Listed Level 1 in Corporate Governance by the São Paulo stock market (Bovespa) since 2001 and certified compliant with the Sarbanes-Oxley (SOX) law, VCP is run based on best corporate governance practices. In its report to stockholders, investors, and the capitals market it prioritizes transparency, the provision of accounts, and the equality, pursuing constant improvement of the model.

Management has been professionalized, highlighting the operation of stockholders (represented on the Administrative Board) and the responsibilities of the managers. Brazilian and international norms have been adopted in accounting and the company has remained public, both on the Comissão de Valores Mobiliários in Brazil and its counterpart in the USA, the Securities and Exchange Commission.

One of the recent advances was the creation of the Sustainability Committee, responsible for assuring the issue as an integral part of the business strategy, permeating all the Company’s management processes.
This commitment has been recognized since 2005 by its inclusion on the Business Sustainability Index (ISE), run by Bovespa and subsequently, in 2008, on the Dow Jones Sustainability Index. The Innovation Committee was also created, to stimulate the development and perfecting of products and processes.

In perfecting internal processes, all areas of the Company have been involved in the diagnosis of risks and internal controls necessary for SOX certification, legislation that seeks to assure the reliability of accounts and financial reports produced by companies listed on the US stock markets. Accompanied by the Audit Committee, Pricewaterhouse Coopers has certified compliance with SOX for the second year in a row.

In 2007 VCP won first place in the Intangíveis Brasil Award (PIB) for its corporate governance model, which highlighted the companies that have invested best in generating value for their markets. Held by DOM Strategy Partners, which owns the GAI methodology (Intangible Asset Management), in partnership with Grupo Padrão, publisher of the magazines Consumidor Moderno and B2B, the award evaluated the 1,000 largest companies in Brazil. The criteria were: stock performance, comparison of results in relation to the rest of the sector, interviews with interested parties, and analysis of reports to investors.

In July 2008 at a ceremony held by the Brazilian Association of Public Companies (ABRASCA) VCP won the top prize in the sector for Creation of Value. This was the first edition of the ABRASCA Creation of Value Award, which used a methodology developed for the Brazilian capitals market based on studies done at the University of Navarra (Spain). This methodology, developed by GRC Visão, focuses on governance guided by the creation of value. The award winner, as well as the Standout Companies in the Sector, were judged by the Award Committee composed of members of Abrasca, Abrapp, Amec, Anbid, Ancor, Andima, Anefac, Apimec, BM&F Bovespa, Ibgc, Ibracon and Ini. Ernst &Young accompanied and audited the results.

VCP won in the category “Pulp and Paper”, running against Suzano and Klabin.