Transpetro became a signatory to the Business Pact for Integrity and Against Corruption, which reiterates its commitment with the principles of compliance, ethics and transparency. As such, since June 27 the company has joined a group of companies that assume a voluntary commitment to promote a higher integrity and ethical business environment, combatting bribery, fraud and corruption conduct.
Coordinated by the Ethos Institute, the Pact is comprised of a set of directives and procedures to be adopted by the signatories in their relationship with the public sector and used as reference by the market. From monitoring reports, the member companies are assessed annually for their business practices related to bribery and corruption prevention, which contributed to the creation and improvement of policies related to the subject.
The pact has been signed by 864 companies, both public and private, including Petrobras. Upon joining, Transpetro reiterates its public commitment towards integrity in the business environments and the creation and maintenance of policies and processes to promote integrity and prevent and fight fraud and corruption. In addition it reaffirms its determination to combat any type of bribery, to promote transparency in providing information and to cooperate with investigations when applicable.
Adherence to the initiative further represents an opportunity to expand the ESG (Environmental, Social and Governance) agenda at Transpetro. “The pact is a reference in Brazil and being a part of it exemplifies our efforts to improve and strengthen compliance, integrity, and corruption fighting and prevention processes, aligned with the best existing corporate governance practices. We are before a measure that contributes to socially responsible business conduct”, stated President Luiz Eduardo Valente.
About the Business Pact for Integrity and Against Corruption
The Business Pact for Integrity and Against Corruption was launched in 2006 through an initiative by the Ethos Institute of Companies and Social Responsibility, UniEthos – Socially Responsible Management Training and Development, Patri Governmental Relations& Public Policies, United Nations Development (Pnud), United Nations Office on Drugs and Crime (UNODC) and the Brazilian Committed of the Global Compact. The tool used for monitoring the commitments assumed by the signatory companies of the pact is the theme guide Integrity, Fighting and Preventing Corruption – Ethos Indicators for sustainable and responsible business. Among the themes covered by the initiative, four are highlighted: public procurement, financing of election campaigns, diversion of public funds, and government publicity.