We have a dynamic portfolio of self-sufficient
Businesses and Investments and act as the guardian
of our business culture through well-established governance.
The Odebrecht Group, which was founded in Brazil,
has operations and representative offices in 27 countries
and a diversified portfolio of Businesses and Investments in
engineering and construction, petrochemicals, agroindustry,
oil and gas, real estate development and infrastructure and
energy investments. Odebrecht S.A. is the holding
company that manages this portfolio
We are more than 47,000 team members united under a single culture and recognized for their technical, planning and execution capacity. Our commitment to transparency and internal transformation is constantly evolving with the adoption of effective actions to ensure the compliance of all processes, the restructuring of organizations and the adoption of best practices in corporate governance.
Structured in 2016, our asset divestment plan has the goal of raising R$ 12 billion in proceeds, of which R$ 7.4 billion already has been generated and R$ 5 billion is pending. In October 2018, we completed the sale of Inova BH (see photo), which is the Brazil’s first Public-Private Partnership (PPP) in the area of education. The initiative’s results show how innovative PPP models can improve the quality of public services for society.
Our corporate governance encompasses the management, communication and process system used to run and monitor the holding company. The board of directors is responsible for approving the strategic guidelines and supervising the management of Odebrecht S.A. In 2018, the composition of the board of directors was renewed, with the main change the increase in the number of independent directors to represent the majority of members. The board of directors is supported by three advisory committees (Compliance; Culture, People & Sustainability; and Financial & Investments), which analyze, without decision-making powers, the matters under their purview to support decisions.
The board of girectors also draws on the support of the global advisory council, an advisory body without decision-making powers. Formed by members of recognized knowledge and extensive experience, it contributes to the Group’s development of a broad and diversified geopolitical perspective to strengthen its management in areas such as governance, sustainability and strategic direction.
We create value in our Businesses and Investments by strengthening
our commitments to sustainable development and to acting ethically, with integrity and transparency.
The Odebrecht Group’s transformation over the past three years was extensive, profound and real. The commitment we undertook, in 2016, to acting ethically, with integrity and transparency, remains unshakable and has led to a series of measures implemented for adopting best practices internally and for transforming the business environment in which we operate.
The practice of the Compliance Policy for Acting with Ethics, Integrity and Transparency and the continuous enhancements to the compliance system, which encompass a series of measures to prevent, detect and remedy risks, attest to the effectiveness of our strategy and the maturation of our management.
Since 2016, we have published six new policies and 21 directives of Odebrecht S.A., which establish how we do business and formalize processes. They also serve as references for the Businesses.
We approved our Risk Management Policy, which will be implemented progressively between 2018 and 2020. The first step, concluded in 2018, identified the main risks of Odebrecht S.A.
In July 2018, we signed a leniency agreement with the Office of the Federal Controller General (CGU) and the General Counsel for the Federal Government (AGU). In January 2019, Eletrobras notified the market of its acceptance of the agreement entered into by Odebrecht with the AGU and CGU.
In February 2019, we signed a cooperation agreement with the Office of the Attorney General of Peru. Furthermore, seven other agreements already had been signed with Brazil, Ecuador, United States, Guatemala, Panama, Dominican Republic and Switzerland.
In August 2018, we signed with Petrobrás a Withdraw of Provisional Ban Instrument, which lifted the block on business with OEC and Ocyan. In November, Brazil's Antitrust Authority (CADE) approved the agreement with Construtora Norberto Odebrecht S.A. (CNO) and, in January 2019, CNO signed an agreement with the World Bank on the conditions for resuming participation in projects financed by the Bank. Learn more.
We intensified communication and awareness actions and organized various training programs on compliance and combating corruption for the directors of Odebrecht S.A. and for all team members.
For the second straight year, we held a meeting between the independent monitors and our team members, presenting the progress made in the efforts carried out to fulfill the agreements signed with the U.S. Department of Justice (DOJ) and Brazil’s Federal Prosecution Office (MPF).
We drafted a Due Diligence and Third-Party Integrity Directive and made advances in prioritizing and evaluating suppliers. We also developed a procurement management platform, which will be implemented in 2019.
In 2017, we conducted an internal audit of Odebrecht S.A. that included the first cycle of the evaluation of processes.
Our commitments go beyond internal transformations to include initiatives for
improving the business environment and public-private relationships.
To support these efforts, we participate in public debates and business
commitments to strengthen the culture of integrity, serving as an example
of transformation and of support for new external initiatives in
the field of ethics and transparency.
In 2018, through OEC, we supported the creation of the Observ Insitute, an online platform accessible by the public for promoting transparency and monitoring public bid processes. We also participated, as a member company of the Ethos Institute, in the working group on Integrity and signed, in July 2018, the Letter of Commitment to the Business Movement for Integrity and Transparency.
Our Sustainability Policy expresses six commitments to a vision of the paths to sustainable development and how we should operate. We work to encourage people to act as agents of change both inside and outside of the Odebrecht Group and to emphasize the importance of balance among generating economic, social and environmental value, promoting culture and acting ethically, with integrity and transparency.
The Odebrecht Foundation, one of Brazil’s longest-serving business foundations, works in coordination with civil society organization, government agencies, partners and social investors to promote sustainable rural development in the Lowlands of Southern Bahia. Since 2003, its efforts have focused on the Program for Development and Growth Integrated with Sustainability (PDCIS), an initiative that contributes to social, economic and environmental transformation in the Lowlands of Southern Bahia, which is home to nearly 285,000 people. In 2018, the PDCIS underwent an Impact Assessment that attested to its positive transformations. See the main results.
Our team members are united under a single culture and recognized
for their capacity to execute and deliver high-quality products and services.
The knowledge, experience and execution capacity of our team
members is the hallmark by which the Odebrecht Group is recognized.
This recognition is based on the innovations and quality products
and services delivered to clients and society, which create value
and foster development in each region where we operate.
All this potential and engagement by our professionals is driven by the force of the corporate culture practiced throughout the Odebrecht Group, which is guided by the Odebrecht Entrepreneurial Technology (TEO) and subsequently our policies and directives. The role of Odebrecht S.A. is to act as the guardian of these principles and concepts of the organizational culture to ensure that they are practiced in daily routines and updated for the successive generations of team members and the dynamics of the challenges faced in order to better serve society.
The pillars of our culture include trusting in people and in their capacity and desire to evolve, self-development via education through work and a focus on the individual as the measure of all values. Supported by this foundation, leaders play the role of educators by creating the conditions and environment for integrating and developing each of their team members. In 2018, more than 934,000 hours were dedicated to training, representing an average of 20 hours per team member.