国有企业与可持续发展引领

Leading byExample State‑Owned Enterprisesand Sustainability LEADING BY EXAMPLE This work is published under the responsibility of the Secretary-General of the OECD. The opinions expressed andarguments employed herein do not necessarily reflect the official views of the Member countries of the OECD. This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty overany territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use ofsuch data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements inthe West Bank under the terms of international law. Photo credits:Cover © Ton Photograph/Getty Images. Corrigenda to OECD publications may be found at: https://www.oecd.org/en/publications/support/corrigenda.html.© OECD 2025 Attribution 4.0 International (CC BY 4.0) This work is made available under the Creative Commons Attribution 4.0 International licence. By using this work, you accept to be bound by the terms of this licence(https://creativecommons.org/licenses/by/4.0/).Attribution– you must cite the work.Translations– you must cite the original work, identify changes to the original and add the following text:In the event of any discrepancy between the original work and thetranslation, only the text of the original work should be considered valid.Adaptations– you must cite the original work and add the following text:This is an adaptation of an original work by the OECD. The opinions expressed and arguments employed inthis adaptation should not be reported as representing the official views of the OECD or of its Member countries.Third-party material– the licence does not apply to third-party material in the work. If using such material, you are responsible for obtaining permission from the third party and forany claims of infringement.You must not use the OECD logo, visual identity or cover image without express permission or suggest the OECD endorses your use of the work.Any dispute arising under this licence shall be settled by arbitration in accordance with the Permanent Court of Arbitration (PCA) Arbitration Rules 2012. The seat of arbitration shallbe Paris (France). The number of arbitrators shall be one. Foreword In response toevolutions in thecorporate governanceof state-owned enterprises (SOEs),the OECDrevised theOECD Guidelines on Corporate Governance of State-Owned Enterprises(SOE Guidelines)in2024.The revised Guidelines include a new Chapter VII on sustainability which recognises thatgovernmentsas owners and SOEs themselves should lead by example and manage risks andopportunities in a way that contributes tosustainability, resilience and long-term value creation. For this tohappen, policies and practices must be coherent with and enablenationalandinternationalsustainabilitycommitments. Drawingon a collection of international experiences,this report provides practical guidance onimplementing Chapter VIIon sustainability of the SOE Guidelines.It builds on information providedvoluntarily byOECD member and partner countries, as well as selected SOEs, andiscomplemented bydeskresearch.The report primarily addresses the state as owner and SOEs engaged in economicactivities where the state is a full or majority owner,butit offersinsights relevanttoall types of SOEs. Following an overview of the evolving sustainability landscape of SOEs in Chapter 1, the report isstructured around the four main pillarsofthe SOE Guidelines’ Chapter VII: •Chapters 2 and 3 examine the role and responsibilities of the state as an owner and of SOE boardsin integrating sustainability into their governance and decisionmaking frameworks.•Chapter 4 explores sustainability-related reporting and disclosure.•Chapter 5 highlights key aspects related to responsible business conduct (RBC), with a focus onstakeholder engagement and integrity, which are relevant across all aspects of SOE governance. The reportofferscase studiesand “practical insights” aimed at supportingimplementation byboth stateownership entities and, where relevant,SOE boards. This report was developed by the Capital Markets and Financial Institutions Division of the OECDDirectorate for Financial and Enterprise Affairs. It was preparedby Arijete Idrizi, Karoline Irmscher andAlison McMeekin, with inputs from Nina Chitaia, under the supervision of Sara Sultan, Head of the State-Owned Enterprise Unit, and Serdar Çelik, Head of Division. Inputs were provided by the Division’sSustainableFinance Team,and by the OECD’s Centre for Responsible Business Conduct andEnvironment Directorate. Delegates of the OECD Working Party on State Ownership and Privatisation Practices provided valuableinformation and insights on their practices. Table ofcontents 3 Foreword Abbreviations and acron