Sustainability Report 2004

Sustainability

Governance

In 2004, Aracruz maintained the same basic governance principles that were published in the Company’s 2003 Social and Environmental Report. Developments during the year involved some aspects that had already been identified in the context of the Sustainability Plan. while integration of the Guaíba Unit within the Company’s overall management practices was also emphasized.

Main developments

  • Preparation of an assessment of the Company’s governance through the prism of sustainability. This assessment suggested a number of measures, which will be implemented in 2005.
  • Integration of representatives of the Guaíba Unit into the Environmental Committee.
  • Diagnosis of the need to review the hierarchy and integration of the Company’s principles, codes, policies and regulations, strengthening among other aspects the role of sustainability in these documents. As a result, it was decided to temporarily suspend revision of the Code of Conduct in order to include it in the policy.
  • As of 2005, certification by external auditors of the effectiveness of internal controls attested to by Company management.
  • Preparation of new Institutional Action and Donations policies that seek to decentralize the decision-making process and respond better to local demands. These new policies will take effect during 2005.