Global Reporting Initiative

Universal Standards

Employees and administrators must declare potential situations of conflict of interest through a statement to the Ethics and Compliance area. If an administrator is faced with a potential conflict of interest in a decision, he/she must communicate this conflict and abstain from participating in the discussion about and vote on such matter. These actions must be recorded in the minutes of meetings or deliberations in which the topic was discussed. We also communicate potential conflicts of interest to stakeholders, mainly regarding cross-board membership, cross-shareholding with suppliers and other stakeholders, existence of controlling shareholders and related parties, their relationships, transactions and outstanding balances.