Company Directory - Braskem S.A.
Company Details - Braskem S.A.
Braskem S.A.
WebsiteBrazil
Braskem S.A. is a Brazilian petrochemical company that produces thermoplastic resins and is one of the largest producers of polyethylene in the Americas.
CCI Score
CCI Score: Braskem S.A.
-37.86
0.04%
Latest Event
Braskem America Political Influence Profile 2024
OpenSecrets reports that Braskem America, associated with Braskem S.A., contributed $981 and spent $60,000 on lobbying in the 2024 cycle. Notably, 4 out of 5 of its lobbyists in both 2023 and 2024 have held previous government positions, indicating a revolving door dynamic that raises concerns over undue political influence.
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TOADIE
Braskem S.A. is currently rated as a Toadie.
Latest Events
- FEB062025
OpenSecrets reports that Braskem America, associated with Braskem S.A., contributed $981 and spent $60,000 on lobbying in the 2024 cycle. Notably, 4 out of 5 of its lobbyists in both 2023 and 2024 have held previous government positions, indicating a revolving door dynamic that raises concerns over undue political influence.
-30
Political Contributions and Lobbying Efforts
March 29
The data from OpenSecrets reveals that even though Braskem America's direct campaign contributions are minimal, its reliance on lobbyists with prior government experience signals potential for regulatory capture and undue influence in policy-making. This alignment with political power structures is concerning from a democratic accountability perspective.
- NOV012024
Braskem S.A. and 19 individuals, including some executives, have been formally accused by Brazilian federal police for their alleged role in a sinking ground event in Maceió linked to decades of salt extraction activities. The accusations, which include charges of pollution, damage to public property, and the use of false reports, come as the company has also been paying billions in reparations to affected communities.
-60
Business Practices and Ethical Responsibility
March 29
The formal accusation against Braskem for environmental damage, public property destruction, and alleged use of false reports indicates severe lapses in ethical business practices. This ongoing issue, which has resulted in massive reparations and displacement of communities, highlights a pattern of corporate irresponsibility that disproportionately harms marginalized populations.
- NOV012024
Brazil’s federal police indicted 20 individuals connected to Braskem for alleged criminal activities in rock salt mining that led to the collapse of urban neighborhoods and displacement of thousands, amid ongoing investigations and a prior $356-million settlement with the city of Maceio.
-70
Business Practices and Ethical Responsibility
March 29
The indictment of Braskem employees and contractors over hazardous mining practices that contributed to environmental damage and community displacement raises serious concerns about the company’s commitment to ethical business practices and community safety.
Brazil’s federal police indict 20 in connection with salt mine catastrophe in country’s northeast
-60
Economic and Structural Influence
March 29
The structural collapse caused by rock salt extraction has had a considerable negative impact on urban infrastructure and economic stability in affected neighborhoods, underscoring Braskem’s role in fostering long-term public harm.
Brazil’s federal police indict 20 in connection with salt mine catastrophe in country’s northeast
- DEC132023
Brazilian senators launched a federal investigation into Braskem following incidents of sinking ground in Maceio that forced the relocation of approximately 60,000 people, spotlighting potential negligence in environmental and safety practices.
-30
Public and Political Behavior
March 29
The federal investigation initiated by Brazil’s senators underscores significant public and political concerns over Braskem's handling of environmental safety, reflecting negatively on the company’s public accountability.
UPDATE 2-Brazil senators to probe petrochemical Braskem's sinking ground havoc
-60
Business Practices and Ethical Responsibility
March 29
Braskem's ongoing operations despite repeated environmental failures and costly socio-environmental agreements indicate a significant lapse in ethical business practices and responsibility, as evidenced by the displacement of tens of thousands and the financial burdens imposed on local communities.
UPDATE 2-Brazil senators to probe petrochemical Braskem's sinking ground havoc
- DEC012023
Braskem is facing a 1 billion real lawsuit alleging severe damages from its salt mines in Maceió. The lawsuit, brought by state and federal prosecutors, cites significant ground subsidence and forced evacuations of local residents, raising serious concerns about the company’s ethical business practices and accountability to affected communities.
-80
Labor Relations and Human Rights Practices
March 29
The lawsuit against Braskem highlights severe neglect in ensuring safe operations of its salt mines, resulting in ground sinking and forced evacuations that adversely affect vulnerable communities. This reflects a failure in upholding labor relations and human rights practices within the framework of ethical business responsibilities.
- OCT012023
The former CEO of Braskem S.A. pleaded guilty for his role in diverting hundreds of millions of dollars in bribe payments from the company to Brazilian government officials and political parties, signaling deep-rooted issues in ethical business practices and political influence.
-80
Political Contributions and Lobbying Efforts
March 29
The guilty plea by the ex-CEO in a large-scale bribery scheme underscores Braskem's involvement in corrupt practices that funnel illicit funds to political figures and parties. This action not only compromises ethical business operations but also undermines democratic processes, aligning with authoritarian tendencies. Such behavior is severely detrimental from an anti-fascist perspective.
- AUG172023
Following structural issues at its salt mines in Maceió that destabilized local communities, Braskem swiftly initiated actions to safeguard lives, relocate affected residents, and enhance its social programs. The company has further advanced its human rights and environmental initiatives by employing technology for supplier screening and by setting ambitious diversity and inclusion targets.
+60
Public and Political Behavior
March 29
Braskem demonstrated strong public and political behavior by quickly responding to the crisis at its salt mines near Maceió, ensuring community safety and engaging in transparent dialogue about its remediation efforts. This proactive engagement highlights a commitment to safeguarding community rights.
Braskem Takes The Lead In Solving Human Rights Issues In The Plastics Supply Chain
+80
Business Practices and Ethical Responsibility
March 29
The company’s comprehensive initiatives to promote human rights, invest in local community development, and set ambitious diversity and inclusion targets underscore a strong commitment to ethical business practices and social responsibility.
Braskem Takes The Lead In Solving Human Rights Issues In The Plastics Supply Chain
+70
Technology and Services Impact
March 29
Braskem has utilized technology proactively, employing ERP systems and specialized screening tools to ensure transparency in its supply chain and prevent human rights violations like child and slave labor. This strategic application of technology supports broader anti-authoritarian and ethical standards within the industry.
Braskem Takes The Lead In Solving Human Rights Issues In The Plastics Supply Chain
- JAN012023
Braskem America, associated with Braskem S.A., spent $80,000 on lobbying in 2023 according to OpenSecrets. This expenditure highlights the company's attempt to influence U.S. political processes through corporate lobbying efforts.
-40
Political Contributions and Lobbying Efforts
March 29
The lobbying expenditure of $80,000 is seen as an effort to sway political decisions in favor of corporate interests, reinforcing influence over democratic processes and potentially undermining workers' rights and marginalized communities. From an anti-fascist perspective, such actions are worrying as they contribute to corporate capture of policymaking.
- NOV202019
A former Braskem CEO has been indicted for orchestrating a widespread bribery and money laundering scheme involving secret slush funds, bribery of officials to secure contracts, and falsification of company records, thereby undermining ethical business and political practices in Brazil.
-70
Public and Political Behavior
March 29
The case involves the CEO’s engagement in bribery that directly corrupts political processes and undermines democratic accountability, reflecting a severe lapse in public and political ethics.
-80
Business Practices and Ethical Responsibility
March 29
The corporate misconduct, which includes falsifying records and channeling funds through covert means, directly compromises ethical business practices and governance, thereby weakening accountability and transparency.
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