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Climate Change

The impacts of climate change on all production chains led UN signatory countries to approve the Paris Agreement in 2015, with the objective of restricting the average increase in global temperature to 1.5ºC. In 2021, at COP26 – the United Nations Conference on Climate Change, held in Glasgow (Scotland) – several countries revised their goals to combat global warming.

Brazil announced its new Nationally Determined Contribution (iNDC), pledging to reduce national emissions by 43% by 2030, based on total 2005 emissions. This global and national context has a great impact on the electricity sector and, therefore, on our business. The need to reduce emissions creates opportunities for expanding renewable generation and developing projects that generate carbon credits to offset emissions from other productive sectors.

On the other hand, the intensification of climate change creates risks for infrastructure and operational capacity itself. Longer periods of drought can impact hydroelectric generation and more intense rains have the potential to damage distribution and transmission networks.

Our journey in combating Climate Change

In 2021, we disclosed the evolution of the management model and the practices for mitigation and adaptation to climate change, to give even more transparency to our positioning on the transition to a low carbon economy. Annually, we update the publication to reflect new guidelines and advances, for example, promoted by the 2030 ESG Plan: "Our Journey in Combating Climate Change".

The document details, among other aspects, the risks and opportunities related to climate change that we have identified for our business, the procedures for the quantification of greenhouse gas emissions and the way we engage our value chain.

Four Fronts of Action

To face climate change, we assess and implement different actions to adapt our businesses and mitigate impacts related to our activities, especially the emission of greenhouse gases. Our initiatives are centered on four fronts of action, broken down into actions and guidelines for project execution.

Greenhouse Gases (GHG) emissions Management

By preparing our annual emissions inventory, we monitor the volume of GHG emitted into the atmosphere as a result of our activities. Our inventory follows the guidelines and methodologies proposed by the Brazilian GHG Protocol Program, in addition to being disclosed in the Public Emissions Registry, with the Gold Seal, as it is subject to external verification by a third party.

  • In 2023, our gross Scope 1 (direct) emissions totaled 231 thousand tCO2, an increase of 81% compared to 2022, mainly due to the vegetation suppression necessary in the construction works of Cherobim SHPP.  Compared to our base year (2021), there was a 62% reduction in gross emissions from this scope.
  • In Scope 2, losses due to energy transmission account for more than 99% of the total. Therefore, the 13% reduction in the annual comparison, with a total of 219 thousand tCO2 and in 2023, mainly reflects a reduction in the emission factor of the National Interconnected System (SIN) compared to 2022.
  • In Scope 3, we recorded a 2% reduction in gross emissions compared to the previous year, which totaled 308 thousand tCO2.

Management of climate risks and opportunities

In order to manage climate risks and opportunities, we have developed a Map that consolidates the main impacts that we are susceptible, such as changes in physical climate parameters and changes in regulations, in addition to the main opportunities for the development of new products and services. We report this map, as well as other actions, in the CDP. Based on data reported through CDP's 2023 Climate Change questionnaire, CPFL Energia is part of the A-List – one of a select number of companies that received an 'A' grade – among the more than 21,000 evaluated.

Download here CDP reports for Water Security 2023 and Climate Change 2023.

Innovation

Innovation is a lever for business growth and diversification of our company's portfolio. The investments and projects we carry out increase operational efficiency, seeking to minimize the risks of the operation, and identify long-term opportunities, which promote our leading role in transformations in the power sector.

Thus, we have several projects related to mitigation and adaptation to climate risks, linked to the development of solutions for the context of distribution and clean energy generation, and to technologies that impact our sector, such as electric mobility. In addition, we offer low carbon solutions to other organizations.

Solutions for the energy transition

It is part of our commitment to the sustainable development agenda to offer solutions that support our customers in the transition to less carbon intensive production models. We invest, for example, in projects that generate carbon credits to offset greenhouse gas (GHG) emissions.

Currently, we have 11 projects in our portfolio, with the potential to offset an average of 2.4 million tons of carbon (tCO2e) per year. These projects are registered in both the regulated market (CDM) and the voluntary market (VCS). In 2021, we sold 6.2 million credits and revalidated a CDM project at the Campo dos Ventos II Wind Complex. Each certificate is equivalent to 1 ton of carbon that is no longer emitted.

Another product we offer through CPFL Soluções are Renewable Energy Certificates (I-RECs), which guarantee free market customers the purchase of energy from renewable sources. Currently, five assets in our generation portfolio are already qualified for the sale of I-RECs, with the potential to sell up to 1.3 million certificates per year.

CPFL Soluções

Engagement and promotion

We participate in a several of initiatives and commitments related to climate issues, always seeking to foster best practices. In 2018, we became a Financial Stability Board's Task Force on Climate-related Financial Disclosures (TCFD) initiative signatory, which encourages organizations from various sectors to assess the physical and transitional climate risks that are exposed in order to ensure greater transparency. so that financiers, insurers and investors make the best business decisions.

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