Brazil, Financial Services

What BNDES says about its journey towards integrated reporting

BNDES (Brazilian Economic Development Bank) began its journey towards integrated reporting by participating in the IIRC Pilot Program in 2012. Our 2012 report started the gradual process of adoption of the International <IR> Framework. In parallel, BNDES has structured and coordinated the Brazilian <IR> Network to follow the integrated report initiative, recognizing its role of stimulating new and better standards of transparency and corporate governance.

BNDES’s 2016 report is just one more step in the journey towards full adoption of the <IR> framework; it represents the consolidation of the format with clear, objective and concise language, and also brings improvements in the business model and the presentation of outcomes. The representation of the business model describes, qualitatively, that deliveries to society are more than the volume of investments made and that they can also be understood in two large blocks: i) immediate results of strategic alignment of a client’s project implementation and effectiveness, and ii) top-level results to the society and economy. The 2016 report innovates, presenting the section “Making a difference” to describe projects supported by BNDES with relevant deliveries to society in 2016.

Throughout this journey it has been possible to identify the relevance of the integrated report as an instrument of internal and external communication. It was also possible to measure the increase engagement across the whole institution, collaborating not only in the development of the report, but also using the report as an instrument in our daily work.

In addition, the adoption of the report improves BNDES’ interaction with its various audiences, disseminating knowledge about the Bank, and promoting transparency.

The BNDES report is also includes sustainability indicators, according to the GRI standard, in the same document.

About BNDES, the Brazilian development bank

The Brazilian Economic and Social Development Bank (BNDES), one of the largest national development banks in the world, is a state-owned company under the supervision of the Brazilian Government. As the main instrument for the execution of the Brazilian Government’s investment policies, BNDES provides support, either directly or through its subsidiary companies, for investment projects, the acquisition of machines and equipment, and exports of goods and engineering services, as well as other types of projects through long-term financing and operations in the capital market.

The Bank’s actions allow for the implementation of projects with relevant social benefits, providing them with specific financing conditions. BNDES’ operations have evolved during its history to adapt to changing socio-economic challenges in Brazil and its priorities nowadays are infrastructure, education, healthcare and environment, along with the support for micro-, small- and medium-sized enterprises.

Click here to view the BNDES Integrated Report