RiskMetrics Group to Launch Governance Risk Indicators on March 17
10 Mars 2010 - 4:00PM
Business Wire
RiskMetrics Group Inc. (NYSE: RISK), a leading provider of risk
management and corporate governance services to the global
financial community, today announced the launch of its new
Governance Risk Indicators™ (GRId) on March 17, 2010. GRId
assessments will provide institutional investors with a high-level
benchmark of the potential risks stemming from companies’
governance practices and structures. The fully open GRId
methodology is designed to reflect governance best practices in
markets worldwide and draws on a robust data set.
“The financial crisis has reminded investors of the importance
of understanding governance-related risks,” said Stephen Harvey,
Head of Governance Services at RiskMetrics Group. “We believe
market participants should have a consistent and meaningful way to
evaluate the most important governance practices in their markets.
GRId’s open methodology will enable anyone to thoroughly analyze
the Indicators to identify issues and suggest improvements.”
Specifically, GRId will focus on an absolute level of concern
(low, medium, high) across four independent dimensions: board,
compensation/remuneration, shareholder rights and audit. The risk
assessment measures the degree to which a company’s governance
structures may meet, or fall short of, best practices in a
particular market. The absolute measure ensures assessments are
determined entirely by a company’s own governance practices.
At the core of the GRId methodology for each market is a set of
60 to 80 questions that collectively examine a company’s practices
across the aforementioned dimensions. GRId questions, and the
weightings applied to the responses, are tailored to the governance
dynamics of each market covered. GRId therefore provides a
comprehensive screen of governance-related risk, both in terms of
data and universe coverage.
“Corporate governance practices globally have come a long way in
the last decade, with market practices evolving to meet the
increasing needs of investors,” said Dr. Martha Carter, Head of
Global Governance Research at RiskMetrics Group. “By aligning GRId
with our annual policy development process, we ensure the
assessments reflect market variations and are timely and
consistent.”
Beginning the first half of 2010, the GRId universe will
comprise roughly 8,000 global companies, with an expansion to
additional markets, including Japan and Australia, scheduled for
the second half of 2010. The initial coverage universe for GRId
includes the U.S., Canada, U.K., France, Germany, the Netherlands,
and Sweden.
On March 17, 2010 RiskMetrics’ will publish GRId assessments on
its proxy research reports and make available a data verification
site for corporate issuers. Additionally, CGQ scores will be frozen
and the high-level GRId ratings will be available on Yahoo!
Finance. CGQ scores will be retired completely at the end of June
2010.
To learn more about RiskMetrics’ GRId, please visit:
www.riskmetrics.com/grid-info. Currently, this site includes a
technical document, white paper, additional information on GRId for
corporate issuers and institutional investors, and a sample of how
GRId will appear in RiskMetrics’ proxy research reports.
About RiskMetrics Group
RiskMetrics Group is a leading provider of risk management and
corporate governance products and services to participants in the
global financial markets. By bringing transparency, expertise and
access to the financial markets, RiskMetrics Group helps investors
better understand and manage the risks associated with their
financial holdings. Our solutions address a broad spectrum of risk
across our clients' financial assets. Headquartered in New York
with 20 global offices, RiskMetrics Group services some of the most
prestigious institutions and corporations worldwide. To learn more
about RiskMetrics Group, please visit: www.riskmetrics.com.
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