Oxfam Submission to Green Paper on Corporate Governance Reform
Employing over 80% of the UK workforce and almost 5 million people overseas, the decisions made by UK companies on wages, supplier prices, stakeholder voice and resource stewardship can make a real difference to levels of inequality and poverty globally. For this reason, corporate governance and ownership frameworks are an ongoing area of focus for Oxfam.
Reforming the corporate governance framework has the potential to create not only a fairer and more stable society but also reward those who invest for the long term. The undue primacy given to shareholders in many ways undermines these objectives, which Oxfam argues should be the focus of reforms.
Oxfam welcomes this review on corporate governance and the opportunity to be consulted.