BICG stands for the Baltic Institute of Corporate Governance. It was started in 2009 and is a regional NGO, working to promote corporate governance. BICG is an internationally recognized driver of best practice corporate governance development in the Baltic region.
Corporate Governance is a set of processes, customs, policies and laws describing the way a company is governed. Corporate Governance framework in a company regulates the relations between shareholders, board of directors, management and stakeholders.
Good Corporate Governance ensures that companies are run as efficiently as possible in the interests of their shareholders and taking into consideration interests of stakeholders. It promotes competent oversight, transparency and accountability in private, listed and state-owned businesses. This, in turn, promotes greater confidence in the companies on the capital markets and creates better conditions for the supply of risk capital. Good corporate governance practices lead to better companies and, in turn, better societies.
To bridge the gap between current and best practices. Because it is a valuable and needed part of Baltic development.
The Institute is a non-profit NGO, controlled by its corporate and individual members, through the Annual General Meeting.
The Institute is open with its finances and on our website you will find full annual reports with detailed financial disclosure. Our financial statements are audited by KPMG annually. The Institute is funded by membership fees and by revenues generated by its educational activities.
Development and execution of educational programs, conferences, business delegations, as well as development of regional and local governance policy and research programs, publications.
Education for professional board members and chairperson’s education.
Companies seeking to improve their governance or create a better Board of Directors can ask BICG to recommend experienced and relevant board members from the database of graduates. This database contains graduates of the BICG education for board members and chairpersons exclusively. BICG does not charge graduates for entering the database, nor does it charge companies for sharing information about ongoing selections.
The number of members is constantly changing, but generally consists of over 40 corporate members and 150 or more individual members.