Corporate Governance Framework Guide for SME, SOE, Public Companies in Trinidad & Tobago

Between 2011 and 2014 we worked for the Energy Chamber of Trinidad & Tobago and lead the production of a series of corporate governance guides as part of an Inter-American Development Bank (IDB) funded project. These guides are available on the Energy Chambers' website. We referencing them here and providing direct access those files as matter of convenience for you, as a reference to our work, and to promote the work of the Energy Chamber in this regard.

The guide is the centrepiece of the series. In the development of this Energy Chamber of Trinidad & Tobago (ECTT) Corporate Governance Maturity Framework we considered legal requirements as well as the OECD Principles of Corporate Governance, the OECD Guidelines on Corporate Governance of State Owned Enterprises (SOEs), Principles for Unlisted Companies in Europe developed by the European Confederation of Directors Associations (ECODA), the Ministry of Finance State Enterprises Performance Management Manual, and the Trinidad and Tobago Corporate Governance Code (TTCGC 2013 - for which we were the initiating organization and part of leading the actual development of it).

We have long been convinced that governance maturity depends on context. In this guide we have developed a differentiation between:

  • Closely companies
  • Listed companies
  • State owned enterprises

At present, we are expert level members in the ISO/TC309/AHG04 Governance Maturity Model work as well.

Corporate Governance Maturity Framework Guide

Maturity levels are defined for four levels, as follows:

  • Level 1: complying with legal baseline
  • Level 2: understanding need to professionalize corporate governance
  • Level 3: Significant concrete steps
  • Level 4: Advanced governance practices

The maturity framework addresses 24 factors grouped across the following key areas:

  • Roles
  • Board composition
  • Board tasks
  • Board process
  • Disclosure and transparency
  • Shareholders

Access the other Guides on Corporate Governance from the Energy Chamber

Axel Kravatzky

Dr Axel Kravatzky helps governance and strategy leaders innovate with fresh, high standard 21st Century approaches. He is purpose-driven, experienced and highly qualified (BSc, MSc, PhD from LSE). His passion for working with teams and leaders to make an impact goes back his education at UWC. He is currently Syntegra's partner leading the governance and strategy practice, lead educator and guide at and, as well as co-convenor and editor of ISO/TC309/WG1 Governance of Organizations. You can also find him recharging energy in the outdoors - preferably mountains or the sea.

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