Commitment with external initiatives
In alignment with its corporate positioning, that recommends working in communion, an ample involvement and collaboration in the issues related to sustainability and sustainable development, PREVI has participated in and actively supported a number of initiatives from other domestic and foreign entities in the last few years.
During the period 2003 to 2006, PREVI had already enrolled in relevant initiatives and began to participate in organizations that worked exclusively with sustainability and corporate responsibility. Among those initiatives and participations, outstands its adhesion to Abrapp's Principles of Socio-environmental Responsibility (Associação Brasileira das Entidades Fechadas de Previdência Complementar - Brazilian Association of Complementary Pension Funds Closed-ended Entities), its affiliation to Instituto Ethos de Empresas e Responsabilidade Social (Ethos Institute for Corporations and Social Responsibility), its adhesion to and sponsorship of CDP (Carbon Disclosure Project), a participation in the elaboration of Princípios para Desenvolvimento Sustentável - PRI (Sustainable Development Principles), and its joining the Pacto Global (Global Pact).
Since then, and with even more intensity during these recent years, these entities has assumed even greater responsibilities with a view to foster and strengthen those initiatives, using its prominent position as one of the world's largest institutional investors to intensify the conduction of sustainability aspects in its relationship network.
Between 2007 and 2009 PREVI widened its participation and ties with PRI, integrating the Program's Board and representing Latin America in the Executive Group of this initiative. PREVI participated also in the creation and supports the coordination of the PRI Group in Brazil, organizing the schedule and the operations of the Brazilian signatory entities, besides divulging permanently this initiative and promoting the inclusion of new local members. In the Group PRI Brazil, PREVI participates of all three existing technical groups, created to debate and promote actions in the recruitment, engagement and integration areas.
In addition, PREVI also supported the Iron and Steel Engagement, leads the Emerging Markets Disclosure Project in Brasil, and supports, by means of PRI's Brazilian task-force subgroup, the initiative to engage in favor of Pacto Nacional pela Erradicação do Trabalho Escravo (National Pact in Favor of the Eradication of Forced Labor).
External initiatives supported by PREVI
Abrapp's Principles of Socio-environmental Responsibility
Launched in 2004 by the Associação Brasileira de Entidades Fechadas de Previdência Complementar (Abrapp) in partnership with Instituto Ethos de Empresas e Responsabilidade Social, it is a collection of criteria based Basic Principles of Social Responsibility. That was the first initiative of its kind in the world and therefore, constitutes a milestone in the area of international finance.
Carbon Disclosure Project (CDP)
Since 2005 PREVI participates as signatory of the global and national editions of the Carbon Disclosure Project CDP.
CDP has challenged, in name of the institutional investors, the largest world corporations to measure and report their carbon emissions, integrating long term value and cost of climatic changes to their financial evaluations and their future business prospects.
CDP's understanding is that to confront the challenge produced by the process of climatic change, it is necessary to maintain an ample dialogue supported by good quality information.
Responsible Investment Principles (PIR)
The initiative for setting up those principles was taken by institutional investors in partnership with Unep-Fl and the United Nations' Global Pact , assembled initially in 2005, invited by the then UN's secretary-general Kofi Annan. Its purpose is to integrate environmental, social and governance themes when taking decisions concerning investments and in the proceedings related to real estate.
PREVI was the only Latin American institution to integrate the group representative of the world's largest institutional investors who developed the PRI. Since then has been permanently engaged with this initiative.
Pacto Global
Initiative developed by the organization of the United Nations (UNO) for the purpose of mobilizing the international community in the adoption in their business practices of fundamental values, internationally accepted in the areas of human rights, labor relations, environment, and fight against corruption. Those values are reflected in 10 principles.
Previ signed the Global Pact in 2006.
Iron & Steel Engagement
This initiative was promoted by Hermes Pension Management, signatory of the PRI, with the support of UNEP-Fl, with the objective of stimulating the engagement of steel mills corporations in actions in favor of sustainability with regard to their line of business.
PREVI supported that idea, encouraging the engagement of companies of that sector in which it had invested.
Emerging Markets Disclosure Project
It was an international initiative seeking to increase the propagation of sustainability related information by corporations from emerging markets, like Brazil, China, India, South Africa, South-Korea and Indonesia.
In July 2008, PREVI declared its support to that initiative and agreed to conduct this project throughout Brazil.
National Pact in Favor of the Eradication of Forced Labor
Articulated by the Ethos Institute for Companies and Social Responsibility, together with the International Labor Organization (ILO) and the Non Governmental Organization Repórter Brasil, that Pact aims at increasing the commitment of its signatories with the protection of Human Rights, the eradication of forced labor in the productive chains and to assist in the inclusion in the labor market of people rescued from degrading labor conditions.