Environmental Management System
We use an Environmental Management System ("EMS") to identify, evaluate and compare the main environmental problems in a systematic manner, and consequently improve our own environmental performance. The aim of the EMS is to identify and monitor the principal environmental aspects affecting our operations and coordinate all activities that have an impact on the environment. EMSs include the ISO (International Organization for Standardization) 14001 System, a widely adopted voluntary program to improve the quality of environmental management. ISO 14001:2004, the latest version of this program, has been in force since November 15, 2004. Companies that have implemented an environmental management system in conformity with the initial 1996 version of ISO, have until May 15, 2006 to change to the ISO 14001:2004 version. After May 15, 2006, the previous ISO certificates will no longer be valid, and only certificates issued on the basis of the ISO 14001:2004 standard will be recognized by the members of the International Accreditation Forum, the international organization representing the accreditation bodies of approximately 44 countries, established to assess the tasks of certification bodies.
In addition to ISO 14001, a community eco-management and audit scheme ("EMAS") was introduced. Compliance with EMAS is voluntary, and EMAS aims to encourage the improvement of environmental management and performance. Companies that wish to adopt to comply with EMAS regulations, must:
- carry out an initial environmental analysis to determine its initial position with regard to environmental conditions;
- set its environmental policy, (i.e., the objectives and general principles for action with regard to the environment);
- prepare an environmental program describing the measures used to achieve the specific objectives of the company's environmental policy;
- implement an environmental management system, (i.e., that part of the management system, such as structure, planning, responsibility, practice, procedures, processes and resources that permits the development, implementation, definition and maintenance of the environmental policy);
- carry out auditing, (i.e. systematic, periodic, documented and objective assessments of the performance of the company, the environmental management system and of the environmental protection measures); and
- prepare an environmental statement for the general public, which summarizes the environmental policy adopted, the environmental management system, the company and any significant environmental issues, the environmental objectives and the company's environmental performance.
EMAS Regulation No. 761/2001 provides that a company's environmental statement must be certified by an independent accredited environmental auditor. Following review and certification, the company may request to be registered in the European EMAS list and use the EMAS logo.
Compliance with EMAS involves a series of benefits such as:
- internal reorganization and consequent growth in efficiency;
- reduction in costs due to rationalization in the use of resources and adoption of cleaner technologies;
- increase in employee motivation and participation, with consequent reduction in internal conflict;
- more trusting relationships with environment control and authorization bodies;
- less probable occurrence of events that may cause damage to the environment;
- greater certainty of compliance with environmental laws;
- good relations with the community, who perceives the company's commitment to environmental improvement;
- increased technical and scientific know-how, to be used for future improvement of environmental performance;
- increased ability to grow while defending the environment;
- greater guarantees of success in environmental actions because of the increased number of assessments;
- reduction of "red tape" to obtain or renew of authorizations/permits; and
- increased value of the company, because of the guarantees to correct environmental management.

