Governance

Braskem was created by following the most modern practices of  Corporate Governance , based on principles that favor transparency and establishing the conditions for the development and maintenance of a long-term relationship with its investors. The following are some of the Company's key Corporate Governance practices:
  • Level 1 in the Corporate Governance's listing segment of B3, the Brazilian Stock Exchange, since February 13, 2003.
  • Braskem also complies with other requirements of the Level 2 and Novo Mercado segments of the B3, such as: (i) 100% tag-along rights for all Braskem shareholders in the event of transfer of control; (ii) reporting of financial statements in accordance with international standards (IFRS); (iii) Board of Directors formed by at least five members, with a unified term of up to two years*; and (iv) own internal audit area subordinated to the Board of Directors through the audit committee.
  • Statutory Compliance and Audit Committee, adhering to the provisions of the Securities and Exchange Commission Resolution No. 23/2021 and the rules of the Sarbanes-Oxley Act, which has among its responsibilities the monitoring of the Company's internal controls and risk management, in addition to monitor the quality and integrity of the financial statements and financial reports, as well as the activities of the independent auditors, without prejudice to the legal attributions conferred on the Fiscal Council. In addition, it is composed of five independent members, three members of the Board of Directors and two external members, with experience in corporate accounting matters.
  • Integration Program for Directors, through which the Business Leader and the Chief Compliance Officer present to new Board Members the Company's practices regarding Governance, Compliance and Risk Management, culture and people, in addition to training on Brazilian and North American anti-corruption legislation, among other presentations.
  • Annual assessment of the Board of Directors, its Advisory Committees and the Corporate Governance Secretariat, comprising individual and collegiate approaches.
  • The Board of Directors and its Advisory Committees have an annual calendar***, with the dates of ordinary meetings, and an annual thematic agenda, with relevant subjects for discussion on the respective dates.
  • Corporate Policies which reinstates the Braskem's responsible and transparent management
  • Global Code of Conduct, which establishes the values, principles and corporate practices of the Company
  • Ethics Committee, with the function of supporting the Compliance and Statutory Audit Committee in the application of compliance rules in the Company, including aspects of related parties, as well as resolving complaints received through the Ethics Line channel.
  • Corporate Governance Portal based on a secure electronic system, for providing support materials and confidential information to Board and Committee members.
*In 2023, the average term of office in years of effective members on the Board¹ was 3.01 years. ***In 2023, the average participation of Board members¹ in meetings was 92.11%, as recorded in the respective minutes.