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The Exchange is taking part in the 5th Global GRI Conference, an event that brings together sustainability leaders and experts from across the world, at Amsterdam, Holland. Participants will exchange experiences and debate corporate best practice regarding the matter, at several panels to be held from today up until Friday.
Sonia Favaretto, the Press and Sustainability Department Managing Director and Chair of the BM&FBOVESPA Corporate Sustainability Index (ISE) Governance Committee, will be the company’s representative at the event. At the “Brazil: Creating a pathway to promote change through transparency” panel discussion she will present as a case study “Report or Explain for Sustainability or Integrated Reporting”, which is an initiative launched by the Exchange in 2011.
“Report or Explain came into being as a recommendation for voluntary adhesion, from our Exchange to listed companies, to encourage the publication of Environmental, Social and Governance (ESG) information, which investors were increasingly requesting – a trend that has remained strong and continued to build up speed,” explains Sonia Favaretto.
Market demands greater transparency
The voluntary adhesion of companies has been growing every year. In June 2012, 45.31% of listed companies published ESG information or explained why not. In 2015 this share had risen to 71.65%.
As of this year, Report or Explain has taken on a new format. The Securities and Exchange Commission of Brazil (CVM), building on its standard practice, has reformulated the model for the Reference Form, making item 7.8 exclusively for the publication of socio-environmental information. Now companies are committed directly with the regulator, with the Exchange continuing to compile and publish all data in a consolidated manner.
