The Property Council of Australia (the Property Council) welcomes the opportunity to respond to the Australian Securities Exchange (ASX) Corporate Governance Council’s (CGC) draft fifth edition of the Corporate Governance Principles and Recommendations (the Principles and Recommendations).
The Property Council is the peak body for owners and investors in Australia’s $670 billion property industry. We represent owners, fund managers, superannuation trusts, developers, and investors across all four quadrants of property investments: debt, equity, public and private.
As a member of the CGC, the Property Council is proud to have contributed to the development of the fifth edition. We continue to strongly support the CGC’s aims to encourage proper and modern corporate governance practices for ASX-listed entities.
Our organisation has a strong history of supporting good corporate governance – not just because we believe it is appropriate, but because it represents good business practice. Prudent corporate governance builds investor confidence, it encourages positive risk management and corporate compliance amongst listed entities. Additionally, it has addressed several social and sustainability obligations for business and has encouraged important environment, social and governance (ESG) alignment.