Washington, D.C., October 13, 2008—CPFL
Energia S.A., Brazil’s largest private electricity company, today received
IFC’s Client Leadership Award, which recognizes the company’s efforts
in bringing electricity to 6.3 million new customers and creating more
than 7,000 jobs. The company is also making exemplary efforts to reduce
energy losses and mitigate climate change.
The annual award recognizes innovation, operational excellence, and commitment
to socially and environmentally sustainable development, all values for
which IFC stands. This is the first time a Brazilian company has received
the prestigious award.
Wilson Ferreira, CPFL’s CEO, said, “This award acknowledges CPFL’s commitment
to taking actions that benefit local communities beyond our core businesses.
The goal of our strategic planning is to consistently create value for
all our stakeholders, balancing aspects of growth and sustainability. The
IFC Client Leadership Award is recognition of our work and represents an
important achievement for CPFL.”
Presenting the award, Lars Thunell, IFC Executive Vice President and CEO,
said, “CPFL is a model IFC client. It has an excellent reputation as a
well-managed, transparent, and socially responsible company with high governance
standards.” The award ceremony took place during the 2008 Annual Meetings
of the World Bank Group and the International Monetary Fund.
CPFL provides basic infrastructure services to a large segment of the Brazilian
market, with more than 6.3 million customers in the southeastern region.
The company is making major contributions to the government, local communities
in which it operates, and other stakeholders. It has launched and supports
several community programs, including diversity programs that embrace disabled
people in its workforce and supply chain initiatives that foster corporate
social responsibility programs for small and medium enterprises. The company
has an active renewable energy portfolio, including 33 small hydroelectric
plants and interests in eight other power plants. It is also selling an
increasing number of carbon credits.
IFC’s financing helped CPFL restructure and prepare for an initial public
offering in 2004. The company’s success has attracted investment to the
power sector in Brazil, a country that needed to ration electricity in
2001. Today, the company’s operations have made a significant development
impact, including reaching underserved clients and generating substantial
energy through renewable sources. It is also exploring opportunities to
incorporate climate change in its business strategy.
CPFL ranks among Brazil’s best companies in operational efficiency. Its
achievements have been accompanied by consistent financial success, with
earnings rising 17 percent in 2007, compared to the same period in 2006.
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $16.2
billion in fiscal 2008, a 34 percent increase over the previous year. For
more information, visit www.ifc.org.
CPFL Energia is an integrated Brazilian company that generates, distributes,
and commercializes electricity locally in regulated and unregulated markets.
The company is the biggest player in the distribution business in Brazil,
through 8 utilities, as well as in the commercialization business (21%
of market share). In generation, they have 1,672 megawatts of installed
power-generating capacity, representing 2 percent of Brazil’s installed
power base. CPFL is listed in the BOVESPA’s Novo Mercado, a listing segment
for companies that voluntarily choose to commit to higher corporate governance
standards. It also trades as part of the BOVESPA’s Sustainability Index
and is fully compliant with the Sarbanes-Oxley Act. For more information,