Petrobras Will Join Brazil's Main Corporate Sustainability Index in 2021

Petrobras Will Join Brazil’s Main Corporate Sustainability Index in 2021

Written by Roberta Souza

Published on 02/12/2020 at 18:06

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The Brazilian State-Owned Company Stated That It Will Rejoin the Corporate Sustainability Index. A Fact That Had Not Occurred Since 2008 with Petrobras

Petrobras will rejoin the ISE – Corporate Sustainability Index, from B3. According to a statement released by the Brazilian state-owned company, the firm will integrate the main Brazilian index concerning corporate sustainability in 2021, a fact that had not occurred since 2008.

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Roberto Castello Branco, the company’s president, said that “Returning to the ISE is a recognition of our efforts and initiatives regarding environmental, social, and governance aspects. Our Strategic Plan 2021-2025 presents the model of dual resilience, economic and environmental, focusing on low carbon. We have committed to accelerating the decarbonization of our processes and products through new technologies.”

What Is the ISE:

Created in 2005 by the São Paulo Stock Exchange (Bovespa) in partnership with professional entities related to the capital markets, as well as the Getúlio Vargas Foundation, Ethos Institute, and Ministry of the Environment, the index aims to offer investors a portfolio option composed of shares from companies that demonstrate recognized commitment to social responsibility and corporate sustainability.

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Its creation was funded by the International Finance Corporation (IFC), the financial arm of the World Bank, whose mission is to promote investments in the private sector of developing countries, with a central goal of reducing poverty and improving the quality of life of Corporate Sustainability.

The Index is a tool for comparative analysis of the performance of companies listed on B3 concerning corporate sustainability, based on economic efficiency, environmental balance, social justice, and corporate governance.

The index adopts the international concept of Triple Bottom Line (TBL) that evaluates, in an integrated manner, the economic-financial, social, and environmental dimensions of companies, along with criteria and indicators of corporate governance similar to the Johannesburg Stock Exchange index.

Petrobras Will Join Brazil’s Main Corporate Sustainability Index in 2021

The Brazilian State-Owned Company Stated That It Will Rejoin the Corporate Sustainability Index. A Fact That Had Not Occurred Since 2008 with Petrobras

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