In Vienna on 2-3 June 2014 IFC organized consultations with experts from regulators, stock exchanges, director training organizations from around the world in learning how to develop and implement corporate governance scorecards. Corporate governance scorecards emerged in Germany in the late 1990s as government owned companies were privatized, blue-chip companies experienced serious failures, and young companies needed equity capital. In 2000, the scorecard came out as one of a number of solutions for investors and analysts who sought a tool to assess the quality of a company’s governance, which would guide them in making investment decisions. Since then, the tool has been used in many emerging market and developing countries, often with the support of IFC. Corporate governance scorecards as quantitative tools helps to measure the level of observance of a code and/or standard of corporate governance with a view to help: 1) regulators assess observance of codes and standards of best practices, 2) investors make informed decisions, 3) companies/banks analyze gaps and shortcomings of their corporate governance practices against national standards; and 4) business associations evaluate governance practices of their members and help improve governance among their membership. Among participants from around the world there were also  Mrs. Brunilda Paskali, deputy Minister of Economic Development Trade and Entrepreneurship and Mrs. Rezarta Cenaj Melo Executive Director of Corporate Governance  Institute Albania.  Actually, Albania has adopted  a Corporate Governance Code for non listed companies on December 2011 and there is developed a Scorecard on September 2013 based on this code. The role of participants in this meeting is to present the experience and difficulties that present the process of developing the scorecard, its endorsement to businesses and rising awareness to companies to comply with Corporate Governance Code, perform self-evaluation of their business through use of scorecard and starting so  improving their doing business referring to the best practices  increasing this way also the corporate responsibility of companies towards stakeholders, community , and society,  increasing economic and social environment to higher standards, making companies accountable, transparent, sustainable and attractive to investors. All stakeholders together, regulators and companies should put all their efforts to put into  practice the “comply or explain” rule regarding the implementation of Corporate Governance Code and the use  scoring by companies. Better companies means better society.

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