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CPFL Returns to ISE, a Special Investment Portfolio of B3, Due to Its Commitment to Renewable Energy and Social Impact.
The São Paulo power and light company (CPFL) was once again recommended by the São Paulo stock exchange (B3) as one of the companies in the Corporate Sustainability Index (ISE) due to its actions in environmental, social, and corporate governance, highlighting the company’s investment in renewable energy. Since the creation of the portfolio in 2005, CPFL has always been among the highlighted companies (except during the period between 2019 and 2020), a result of the company’s constant effort to continue fulfilling its sustainability plan, which was approved in 2019 and aims to guide the company’s planning in this direction until 2024.
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The portfolio is almost a kind of award that B3 offers to a few companies that are references in corporate sustainability and socio-environmental governance.
Typically, investors are recommended to invest in these companies, which generates an effort among various firms within the stock market to secure a coveted place in this portfolio.
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A Brazilian city gains a factory worth R$ 300 million with the capacity to process 200 thousand tons of wheat per year, a mill of 660 tons/day, silos for 42 thousand tons, and an industrial area of 276 thousand m².
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Havan will leave the shopping mall in Blumenau to inaugurate something that the chain has never done before: a megastore in half-timbered style in the Historic Center of the city, which is expected to be completed in May and change the landscape of local retail.
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Brazilian city gains industrial hub for 85 companies that is equivalent to 55 football fields.
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Peugeot and Citroën factory in Argentina cuts production by half and opens a layoff program for more than 2,000 employees after Brazil drastically harmed purchases of Argentine vehicles.
For the first time since its inception, B3 not only released the recommendation of companies but also created a ranking with them, where CPFL ranks fourth.
“CPFL’s participation in ISE drives us to continuously enhance our practices and governance systems implemented in the company’s strategy and results. Being part of the ISE Portfolio again is a source of pride for CPFL,” commented Rodolfo Sirol, Director of Environment and Sustainability at CPFL Energy.
In addition to the portfolio, CPFL is also part of the ECO2 portfolio of carbon-efficient index of B3, where only companies with transparent practices regarding carbon emissions can participate.
Environmental and Social Responsibility Plan of the CPFL Group: The Secret of Success Goes Beyond Renewable Energy
It is thanks to this plan that the company enjoys a positive reputation today as a company with excellent environmental capabilities.
In this regard, it is important to understand that besides renewable energy, CPFL has also been using other means to optimize electricity distribution, such as upgrading networks and meters through digitization and awareness campaigns directed at its audience for more conscious electricity use.
Additionally, CPFL is committed to managing and monitoring the environmental impacts of its operations as responsibly as possible. In this sense, it is interesting to list some of the public commitments the company has made, which are likely to keep CPFL in the ISE portfolio for longer.
Among the commitments that CPFL made regarding renewable energy:
- Maintain at least 95% of renewable energy sources in the generation portfolio by 2024;
- Reduce carbon intensity by 10% by 2024;
- Publish CPFL Energy’s actions for climate change adaptation;
- Upgrade at least 40,000 pieces of equipment, including transformers and voltage regulators, by 2024, aiming to make energy transmission more efficient;
- Ensure 100% of key network components are reused or recycled by 2024.
Learn more about CPFL’s plans, on this page, where there is a series of interesting information about the company’s actions and policies.
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