Daily Brief ESG: Board Diversity Also Confuses Ends with Means and more

• With few women in managerial positions, the reality is that for the time being female directors are forced to appoint candidates from outside the company.
• Two companies is the limit for a monthly board meeting with agenda preliminarily reviewed; investors should oppose proposals to elect candidates who hold board positions at three or more companies.
• The main idea is to promote board diversity for making strategic decisions based on diverse values, but it has become a numbers matching exercise to achieve % of female board members.

Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
We assess Marfrig’s ESG as “Adequate”, in line with its “Adequate” Environmental, Social and Governance pillars. Controversies are “Immaterial” and Disclosure is “Strong”.