August 9, 2019
Petróleo Brasileiro S.A. – Petrobras reports that it has achieved, for the fourth time in a row, top grade in all dimensions in the 4th Cycle of the Governance Indicator Certification (“IG-SEST”), prepared by the Secretariat of Coordination and Governance of StateOwned Enterprises – SEST, of the Ministry of Economy.
The company maintained grade 10.0 in all items of the following dimensions: Management, Control and Audit; Transparency of Information; Councils, Committees and Executive Board, keeping governance Level 1 (excellence level).
Such results demonstrate Petrobras’ commitment to the continuous improvement of its governance.
IG-SEST is a continuous monitoring instrument aimed at assessing compliance with the requirements of Law no. 13,303/2016 and guidelines set forth by the Resolutions of the InterMinisterial Committee on Corporate Governance and Corporate Equity Management of the Federal Government – CGPAR, which seek to implement best market practices and the highest level of corporate governance excellence at federal state-owned companies. The purpose of SEST is that state-owned companies develop actions beyond those necessary to the basic fulfillment of legal requirements. In this sense, at each cycle, the Secretariat carries out a questionnaire reassessment: items that have been fulfilled are removed or replaced by others of greater complexity and, consequently, require greater efforts of companies in search of the best level.