Guidelines governing its socio-environmental responsibility
The intention of consolidating a better contemplated corporate approach in the sustainability aspects of PREVI's management resulted in a need for the establishment of parameters related to the RSA principles. Those principles should be observed by that institution in all its activities.
Observing the entirety of socio-environmental actions that were already adopted the PREVI, taking as yardstick the other initiatives in practice in the market, and having always the preoccupation of respecting its specificities and strategic goals, this institution has formalized in 2009 its Socio-environmental Responsibility Policy (Política de Responsabilidade Socioambiental - RSA).
That work began in 2007 by setting up an internal taskforce (GT RSA), in which representatives from all directorates, with the assistance of specialized assistants, participated.
The procedures counted with researches involving works produced by other domestic and foreign pension funds and other references, like the orientations from PRI (Principles for Responsible Investment), of ISE (Ratio of Corporate Sustainability), of the GRI (Global Reporting Initiative), of the Ethos Institute for Corporations and Social Responsibility, among others. The GT RSA (taskforce) promoted also debates, like PREVI's Sustainability Workshop, stimulating the dialogue about several subjects related to sustainability. It also carried out a finding of the initiatives which were already practiced by the several PREVI management offices.
The policy, approved in June 2009, starts with some presuppositions which formalize the entity's corporate position and explicates the understanding that:
- PREVI, in order to adequately carry out its mission, must have a long term perspective and a pro-active attitude which might contribute to the creation of a sustainable environment.
- The sustainability concept focuses on the entity's capacity to maintain and develop its strategies, businesses and mission along the time, looking after the social, natural and economic environment where it actuates, so that they might improve and develop in a way to meet the perspectives of a long existence and improvement of its own activities.
- PREVI shares the idea that all economic agents - respecting their legitimate purposes - must be concerned with the achievement of better social results and smaller environmental impacts as a result of their activities.
PREVI visualizes that it is not only possible but necessary as well to combine financial returns with principles of socio-environmental responsibility (RSA).
Long term sustainable results and the advantages of keeping a healthy environment compensate the occasional refusal of seemingly opportunities.
The full text of PREVI'S Policy towards Socio-environmental Sustainability can be seen at www.previ.com.br
The scope of the RSA Policy takes into consideration the different procedures and relationships involved in PREVI's operations: investments, corporate governance, personnel management, infrastructure and organization, means of communication, customer services, contractors, relationship with fund participants, relationship with the sponsor, relationship with the entities of the same sector and other pension funds, relationship with market institutions and government agencies.
Under the definition of General Principles, the RSA Policy formalizes a series of sustainability aspects which must be considered by PREVI in all of its procedures and in its relationship with its different publics as well. The General Principles take into consideration the following items: the ethical behavior; the application and promotion of the principles of good corporate governance; human rights protection; the fight against discriminatory attitudes, harassment, corruption, extortion and bribes; respect towards employees' representation; the promotion of equity and respect for the diversity; support in favor of the eradication of forced and children's labor; the effort towards improving labor conditions; the use of sustainable natural resources; and the management of environmental impacts.
Implementation and follow up
In July 2009, the RSA Policy was presented to PREVI staff and widely announced through different channels, like PREVI's site at internet and that month's edition of PREVI's magazine.
From then on, following the directions recommended by the Management Principles of the above policy, several activities were mapped, forming the RSA Map, a systematization of initiatives in progress or already implanted by PREVI. New opportunities began then to be selected and, together with suggestions from employees, further programs related to sustainability and socio-environmental responsibilities were planned.
Intending to integrate the sustainability issues within the RSA Policy with the strategic information systems that provide support to that entity's decision-making, the data supplied by the RSA Map are being gradually included intoto PREVI's Data Wharehouse (a system of corporate intelligence).
With that procedure it will be feasible to follow up the evolution of the cluster of measures adopted, and identify opportunities for improvement. In addition, it will be possible to establish and monitor RSA indicators in the various areas in a quick and automated manner taking advantage of the possibility on interaction between that procedure and the other PREVI systems.
To align the decision-making procedures involving investments with the RSA Policy, PREVI has been striving in the development of methodologies and tools capable of analyzing socio-environmental impacts in investment projects. The Investment Policy 2010 has widened the consideration of sustainability criteria, following already the RSA Policy. Furthermore, PREVI having also worked and endeavored towards the strengthening of a new culture in investments based on Corporate Governance principles, develops new methods to follow up investments based on RSA stated principles.