SUSTAINABILITY - Bunge

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assurance declaration4. Main ConclusionsThis is the first Bunge Sustainability Report to be submitted to an external verification process. Weassessed the quality and the scope of the information in the Sustainability Report focused on the managementprocesses in different company areas in accordance with the AA1000 Assurance Standardprinciples of Materiality, Completeness and Responsiveness.a) MaterialityThe concept of materiality in accounting for non-financial indicators defined by the GRI and AA1000addresses the relevance of management questions in terms of their social, environmental and economicimpacts (internal factors) and stakeholders’ expectations of the organization’s performance.Bunge organized a panel to consult stakeholders, as described in the Portões Abertos (Open Gates) sectionof this report. BSD Consulting accompanied this event and confirms the organization’s efforts to refineits accountability through incorporating consultation of stakeholders by means of the panel.Worthy of note is the company’s initiative to improve the report with the incorporation of the externalverification process and the development of communication channels with stakeholders. Forthe current document, the assessment of materiality in the process of preparing the report was consideredto be in accordance with internal management interests. BSD delivered a separate report highlightingmaterial themes identified by the panel of stakeholders that have not yet been adequatelyaddressed by the company.The following points were identified in the first stakeholder paneland should be considered for the next reporting period• Enhance the definition of long-term goals and commitments;• Consider, in a broader view, the definition of the relationship betweenBunge and its partners in the value chain, and;• Broaden the definition of the relationship between the companyand environmental NGO’sWe recommend that Bunge continue developing well defined activities for the engagement of itsexternal publics, responding to more of the identified demands in the next report.b) CompletenessThe principle of completeness associates company activities with organizational performance from thestandpoint of sustainability and the integrity of the information presented.The company’s senior administration demonstrated its commitment to sustainable management and isdeveloping measures to incorporate this question more broadly into management practice. It is importantthat this sustainable approach be disseminated and incorporated by the managerial and operational levelsof the company. We identified a lack of standardization of the sustainability indicators applied by the differentBunge companies in Brazil.We identified the lack of a systematic data gathering process for developing sustainability indicators. Inthe environmental area, we identified the lack of an integrated indicator management system. With respectto internal social indicators, the company is changing the system, the tendency being to develop a systemthat provides more reliable information. We stress the importance of establishing an ongoing indicator monitoringand assessment process throughout the year.
We recommend that the description of the company’s management systems be refined and that actionsassociated with future economic, social and environmental performance targets and commitmentsassumed by the company be included.c) ResponsivenessThe principle of responsiveness relates to indicators showing responsiveness to special stakeholderconcerns and interests.Bunge has specific communications channels to identify the demands of different stakeholders. Thecompany showed an expansion of the measures adopted to strengthen its relations with stakeholderscompared with the 2006 Sustainability Report.The company developed a stakeholder consultation panel seeking alignment between internal strategyand the expectations of key external audiences. We emphasize the importance for the companyof maintaining ongoing engagement activities.We recommend that the company keep up its efforts to expand the process of sustainable managementwith respect to external audiences in order that it might fully exercise the principle of responsivenessin its next report.5. GRI – G3 Level of applicationIn accordance with the GRI-G3 guidelines, BSD declares that the Bunge Sustainability Report, 2008 edition,base year 2007, is classified as level A+. The report provides a response to all the items related to its structureand to all the essential indicators.6. SummaryIn BSD’s opinion, the Bunge Sustainability Report, 2008 edition, base year 2007, demonstrates the company’scommitment to sustainable management. The adoption of an external verification process for the reportconfirms the company’s efforts towards improving transparency. The standardization of indicators and theestablishment of management systems for information on sustainability constitute significant steps towardsassuring the integrity of the information provided. The development of a solid, structured stakeholderengagement process is essential for assessing the materiality of the themes addressed in the report. Weemphasize the importance of integrating the concept of sustainability in all company areas and operationallevels. Solidity in the continuation of the process will contribute to further transparency in accountability tostakeholders and towards the ongoing development of internal sustainable management processes.São Paulo, June 23 rd , 2008Beat GrüningerAssociate SustainabilityAssurance Practitioner IRCA, Nº. 1189266Associate, BSD ConsultingMaria Helena MeinertAssociate,BSD Consulting
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CONTENTSPRINCIPAL GUIDELINES 04MESS
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Global Sustainability PolicyBunge i
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year in the areas mapped. We contin
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VALUE CHAINMININGCOMPLEXES FOR1 INP
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SUSTAINABILITY - Bunge

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