Asian Centre for Corporate Governance & Sustainability was established on March 14, 2001 as a ‘Not for Profit’ independent institution. Asian Centre has been set up with a vision to become a ‘Think Tank’ and a ‘Catalytic Institution’ to bring about qualitative improvements in the Corporate Governance & Corporate Sustainability practices of Asian Companies, optimizing the value for shareholders & stake holders in a balanced manner. Playing a strong advocacy role, Asian Centre encourages companies to generate wealth in a socially responsible manner by protecting the environment and ensuring sustainable development of communities & societies.
The founders, notably the members of Global Advisory Board of Asian Centre, chaired by Mr. Mervyn King, believe that there is a strong correlation between Corporate Governance & Public Governance. These are like two faces of the same coin and are so inextricably intertwined that, it is difficult to think of improving one, without the other. Value based conduct is as important for Public leaders as for Corporate leaders.
The Global Advisory Board also believes that Corporate Sustainability is crucial to the Sustainable Society and Cleaner Cities. Thus, Asian Centre attempts to work with Corporate leaders on one hand and government officials on the other, to contribute towards ‘Better Governance’, ‘Sustainable Societies’ and ‘Cleaner Cities’.
Mission & Objectives of Asian Centre for Corporate Governance & Sustainability™
Mission of Asian Centre for Corporate Governance & Sustainability (ACCGs) is two fold i.e.“To promote Global Corporate Governance principles of Transparency, Accountability & Equanimity. And to promote ESG model of Corporate Sustainability by encouraging companies to generate wealth in a socially responsible manner by protecting the environment and ensuring sustainable development of communities & societies.”
Asian Centre constantly strives to achieve this by working closely with multiple stakeholders like ;
Asian Centre, as a think tank, provides a neutral platform for exchange of ideas and healthy debate for multiple stakeholders in Governance & Sustainability space.
Asian Centre show cases regional as well as International ‘Best Practices’ to work towards Better Governed Companies……Sustainable Societies…. and Cleaner Cities.
Asia – the growth engine for the world Economy :Asia is the largest continent of the world, with 30 % of land area of the world and highest population of human beings in the world. International institutions like World Bank, OECD, UN, IMF and many others, predict and agree that Asia will be the growth engine for the world economy. Asia is the continent with two major countries, China & India both economies registering highest growth rates in the world, upward of 10 % and 7 % respectively. WTO predicts that World trade will boom @ 8%, World Bank estimates that world export which was $ 4 trillion in few years ago is expected to grow several fold in next 10 years and 50% of this will be from emerging countries. Asia again will lead the trend. The Economist magazine in it’s special publication, reports that first time in 400 years, all of Asia will be managed by Asians. World economy will grow @ 4.2 %, American economy will grow @ 2%. Europe will expand faster than US (first time in 9 years.) Asia will grow @ 6.7 %.
As per official projections for next 25 Years by OECD, it’s member Countries will grow @ 3% annually, while developing countries particularly Asia will grow @ 6.7% annually. It further projects that developing countries share of world trade will increase from 1/6th to 1/3rd i.e. from 17% to 33% (nearly double), Asia will provide growth engine to World Trade. 2.3 Billion people of India & China will organize their societies so as to double their prosperity every 10 years. China has been accessed by WTO therefore is likely to become more transparent in it’s trade practices.
At the corporate level, the race to get bigger, quicker will push firms in all industries towards Mergers & Acquisitions. This will create larger companies in Asia. Investment Bankers and Regulators will face a greater Challenge. This means Corporate Governance will assume greater importance Asia. Asian Countries are pursuing their own efforts at the country level, in the area of Corporate Governance. However, considering similarities in the cultures of oriental countries, there was an opportunity to foster active networking amongst Asian Countries. Thus, Mahendra & Young Knowledge Foundation, which is a non profit Public Charitable Trust, has promoted Asian Centre For Corporate Governance & Sustainability (ACCGs).