- Time period
- January 2003 – December 2003
Banco do Brasil defines its concept of corporate social responsibility (CSR) in the following way: "Ethics as commitment and respect as attitude in the relationship with employees, providers, partners, consumers, investors, competitors, community, government and the environment.
In the same spirit, Banco do Brasil has launched its "Letter of Principles of Social and Environmental Responsibility." These principles, in accordance with the Global Compact principles, relate to Universal Values such as human rights, fundamental labor principles and rights, and environmental and developmental principles. The principles also emphasize the use of transparency, ethics and respect for the environment as a centerpiece of the company''s administrative and business practices and its relationships with third parties.
Theses commitments to the Global Compact and to the Letter of Principles have been published in Banco do Brasis Annual Report, which describes the banks economic, environmental and social performance. Banco do Brasil also delivers speeches about these themes to employees all around the country and plans on including the concept and letter of the principles in the content of company classes. Additionally, the concept and letter of the principles have been shared through the banks internal news network, and its intranet and internet websites.
To implement the Letter of Principles, Board of Directors and Board of Officers of Banco do Brasil approved a management model and system to manage the CSR efforts and an action plan (2003 - 2007) to transform these commitments into reality.
Following are examples of Banco do Brasils efforts to implement the Global Compact principles:
. Implementation of a social and environmental management system;
. Creation of multistakeholders channels to facilitate interaction with third parties;
. Development of products and services based on the letter of
. Development of administrative processes based on the letter of principles; and
. Preparation of social and environmental indicators for risk analysis.
- Principles covered
- Principle 1 - Businesses should support and respect the protection of internationally proclaimed human rights
- Principle 2 - Make sure that they are not complicit in human rights abuses
- Principle 3 - Businesses should uphold freedom of association & effective recognition of the right to collective bargaining
- Principle 4 - The elimination of all forms of forced and compulsory labour
- Principle 5 - The effective abolition of child labour
- Principle 6 - Eliminate discrimination in respect of employment and occupation
- Principle 7 - Businesses should support a precautionary approach to environmental challenges
- Principle 8 - Undertake initiatives to promote greater environmental responsibility
- Principle 9 - Encourage the development and diffusion of environmentally friendly technologies
- Principle 10 - Businesses should work against all forms of corruption, including extortion and bribery