Odebrecht is one of the 9 Brazilian companies that obtained the maximum score 10, on a scale of 0 to 10, for the Anti-corruption Program in an assessment conducted by the NGO Transparency International of Brazil’s 110 largest companies.
In the general index covering the dimensions of anti-corruption programs and organizational transparency, the score obtained by Odebrecht was 7.5, which put the Group in 29th place and with a score above the total average of 5.7 points. Braskem, a company of the Odebrecht Group, had a score of 8.4, and figured in 16th place in the ranking.
The evolution of our practices in compliance is demonstrated by the comparison with the results of a similar study of Transparency International published in 2016, covering 100 multinationals from emerging markets. Two years ago, we had reached the 6th place with a score of 7.7 for the anti-corruption program. In the study published in 2016 no company reached the maximum score in the anti-corruption dimension.
The study “Transparency in Corporate Reporting: Brazil’s 100 Largest Companies and 10 Largest Banks” evaluates the level of transparency of the 100 largest Brazilian companies and ten largest Brazilian banks regarding the information they disclose.
"When a company discloses its anti-corruption program in detail, it makes a public commitment: any stakeholder (employee, client, investor, regulator) will have the elements to see if the promise is being pushed forward and put pressure on it to actually happen," states IT in its report.
The results in 2018 are a reflection of the Odebrecht Commitment to Act Ethically, with Integrity and Transparency and the Group’s advances in strengthening its Governance and Compliance measures aligned with the highest standards.
This process included the inclusion of independent members on the Boards of Directors of the Holding Company and of all the Businesses, the approval of a robust Compliance System, the creation of the Global Advisory Council and the oversight activities conducted by external monitors as part of the Leniency Agreement, among other important initiatives.
The IT study is conducted in a number of countries and assesses how companies disclose information about their anti-corruption practices, organizational structure, and financial data pertaining to country-to-country performance - for the NGO, three key aspects to assessing corporate transparency. The companies receive a grade based on the quality of the disclosure of these items and are ranked according to the score received.
With more than 20 years of experience and presence in more than 100 countries, Transparency International is an organization dedicated to the fight against corruption in the world. It works in Brazil to support and coordinate local groups in the campaign against corruption, production of knowledge, advice to companies and governments on the best global practices of transparency and integrity.