71 | 2011 Annual Report - Camargo Corrêa S.A.
Responsbility |GRI SO1, EC8|
Camargo Corrêa Institute (ICC) is responsible for all initiatives stemming from social investments by Camargo Corrêa Group. It conducted 133 projects in 60 Brazilian cities in 2011, reaching directly 29 thousand people and indirectly other 250 thousand. R$ 18.4 million were directly invested, and other R$ 6.6 were raised from partner organizations.
The Institute operates by considering the diversity and scope of business and involved communities to establish, along with business units, policies to support sustainable regional development. It has a Decision Board formed by the Group’s shareholders and key executives from companies.
In 2011, ICC entered into a partnership agreement with the National Development Bank (BNDES) for allocating R$ 50 million, within five years – R$ 10 million/year – to activities of Futuro Ideal, its structuring project. The partnership allowed for 17 initiatives in the year focusing on income creation, carried out especially in North and Northeastern Regions, in the so-called Citizenship Territories. There, 3.4 thousand people from 16 cities benefited from investments of about R$ 8 million.