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    Brazil’s CPFL Receives Award for Leadership in Socially & Environmentally Sustainable Development

    By Keith R | October 14, 2008

    Topics: Corporate Social Responsibility, Energy & the Environment | No Comments »

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    From the International Finance Corporation (IFC):

    Brazil’s CPFL Energia Receives IFC Client Leadership Award

    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.

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