The Brazil branch of Luxembourg steel and mining company ArcelorMittal has made a commitment to keep its operations free from unethical practices through a new partnership with corruption watchdog NGO Transparency International (TI).

The company stated that it expected the agreement to have a positive impact on its entire production chain, encouraging other companies to also seek better governance, equity and sustainability in business.

ArcelorMittal Brazil was recognised by TI, tanking fifth in the watchdog's 2014 "Transparency in corporate reporting" for its compliance with international laws of compliance, ethics and transparency. The company has therefore before the first Brazilian enterprise to sign a partnership of this kind with the organisation.

"We have an active compliance structure in place and intend to play a pivotal role in helping our country build a broad consensus on integrity within the business community," commented Benjamin Baptista Filho, president of ArcelorMittal Brazil.

"Brazil needs realistic solutions to its current challenges," added TI's Bruno Brandão. "In terms of global rankings for corruption perception, Brazil has a way to go, but compared to many countries, it is an advantageous posiiton. We are living an historic moment, with great risks but also great opportunities."

 

Photo by ArcelorMittal