Corporate Governance Index 2022 report – A Pathway to Sustainability for Corporations in Albania

Posted in News
01/12/2022 WoI Team

The pilot study, commissioned by ICC Albania, as part the MATRA Programme in the framework of the Project “Collective Actions to Promote Integrity”, highlights the current practices employed by 50 companies operating in Albania in the social and governance dimensions.

The International Chamber of Commerce in Albania (ICC Albania) brings to the Albanian audience the first edition of the Corporate Governance Index 2022 report – A Pathway to Sustainability for Corporations in Albania, as part of its work on sustainable development and integrity.  It this first efforts, the report aims to provide an overview of the current social and governance and business integrity principles, standards and practices employed by large, small and medium companies in the country, as constituting elements of sustainability business reporting. As part of the Index, an online survey and interviews were conducted, soliciting input from 50 large companies in the country. The findings of the report reflect the state-of-affairs, as reported by the participants, in the terms of corporate governance.

Overall results of this first edition of the Corporate Governance Index show that Banking, Insurance and Telecommunications are the leading industries in the way in applying international corporate governance standards compared to the other industries.

The Index study was conducted as part of the CAPI project, supported by the Embassy of the Kingdom of the Netherlands. Under the ICC Albania umbrella, the ICG Research consultants were commissioned to develop the Index methodology and conduct the study, while the Albanian E-Commerce Association joined in the efforts to collect data from their companies. The ICC Albania takes this opportunity to thank all the collaborators of this project and especially the business representatives, who have contributed greatly to the success of the project.

“Inspired by the work the ICC does globally to promote international trade, responsible business conduct and a global approach to regulations, the ICC Albania and its Board aim to generate Index reports regularly in the future as well, not only to help shed light on the corporate integrity standards locally, but also help the various actors in their effort to embrace sustainability principles into their business model.” said Bilgen Aldan, Chair of the Board.

The ICC proposes this Index as an instrument to be used, among others by businesses as a roadmap to advance their organizational culture of integrity and ethics; policy and decision-makers to gain a deeper understanding from trusted assessment of the institutional integrity environment and be guided to draft adequate policies and make proper decisions that benefit the public good; international financial institutions and foreign investors to gain a wider understanding of the country’s business environment, as well as donors to support their ongoing collaborations and promote the Index in support of their private sector-related interventions for Albania.

Download a copy of the report in ENGLISH

Download a copy of the report in ALBANIAN