential to produce, an important, positive impact on one or more economies;
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Has overcome difficult and challenging obstacles, requiring courage, vision and fortitude; and
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Could benefit from recognition by the ICGN in furthering corporate governance achievement.
International Corporate Governance Network (ICGN)
The International Corporate Governance Network (ICGN) is a global, not-for-profit organization of about 500 leaders in corporate governance based in 40 countries. Its members are essentially institutional investors who collectively represent funds under management of around USD 9 trillion.
The idea of setting up the ICGN was initially discussed at a meeting of the Council of Institutional Investors in 1994. The ICGN was formally founded on 29 March 1995 in Washington DC.
The ICGN's mission is to further the exchange of information and to raise standards of corporate governance worldwide. Its Global Corporate Governance Principles serve as a benchmark for investors and companies.
