ISO STANDARD 37000 – THE FIRST INTERNATIONAL STANDARD ON GOOD ORGANISATIONAL GOVERNANCE PUBLISHED

On 14 September, an article from Lalive says that the first international standard on good organizational governance, ISO 37000, was published on 14 September by the International Organization for Standardization (ISO).  It says that this important standard sets out 11 core principles of good governance and the role of senior business and public management leaders around the world in defining and upholding standards relating to purpose, values, performance and social responsibility.  The article explains state-of-the-art governance, the “G” of “ESG”.  ISO 37000 guidance explains what good governance looks like across 11 mission critical topics –

  1. Purpose: reason for existence from all perspectives 
  2. Value Model: the elements comprising value creation and value generation required to fulfil purpose
  3. Strategy: directing and engaging strategies in accordance with the value generation model 
  4. Oversight: overseeing organisational performance and ensuring that the organisation fulfils all expectations
  5. Accountability: holding to account those to whom the governing body has delighted authority(s)
  6. Stakeholder engagement: engaging with stakeholders and meeting expectations 
  7. Leadership: ethical and effective leadership arrangements
  8. Data and decisions: data as a resource for decision making
  9. Risk Governance: the effect of uncertainty on organisational purpose and strategic outcomes
  10. Social responsibility: transparent decision making aligned with broader societal expectations 
  11. Viability and performance over time: remaining viable over time without compromising current and future generations 

https://s3.amazonaws.com/documents.lexology.com/00f2990a-f9e2-4462-8abb-f2ffe1f2f3f1.pdf?AWSAccessKeyId=AKIAVYILUYJ754JTDY6T&Expires=1631706987&Signature=zadAiU1PxAeMvJ0EdTLIvcfMnBU%3D

https://committee.iso.org/ISO_37000_Governance

A presentation on ISO 37000 is at –

https://www.lalive.law/wp-content/uploads/2021/09/20210914_ISO-Governance-Standard-37000_Intro-LALIVE-003.pdf

 

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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