DISCUSSION The case for the board mandate

The starting point for the Good Governance Forum agenda is for boards to establish their own ‘board mandate’ – a living statement about what the company stands for and how it wishes to be known to all of its stakeholders. This should capture the ‘essence’ of the ‘character’ and distinctiveness of the company, in terms of: its essential purpose; its aspirations; the values by which it intends to operate; its attitude to integrity, risk, safety and the environment; its culture; its value proposition to investors; and plans for development. We believe that this ‘working charter’ is an important innovation that can help boards navigate their way through the increasingly choppy waters of the ever more complex and challenging business environment that companies are operating in.