B3 calls for corporate social responsibility and inclusion in brazilian companies

Diversity & Sustainability
| 22 Sep 2022

Corporate Social Responsibility (CSR) is a management model in which the company follows good practices to give back to society through more transparent and sustainable management. CSR involves a company’s internal and external public, and among the duties is to offer good working conditions for the company’s team, including offering an inclusive environment. However, despite the importance and advantages that having a heterogeneous general team brings, it is also necessary that the top positions of a company also reflect these ideals. And it was with this in mind that B3 (Brasil, Bolsa, Balcão) plans to make this inclusion the norm.

In August, the Brazilian stock exchange announced new rules to increase racial, gender, and other minority group diversity in senior positions at listed companies. The new rules were published in August and could receive suggestions from the public until the last 16th. The new rules given by B3 to CNN Brasil are expected to come into force in 2023.

The proposal is that the directors or boards of directors of Brazilian companies be formed by at least one woman and one member of some other “minorized community” within two days after the rule comes into force. Companies will have to justify the reason if the goal is not achieved.

To read the complete article from CNN Brasil click here.