A report released by the NGO Transparency International revealed that the Odebrecht Group climbed 47 positions in the best practice ranking for divulging information among the 100 largest companies in emerging markets.
The “Transparency in corporate reporting: assessing emerging market multinationals” research studied practices for disclosing information by 100 of the largest multinationals headquartered in 15 different emerging countries. Together, they operate in more than 185 countries around the world
The report evaluates practices for disclosing information based on three dimensions: anti-corruption programs, organizational structure and divulging financial information by country. Odebrecht climbed 47 positions in the general ranking, compared with the last report in 2013 - rising from 97th to 50th position.
In relation to anti-corruption programs in particular, Odebrecht rose from 0% to a 77% assessment, arriving at 22nd place among the 100 companies evaluated.
This evolution was recognized by Transparency International as one of the factors which led to a better score by private as opposed to public companies in the anti-corruption program evaluation.
“Unlike the 2013 results in this item (anti-corruption programs), the private companies evaluated in this study obtained a better average score than state companies. The improved result could principally be attributed to two companies, Mabe and Odebrecht, which have disclosed their anti-corruption programs to the public for the first time”, indicates the report.
Odebrecht confirmed that it is continuing to improve its compliance system, confident that these changes will be reflected in Transparency International’s future assessments.