RA Sonae 59.indd

1.Chairman’s Statement
This Report describes how sustainability is incorporated into the Sonae Group’s management structure and practices,
with special emphasis on corporate governance and risk management; the commitments that Sonae SGPS, as the
Sonae Group holding company, makes in relation to our sub-holdings, in its role as the manager of a portfolio of
diversified businesses; and a range of sustainability practices that have been or are being implemented across the
Sonae Group. The Report demonstrates how Sonae, in addition to creating economic value, acts responsibly both
environmentally and socially.
Although this is the Group’s first sustainability report, it is a continuation and extension of the work begun in 2001,
when we published our first Group Environmental Report. Each of our sub-holdings have been making progress in
terms of “walking the talk” of sustainability, as the following pages will show. All sub-holdings, with the exception
of Sonae Capital, will issue Sustainability Reports during 2007. In the case of Sonae Sierra, 2006 will be the third
consecutive year for which an outstanding sustainability report has been published, an achievement of which we can
feel justifiably proud.
The specific characteristics, history and market sectors of each of the Group’s businesses have been determining
factors in the manner in which sustainability continues to be integrated into the governance model of each, and explain
the differing speeds of implementation. As a portfolio manager, we encourage our businesses to seek constantly
to improve the manner in which we integrate social and environmental issues into our management practices, to
develop appropriate reporting and measurement, and to anticipate new trends in order to identify new business
opportunities arising from sustainability. Due to our specific circumstances and challenges however, each sub-holding
is directly responsible for identifying the specific opportunities that may arise from this integrated approach, and to
define the best strategy to maximise value creation.
In addition to the key role of Sonae SGPS to identify overall Group guidelines in this area, one of other main tasks is to
play an active role in international organisations in which the sustainability agenda is being developed and defined. In
this respect, Sonae SGPS continues to play an active role in the World Business Council for Sustainable Development
and in activities undertaken by the Portuguese branch of this organisation, the BCSD Portugal.
In 2004, Sonae SGPS signed the United Nations Global Compact, a voluntary commitment which involves the
disclosure of information each year on how its 10 principles, covering labour, environmental and anti-corruption
practices, are applied and complied with. It is an area that the Group is actively working on to improve. In 2005, Sonae
SGPS also signed the World Safety Declaration, a document that was approved at the XVII World Health and Safety at
Work Congress. This declaration aims to establish goals and define criteria for the evaluation of safety improvements
introduced at the workplace, and seeks to encourage signatory companies to cooperate in the search for better
solutions and to report results achieved at the next Congress meeting that will take place in 2008. Sonae will be
present and participate actively in this event.
In this document therefore, we report on our practices and explain our ambitions and commitments, but we also
accept our limitations. At the same time, we commit to constantly strive to improve in these areas which are so crucial
for business and society at large.
Belmiro de Azevedo
Chairman
Sustainability Report 06
Sonae SGPS, S.A.
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