Empresas Copec has always held the firm conviction that sustainable value creation requires making analytical and informed decisions, considering and respecting the interests of all the parties affected, and delivering the information in a prudent, responsible and timely fashion. For this reason, the Company’s corporate governance structures play an essential role in its management and operations, embracing ethical and professional values for each of its companies and workers, and favoring the achievement of its long-term objectives. The principles governing the corporate governance of Empresas Copec are based on the rules issued by the competent authorities and those defined by the Organization for Economic Cooperation and Development (OECD), which promote transparent and efficient markets and are consistent with the state of law; they articulate the the division of responsibilities among the different authorities; they protect and facilitate the exercise of shareholders’ rights, ensuring the equitable treatment of shareholders; they recognize the rights of the Company’s stakeholders: investors, customers, suppliers, employees, the general public and community; they encourage active co-operation between the corporation and its stakeholders in creating wealth, jobs, and financial sustainability; they ensure the timely and accurate disclosure of information; they promote the strategic guidance of the Company, the effective monitoring of management by the board, and the board’s accountability to the shareholders. See more » These principles highlight the spirit of Empresas Copec, based on common values for all its companies, which have employees and executives of the highest ethical, professional, technical and human excellence. The company not only strives to assure good management, investment and productive practices but also to maintain its unwavering commitment to the community and the environment, thereby contributing to the country’s development by means of education, technological innovation, overcoming poverty and the conservation of the environment. Investment criteria are not only aimed at economic benefits but also bear in mind the social, environmental and political aspects, among others, striving to make a contribution to the welfare of the entire community.