Governance

Of 61 companies evaluated, 14 obtained top marks and received IG-SEST certificates this Friday

The Secretary of Coordination and Governance of State Enterprises (Sest), linked to the Special Secretariat of Privatization, Divestment and Markets of the Ministry of Economy, released this Friday (9/8) the results of the 4th Certification of Governance Indicator IG-SEST , an instrument for continuous monitoring of the governance of federal direct control companies of the Federal Government. In this 4th cycle, 61 companies were evaluated. Of these, 14 received the maximum grade:

1. Bank of Brazil
2. BB Asset Management - Securities Distributor SA (BB DTVM)
3. BB Security
4. National Bank for Economic and Social Development (BNDES)
5. Northeast Bank
6. Federal Savings Bank
7. Center of Excellence in Advanced Electronic Technology (Ceitec)
8. Centrais Elétricas Brasileiras SA (Eletrobras)
9. Energy Research Company (EPE)
10. Conceição Hospital Group
11. Petróleo Brasileiro SA (Petrobras)
12. BR Distributor
13. Federal Data Processing Service (Serpro) and
14. Urban Train Company of Porto Alegre SA (Trensurb).

The overall average of the grades in this 4th cycle was 8.48, which represented a 16% improvement over the previous index, when the average was 7.30. 

Transparency
The Deputy Executive Secretary of the Ministry of Economy, Miguel Ragone de Mattos, stressed that this indicator gives companies transparency. “With this metric, it is possible to provide transparency, but as an induction mechanism for companies to have the best governance possible. Brazil deserves to have the best services possible, the best management we can give, ”he said.

For Fernando Soares, Secretary of Coordination and Governance of State-owned Companies, the improvement in the results of state-owned companies is the result of the governance work that has been done. “She can be transformative in a good business society. One of the secretariat's principles is transparency, either for good or for evil. This is another gear in this process to serve Brazilian society, ”he said.

Evaluation will be annual
Soares also reported that, from the next cycle, the 5th, the evaluation will be annual. So far, the cycles have been semiannual - the first of which was reported in November 2017. In addition, the governance evaluation processes should be unified and simplified and a larger number of subsidiaries should be included.

The director of evaluation and governance of state-owned companies, Ricardo Faria, said that Sest works to improve the assessment instruments. “The objective of the indicator is to continually improve state-owned governance instruments to give taxpayers the transparency and due command of companies.”