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Annual Report 2014

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GRI G4-18G4-19G4-20G4-21G4-23G4-26G4-27G4-28G4-30

Banco do Brasil (BB) is presenting its 2014 Annual Report showing the principal initiatives and results during the year. The purpose of this publication is to disclose how the Bank manages its business and the impacts within the economic, environmental and social spheres.

Available only in electronic format since 2010, this document abides by the principal Brazilian and international guidelines concerning sustainability and transparency of accountability. The publication has received annual assurance since 2008 from KPMG Auditores Independentes. GRI G4-33

The 2014 Annual Report follows the guidelines of the Brazilian Association of Public-Quoted Companies (ABRASCA) as well as those of the Global Reporting Initiative (GRI), including the financial sector supplement, with the option of the version 4 comprehensive agreement. The publication also meets the criteria of the Dow Jones Sustainability Index (DJSI) and the Corporate Sustainability Index of the (ISE) BM&FBOVESPA as well as the ten principles of the United Nations Global Compact. Furthermore, this report complies with CMN Resolution 4,327/2014 dealing with the implementation of Socioenvironmental Responsibility Policies by financial institutions in Brazil. Any reformulation of information and the reasons for doing so are described throughout the report. GRI G4-22G4-32

The economic and financial data referring to the Banco do Brasil Conglomerate comply with the provisions of Law 6,404/76 (Business Corporation Act) and the rules issued by the Brazilian Securities Commission (CVM) and by the Central Bank of Brazil (Bacen). The information involving social and environmental indicators only covers the Multiple Bank, which in 2014 accounted for 70.9% of the Conglomerate’s operating result. GRI G4-17G4-32

To define the relevant issues for management, in accordance with the GRI G4, the Bank undertook a series of analyses whose starting point was the process for updating the Sustainability Plan – BB Agenda 21. During 2014 the Bank brought together its technical teams, executives and stakeholder representatives to discuss the challenges in the Bank’s sustainability and to define the actions for each of them (find out more on page 49). These forums served to prioritize the challenges according to the guidelines of the G4 version of the GRI, in order to obtain the materiality for the report. This process is proof of the alignment between accountability and management of the topic, which contributes to the engagement of the Senior Management’s and stakeholders within the scope of sustainability. Know More

On the path to integrated reporting
GRI G4-18G4-19G4-20G4-21G4-23G4-26G4-27G4-28

With this Annual Report, Banco do Brasil is commencing the process of aligning its reporting on sustainability with the principles and elements proposed by the International Integrated Reporting Council (IIRC). Several examples of this progress are shown below.

  • Materiality-oriented content through the multi-stakeholder process, based on the updated BB Agenda 21, presenting, whenever possible, comparative information with the history of the Bank and the market
  • Emphasis on short, medium and long-term strategy and objectives, in addition to the main business levers, pointing out the important progress achieved during the reporting period
  • Correlation of subject matters so as to reflect the interdependence between initiatives, areas and operating aspects
  • Dealing with the business model, the relevance and the quality of stakeholder relations, as well as the internal and external factors affecting how BB operates
  • Transparency in explaining the governance structure and guidelines, as well as risk management and opportunities

The G4 version of the GRI guidelines stipulates the preparation of the materiality matrix on two fronts: the importance of the organization’s economic, environmental and social impacts; and the influence of the theme in the stakeholders’ evaluation and decision. The first axis was built based on five distinct analyses:

  • Aligning the challenge with the regulations, laws and international or voluntary treaties
  • The manner in which BB handles the challenge
  • The impact of the challenge, bearing in mind its size and extent
  • The urgency in addressing the challenge
  • The pertinence within the context of the Bank’s vision of the future

To that end, a series of documents and sectorial studies were analyzed, in addition to internal analyses. Thereafter, the challenges of the Agenda 21 were evaluated against the strategic planning. Lastly, the 20th Sustainability Forum enabled executives from the different areas of the Bank to prioritize the challenges by assessing their impacts.

The axis dealing with the influence of the topic in the stakeholders’ evaluation and decision, in turn, was analyzed from three focal points:

  • Highlight given to the challenge by Brazilian banks – Industry survey
  • The ability of the topic to affect the company’s image or reputation – Media analysis
  • Evaluation by the stakeholders

In the first item, the relevance of each challenge for other Brazilian banks is evaluated. The media analysis took into account the possible impact on the Bank’s image or reputation. Stakeholder evaluation took place on the BB 2014 Stakeholders Panel held in September in São Paulo. The event brought together employees, suppliers, customers, civil society, investors/shareholders and specialists in sustainability who, organized around tables, evaluated each of the challenges individually and in groups. The scores given by these stakeholders were subsequently weighted in accordance with the map of the Bank’s priority stakeholders previously defined and approved by BB executives. GRI G4-24G4-25

Further information can be found on the Investor Relations (RI – and Sustainability sites of Banco do Brasil ( or with the BB teams (see contact details in Corporate Information). GRI G4-31

Priority challenges of Banco do Brasil
according to their materiality
GRI G4-18G4-19G4-20G4-21G4-23G4-26G4-27G4-28

  • To enhance the sustainability governance structure by involving Senior Management (Board of Directors, Board of Officers and the Executive Board) in order to strengthen the Bank’s commitment to the topic. GRI G4-EC6 | FS9
  • Improve the brand management process using clear monitoring metrics linked to risk management and financial returns. GRI G4-EC1 | G4-SO6 | G4-PR3 | G4-PR4 | G4-PR5 | G4-PR7 | G4-PR8 | G4-PR9 | FS9 | FS15 | FS16
  • Put in place mechanisms to strengthen employees’ commitment to the Code of Ethics and the Standards of Behavior. GRI G4-HR3 | G4-HR4 | G4-HR5 | G4-HR6 | G4-HR7 | G4-HR12 | G4-SO3 | G4-SO4 | G4-SO5 | G4-SO6 | G4-PR3 | G4-PR4 | G4-PR5 | G4-PR7 | G4-PR8 | G4-PR9 | FS15
  • Enhance Customer Relationship Management and increase the satisfaction index. GRI G4-PR1 | G4-PR2 | G4-PR3 | G4-PR4 | G4-PR5 | G4-PR7 | G4-PR8 | G4-PR9 | FS15
  • Enhance and systematize the identification of business opportunities for developing products that meet the demands created by environmental matters (trends/new regulations on the use of natural resources) and climate change (demands for infrastructure financing in order to adapt to climate change). GRI G4-EC2 | G4-EN15 | G4-EN16 | G4-EN17 | G4-EN18 | G4-EN19 | G4-EN20 | G4-EN21 | G4-EN27 | FS1 | FS2 | FS3 | FS5 | FS6 | FS8
  • Enhance socioenvironmental risk management based on the provisions of CMN Resolution 4.327/2014. GRI G4-EC2 | G4-EN15 | G4-EN16 | G4-EN17 | G4-EN18 | G4-EN19 | G4-EN20 | G4-EN21 | G4-EN27 | FS1 | FS2 | FS3 | FS5 | FS6 | FS9
  • Enhance the relationship between Private Social Investment (ISP) and the business strategy. GRI G4-EC4 | G4-EC7 | G4-EC8 | G4-SO1
  • Enhance the employees’ variable remuneration system, including that of Senior Management, taking into account individual performance. GRI G4-EC5 | G4-LA13
  • Raise the employee satisfaction index. GRI G4-EC3 | G4-EC5 | G4-EC6 | G4-LA1 | G4-LA2 | G4-LA3 | G4-LA4 | G4-LA9 | G4-LA10 | G4-LA11
  • Maintain and expand the Bank’s role as a driver of sustainable development through financial inclusion and social businesses (Production Oriented Micro Credit – MPO, Student Financing Program – Fies, Minha Casa Minha Vida – MCMV Program and the BB Accessibility Credit and the National Program for Strengthening Family Farming – Pronaf, among others), so as to integrate with programs and public policies, partnerships with the private sector and the BB sustainable development strategies (Private Social Investment, volunteer work, digital inclusion, sustainable regional development and a model for integrated involvement in sustainable development, among others). GRI G4-EC7 | G4-EC8 | G4-SO1 | FS1 | FS6 | FS7 | FS13 | FS14 | FS16