Assessing the Alignment of the Peruvian Corporate Governance standard with the OECD Principle of Sustainability and Resilience

Abstract

This article examines the extent to which Peru’s current corporate governance framework aligns with the principle of sustainability and resilience introduced in the OECD Corporate Governance Principles (2023). Drawing on a documentary analysis of corporate governance and sustainability reports from the fifteen top-ranked companies in the Merco Talento 2024 ranking, the study assesses the extent to which ESG criteria are embedded in the formal disclosure mechanisms required by the Superintendence of the Securities Market. The findings indicate widespread compliance with the traditional principles of the Peruvian code, but reveal the absence of an explicit integration of sustainability within corporate governance reporting. This disconnect contrasts with the parallel adoption of sustainability practices and standalone ESG reporting by the same firms. The study thus identifies a regulatory and reporting gap and highlights the need to move toward integrated disclosure frameworks that effectively link governance structures with ESG performance. In this context, the article discusses the implications for updating Peru’s regulatory framework in line with international standards, as well as for strengthening transparency, comparability, and corporate competitiveness.