Companies need to be more transparent and accountable by applying good governance practices to build customer and investor trust.

The call was made during the inaugural Pacific Governance Summit currently underway in Suva.

More than 200 business executives are part of the summit.

Australian High Commissioner to Fiji, John Feakes says good corporate governance is gaining priority in the minds of investors and other stakeholders.

Feakes says companies have to be more transparent and accountable to their stakeholders, understand and manage a broader set of risks which could disrupt their business than ever before.

He adds these risks include cybersecurity, environmental and natural disasters.

The Pacific Corporate Governance Institute was formed with the support of the Australian Government and technical support by the International Finance Corporation, a member of the World Bank Group.