GIC views the implementation of Corporate Governance practices as integral to its operations. GIC is committed to the principles of international best practices of governance and at all times strives to comply with such practices. The Corporate Governance framework at GIC is based on an effective independent Board and the constitution of Board Committees to oversee critical governance areas of the company.
The Board of Directors is committed to the ongoing implementation of initiatives to improve Corporate Governance for the benefit of all stakeholders. All of GIC's operations are subject to an effective governance framework. This provides direction for subsidiaries, which structure their respective governance frameworks according to Group standards.
Furthermore, this framework enables our Directors to balance their responsibility of providing oversight with their role as providers of strategic counsel, thereby achieving a proper balance between conformance and performance. In creating the governance framework, the Board is committed to applying accepted governance principles in a practical way.
GIC's values form the framework against which we measure behavior, practices and activities to assess the characteristics of good governance. GIC's values require Directors and employees to conduct themselves with integrity at all times and displaying moral strength and behavior that promote trust.
Good Corporate Governance is contained in our values, culture, processes, functions and organizational structure. Our culture is based on a written Code of Ethics, whereas the organizational structures are designed to formalize the oversight of all businesses and processes. We continue to refine these structures on an ongoing basis.