The weight of SOEs in the global economy has increased over the past decades. The number of SOEs in the top 500 global companies by revenue has practically quadrupled, from 34 in 2000 to 126 in 2023. Their share of global market capitalisation is estimated at 12%. Given their growing role in the marketplace, it is important that SOEs adhere to high standards of corporate governance and contribute to fair and competitive markets, while also ensuring that they are run in the public’s best interests.
The OECD Guidelines on Corporate Governance of State-Owned Enterprises address the unique challenges and opportunities of state ownership. Revised in 2024, they reflect recent evolutions in the global marketplace to ensure that SOEs contribute to sustainability and economic security and resilience by maintaining a global level playing field and high standards of integrity and business conduct.
Since the SOE Guidelines were first adopted, many countries around the world have used them to advance reforms, resulting in more professionalised and active ownership and exposing SOEs to the same standards of transparency and accountability as listed companies. Despite good practices, the level of implementation of the Guidelines still varies considerably between countries. The OECD supports its members and other countries by undertaking country reviews and reform assistance that help to drive national reforms to improve SOE performance and raise institutional capacity.