Itaú and ENGIE renew decarbonization partnership
For the second consecutive year, Itaú and ENGIE have renewed their partnership for compensating greenhouse gas emissions (GHG). This time, the agreement involves the purchase of carbon credits from the Lages Co-Generation Unit (UCLA), ENGIE’s biomass plant in the mountainous region of the state of Santa Catarina. The practice has been adopted since 2015 as part of its Carbon Neutral policy. The bank is to offset its emissions on a totally voluntary basis, 35,354 tons of CO2 related to GHG emissions reported in 2018.
By comparison, the amount is equivalent to the average annual emissions of about 3.8 thousand Brazilians according to World Bank data, considering emissions of CO2 per capita in Brazil in 2018. The Voluntary Cancelation Certificate is internationally recognized, publicly available and was issued by the Organ of the United Nations responsible for climate change (UNFCCC) on January 10, 2020. Leaders in their respective sectors of activity, Itaú and ENGIE are adopting converging initiatives in the direction of sustainability and the transition to a low carbon economy.
The Lages Methane Reduction Project was chosen by the Climate Commitment Program – 2019 Cycle. This is an Itaú and Natura initiative with the support of Instituto Ekos Brasil, focused on organizations interested in maximizing the compensation of their GHG emissions and supporting socio-environmental projects which promote the mitigation of the effects of climate change.
The Plant
UCLA, with an installed capacity of 28 MW, generates renewable thermal electric power using as fuel, timber waste produced in the Lages region. In this way, it avoids the methane gas emissions (a greenhouse gas with the potential for global warming 21 times greater than CO2) which would be produced from the decomposition of wood. The residual ash from the plant is reused for fertilizing the soil in forestry and agricultural activities.
Among the enterprise’s socio-environmental contributions are the restoration of the headwaters of rivers in the Lages region, job workshops, community vegetable garden, donation of indigenous seedlings and botanical projects with local students. An important aspect of work involving this project is the support given to socially vulnerable youngsters. A notable contribution involves the Leoas da Serra outreach project, which benefits more than 400 girls and adolescents through activities involving sport, social inclusion and female empowerment. The project’s indoor soccer team was world champion of the sport in 2019.
“These sustainability differentials and the improvement in the quality of life of the population as well as the contributions of the Lages Project to fulfilling the United Nations Sustainable Development Goals were critical to the conclusion of the agreement with Itaú”, declares the the Chief Energy Commercialization officer of ENGIE Brasil, Gabriel Mann dos Santos.
ABOUT ENGIE
ENGIE is a global reference in low-carbon energy and services. With its 97,000 employees, its customers, partners and stakeholders, the Group is committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by its purpose (“raison d’être”), ENGIE reconciles economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its customers. Turnover in 2022: 82.6 billion Euros.
In Brazil, ENGIE, leader in 100% renewable power generation in the country, operates in generation, commercialization and transmission of electric power, gas transport and energy solutions. The Company
has in the country an installed capacity of 12,5 GW, originated from renewable sources and with low GHG emissions, such as hydro, solar and biomass power plants, and windfarms.
With the acquisition of Transportadora Associada de Gás – TAG, ENGIE now also owns the largest natural gas transportation network in the country, at 4,500 km and transecting 10 states and 191 cities.
The Group has a complete portfolio of integrated solutions focused on reducing costs and improving the infrastructure for companies and cities, such as energy efficiency, public lighting, energy monitoring and management.
With 2,800 employees, ENGIE’s turnover in Brazil in 2023 was of R$ 11.7 billion. ENGIE trades on the B3 through its energy generation and trading company, ENGIE Brasil Energia, under the ticker EGIE3. In addition to being a B3 Novo Mercado component, the Company is one of the very few companies that have been listed in the Business Sustainability Index since its creation in 2005. In 2021, ENGIE Brasil Energia was included in the Carbon-Efficient Index (ICO2), made up of IBrX 100 companies that are most transparent in terms of GHG emissions reporting and how they are preparing for a low-carbon economy.
The company also received in May 2024 the certification Great Place to Work, a recognition which validates the continuous commitment of the company to create a positive and inclusive work environment for all.
The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Euro 100, MSCI Europe) and non-financial indices (DJSI World, Euronext Vigeo Eiris – Europe 120/France 20, MSCI EMU ESG screened, MSCI EUROPE ESG Universal Select, Stoxx Europe 600 ESG-X).