Parque Arauco S.A. (PARAUCO.SN) was recognized as the most transparent company in Chile, according to the latest TRAC Chile 2021 Report, prepared by Chile Transparente (Chilean chapter of Transparency International). TRAC Chile evaluates corporate reportability in Chilean companies and on this occasion considered the public information (financial statements and annual corporate reports, reports of sustainability, etc.) of 36 companies nationwide.
The report evaluates three main aspects including Disclosure of Anti-corruption Policies, which considers the information the company publishes in support of good corporate practices and the fight against corruption; Organizational Transparency, which measures the information disclosed within the scope of the subsidiaries owned by the parent company; and the Information by Country of Operation which evaluates the parent company’s information reportability with respect to its subsidiaries abroad, in terms of realized sales, taxes, contributions to the community, among others.
The report’s results show Parque Arauco obtained the highest overall score, with 95.4% compliance with TRAC Chile standards. Regarding the evaluations by category, in Disclosure of Anti-corruption Policies, the company obtained 92% compliance; in Organizational Transparency, 100%; and in Information by Country of Operation, 100%.
Francisco Moyano, CFO of Parque Arauco, pointed out that: "we are proud to be recognized by TRAC Chile as the most transparent company in the country, since transparency and social responsibility are pillars of our mission and values and therefore are present in each of the actions and relationships that we promote. Without a doubt, this recognition further motivates us to incorporate these practices every day, promoting a new way of doing business, creating spaces of trust, transparency and healthy growth.”
The 36 companies were selected based on factors such as their participation in at least two of five company listings/rankings among which is the Indice General de Precios de Acciones (IGPA), and meeting the three main selection criteria, which are: be a parent company and not a subsidiary, be incorporated in Chile and have operations in at least one additional country.
TRAC (Transparency in Reporting on Anti-corruption) corresponds to an evaluation tool developed and applied by Transparency International since 2008. TRAC seeks to evaluate the level of company information disclosure and specifically evaluates information related to corruption prevention and/or mitigation policies that are developed by companies regarding the organizational structure and information on results by country of operation.
Please find details of the report here:
Currently, Parque Arauco has 1,122,500 m2 of total GLA in Chile, Peru, and Colombia. The company inaugurated its first shopping center in Chile in 1982, entered Peru in 2005 and Colombia in 2008. The company’s assets include 18 regional shopping centers, 10 neighborhood centers, 7 premium outlet malls, 21 strip centers and 9 offices, medical centers, and hotels across Chile, Peru and Colombia. For more details, visit the company’s website: www.parauco.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220616005598/en/
Contacts
Lauren Brown
Head of Investor Relations
Lbrown@parauco.com
(56 2) 2299 0608
