FT’s Francisco Guerrero reported on the Aspen Institute’s clever Aspen Principles (PDF). The Aspen Principles are designed to help public corporations focus on creating long term value. The principles (and corresponding FT cover story) were published on June 18th. Both media pieces were accompanied by a strong endorsement from a substantial coalition of progressive minded business groups.

Aspen Institute calls the endorsers the “Corporate Values Strategy Group” (CVSG). The group includes leaders from a number of large scale brand name organizations.

The Aspen Principles story is an exceptional example of how powerful interests can employ a smart collaborative process to promote sane business practices.

From their principles document:

“CVSG members believe that favoring a long-term perspective will result in better business outcomes and a greater business contribution to the public good.”

It’s an impressive document. Consider how they frame their process:

“The Principles are not intended to address every issue of contemporary corporate governance, but instead are designed to drive quickly to action in areas that all parties agree are critically important. CVSG members share a deep concern about the quality of corporate governance and favor effective communication between and among executives, boards, auditors, and investors.”

I generally abstain from this type of obnoxiously well catered nonbinding corporate governance wonkery. Nevertheless and notwithstanding, the aforementioned principles are crafted well. Note the nonbinding exception to my anti-wonkery policy.

[tags]Aspen Principles, CVSG, growth management, FT[/tags]