GIGS Mission Statement
The Global Initiative for Governance and Suitability (GIGS-Initiative) supports research, education, and thought leadership on four aspects of corporate governance and sustainability for both for-profit and not-for-profit organizations: governance structures, sustainability, risk management, and ethics.
GIGS-Initiative aims to inform practitioners, standards setters, and national and international policy makers, and academics on the type of governance mechanisms required to curb value destruction and corruption, reduce inequality, and promote equity, diversity, and inclusion.
GIGS Scope of Influence
Governance
Governance frameworks encompass both internal and external structures. Internally, governance pertains to the delineation of responsibilities and the assessment of accountability. Externally, governance involves the organization’s interactions with its diverse stakeholders, including investors, creditors, regulatory bodies, and the broader society, as well as the level of transparency maintained with these groups. On a global scale, various elements intrinsic to the business environment influence the efficacy of both internal and external governance mechanisms. Key factors include:
- The efficiency of local capital markets
- The extent of legal protections for all shareholders
- The reliability of accounting practices
- The enforcement of regulatory measures
- Societal and cultural norms
Sustainability
In terms of Sustainability, numerous challenges impede the widespread implementation of sustainability reporting, including competing frameworks, a lack of standardized measures, uncertainties in measurement, varying definitions of materiality, inconsistent reporting and auditing practices, generic language, and issues of comparability. These challenges are interconnected. The GIGS-Initiative seeks to educate stakeholders and actively contribute to the evolution of ESG practices and reporting. Our task forces will collaboratively tackle these critical sustainability challenges that affect all stakeholders.
Risk Management
Corporate governance risk management encompasses both prescriptive and descriptive analyses of behavior. This involves applying ethical theories to specific actions taken by individuals and organizations, whether within the organization or in relation to its external environment.
Ethical Perspective
The ethical dimension of corporate governance also includes both prescriptive and descriptive analyses of behavior, focusing on the application of ethical theories to individual and organizational actions, both internally and externally.
The GIGS-Initiative adopts an interdisciplinary approach, integrating various academic perspectives, research methodologies, and analytical levels. It fosters effective knowledge dissemination, learning, and collaboration with business leaders, regulators, policymakers, and its global network of distinguished experts, academics, and students.