OEC joins collective initiative to build self-regulation in the infrastructure sector

On May 8, the Instituto Ethos, FGVethics and IFC, a member of the World Bank Group, launched a joint initiative to strengthen the infrastructure sector in Brazil and lay the foundation for its self-regulation. OEC participated in the event as one of the signatories to the initiative. At least 18 companies had already joined the initiative when it was launched, but others are still joining the movement.

All three institutions believe that collective industrywide action to address issues such as ethics, transparency and integrity is essential to achieve long-term sustainable development and ensure the competitiveness of the country’s infrastructure market. The organizers believe that solving these challenges requires collective actions and not just individual efforts. This process will result in the implementation of self-regulation for infrastructure activities.

The coming months will see meetings, discussions and workshops in which engineering companies, construction companies, banks and financial institutions, insurers, trade associations and multilateral agencies, among others, will participate.

The launch event was held in São Paulo, in which the Comptroller General of the Union (CGU), Wagner Rosário, participated. “The government wants an ethical and sustainable relationship between the public and private sectors. This self-regulation initiative is one way of encouraging integrity across the sector,” he said.