“It is a mistake to think that governance replaces the main components of the company,” says Visabeir CEO.

“To believe that Judgment “Replacing key components that a company should have is making a mistake.” This idea was defended by Nuno Márquez, CEO of Grupo Visabeira, during the session dedicated to the topic “ESG: The Importance of G” at the annual Forbes Summit 2023: Empowering the Future, the event that will be held on Tuesday and brings together political decision. Makers, entrepreneurs and academics, to discuss the role of innovation for a fairer and more sustainable future.

This session also included the participation of João Moreira Rato, President of the Portuguese Institute of Corporate Governance and Asuncão Crestas, Professor at Nova Law School and responsible for the integrated ESG services platform at Vieira de Almeida.

For the CEO of Visabeira, Judgment It does not replace the culture and values ​​of the corporate entity, but rather highlight these well Judgment “With these good ingredients, it can be a glue that makes a difference,” he said, giving an example of the model implemented by Grupo Visabeira in 2020.

“We have changed our business model Judgment Establishing a general supervisory board in which we seek to provide solidity, independence and oversight. This model can be appropriate in different situations, but it depends on how it is implemented, but it is constantly changing. For us, this has been a successfully implemented model that reinforces what we do well. There are always areas to improve, and it is not a simple process to implement, it has a lot to do with the mindset of changing roles. I am an advocate that good governance creates value.

In turn, João Moreira Rato hypothesized that there is greater sensitivity to… Judgment. “There have been positive developments in terms of governance. PSI issuing companies and in general have increasingly committed to the IPCG code. The OG is one of the pillars of E and S, because G is what somehow allows for more solid decisions to be made to support E and S.

However, the IPCG president warned that the entity does not know how to put the entire infrastructure in place. There are certain governance mechanisms that provide some guarantees. One of them is the selection of independents, where there is a nominations committee that selects the profile. The idea is not to walk into a company and manage the details of its culture on a daily basis. Empirical studies show that there is a strong relationship between better governance and increased value, but it is difficult to conclude in which direction this relationship goes.