Amec receives the IIRC

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Richard Howitt and Lisa French, CEO and Chief Technical Officer of the International Integrated Reporting Council (IIRC), respectively, visited Amec’s headquarters in July. Together with Vania Maria Borgerth, Head Accountant at the Brazilian Development Bank (BNDES) and representative of the organization in IIRC’s board of directors, discussed the challenges to implement Integrated Reporting in Brazil. In addition to Amec, the IIRC’s executives also participated in events organized in partnership with the Brazilian Institute of Corporate Governance (IBGC) and the BNDES and met with institutional investors, primarily pension funds.
Howitt and French highlighted that the companies’ major concern is that the disclosure of the Integrated Reporting coincides with the disclosure of the Financial Statements. Such alignment would ensure more relevance to the document, in addition to the real integration of information. However, to make it possible, investors must require that companies do that – a posture that needs further focus to be improved.
Amec and IIRC agreed that a broader adoption of stewardship principles to make institutional investors’ fiduciary duties concrete is necessary for the development of the topic, including information about the relevance of non-financial information under the point of view of risk management, impact of investments and long-term returns. The institutions have committed to working together to drive the engagement of investors through the adoption of stewardship practices.

Richard Howitt, IIRC CEO, and Lisa French, IIRC Chief Technical Officer, were welcomed at Amec’s headquarters by the association’s CEO, Mauro Rodrigues da Cunha (middle)