Resumo

Pulp industry reflects a potential to lead to advanced sustainable practices(Sharma & Henriques, 2005), and it's considered crucial for the development of global sustainability, as it uses particular raw material basis for its production(Mirkkilä & Toppinen, 2008). The society has discussed about the firm's purpose and value creation, which can be to maximize shareholder value(Coase, 1937) or to create value for a key group of Stakeholders in the firm(Freeman, 1984). One way to strengthen relationships with Stakeholders is through disclosure in relationships and information, using GRI reports.

this study attempt to analyze differences and similarities from Brazilians, Americans and Canadians pulp companies, regarding value creation for Stakeholders. Also, it proposes a complement for Tantalo and Priem (2016) value drivers table, as it shows only generic values. Using the materiality issues disclosed in the 2016 GRI reports from pulp companies on Brazil, USA and Canada. So, it should identify the legitimate Stakeholders declared by the GRI reports from the researched companies; as well as identify the perception of value creation for Stakeholders utilized by the researched companies.

After analyzing the literature, we decided to use Tântalo and Priem’s (2016) paper to select the scope of our research, thus using their paper to identify the perception of the main stakeholders of a firm of what is valuable for them. Also, an extensive research was done in stakeholder theory litearture, and also on pulp and paper sector, materiality issues and sustainability reports to propose this article.

Comparing the materiality issues present in the GRI reports from each studied firm (6 Brazilians, 5 Canadians and 2 Americans), aiming to find trough Bardins qualitative content analysis what the companies declare as material issues, and, therefore, that creates value for their stakeholders. Also, comparing it toTantalo and Priem's (2016) value drivers table.

Three tables were drawn, containing the materiality aspects contained in American, Brazilian and Canadian companies’ GRI reports from 2016, respectively. Each aspect was analyzed, comparing to Tantalo and Priem's (2016) value drivers table, suggesting the atualization to this table, creating new lines and columns, trying to cover some specific aspects from the pulp industry.

The results showed what each country considered to be material on their reports, considering similarities and differences between the three countries. Also suggested a amplification for Tantalo and Priem (2016) table, encompassing ‘Government and Regulatory agency’ as an important stakeholder group, as well as the creation of a ‘Multiple Stakeholder’ group to address other material findings considered in the analyzed GRI reports.

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