Home' Trinidad and Tobago Guardian : November 27th 2014 Contents nternationally, corporate gover-
nance has been a topic of scrutiny
and debate focusing mainly on the
upper management of organisa-
tions. In our local experience, an
example of a breakdown in corpo-
rate governance resonates throughout our
financial landscape with the CL Financial
and the Hindu Credit Union crises. To
avoid such events from happening it should
be in every organisations best interest to
improve their corporate governance prac-
tices to ultimately achieve transparency,
better business practices and profitabili-
ty.Having recently successfully completed
its Improving Corporate Governance in
T&T Project, the Energy Chamber remains
committed to this on-going initiative
among our membership and at a national
level via the dissemination of our corporate
governance toolkit, workshops and sensi-
The first workshop for 2015 will be held
at the Energy Conference on January 28.
The workshop will focus on training and
sensitising middle and upper management
on corporate governance best practice and
how this affects company performance,
increases profitability and creates business
opportunities both locally and abroad.
The project began in 2011 and was partly
funded by the Inter-American Development
Bank s (IDB) Multi-Lateral Investment
(MIF) Fund. It aimed at improving the cor-
porate governance practices in both private
and public interest companies creating an
ethical, non-corrupt business environment,
reducing excessive levels of risk and pro-
moting a competitive stable economy.
The main objectives were to strengthen:
institutional capacity at the upper man-
agement level, the public s capacity for
advocacy, monitoring of governance prac-
tices and the creation of training models.
The aims and objectives were achieved pri-
marily throughout the project via targeted
training and sensitisation workshops. This
ultimately led to the development of the
corporate governance toolkit.
During the life of the project we suc-
cessfully completed 14 corporate governance
workshops with a total of 352 participants
representing more than 150 organisations
throughout T&T which included civil soci-
ety and the private and public sectors. The
workshops were customised for state enter-
prises, NGOs/CSOs, corporate secretaries,
board of directors, senior management,
auditors, compliance officers and all com-
pany decision makers.
We would like to share with you a tes-
timonial by Mr Gerard Deonarine who,
with his board of directors, attended one
of the corporate governance workshops for
NGOs/CSOs. See box on left.
With such positive feedback and in keep-
ing with the momentum of our initiative
on improving corporate governance in T&T
the Energy Chamber will continue to facil-
itate corporate governance workshops and
These workshops can also be customised
for your company s board members and
B 20 4 www.guardian.co.tt BUSINESS GUARDIAN
COMMENTARY | BG15
The ECTT Corporate
t l t lly r t l -
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l l t r u r t t & r l t
u l r r r t r .
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t ut l l t t t l t
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l ut r ty y u y r r.
t l r urt r u .
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Workshops are informative, useful
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r r t ur r t r t .
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u r r ly r t r C r r t r
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r r t r , t l l t u ur u try.
The main objectives
were to strengthen:
institutional capacity at
the upper management
level, the public's capacity
for advocacy, monitoring
of governance practices
and the creation of
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