EDP is the first company in the energy sector in Latin America and a large company in Brazil to have its goal of reducing CO2 emissions approved by the international Science Based Targets (SBTi) initiative, an entity that mobilizes companies to assume commitments to reduce emission and greenhouse gases in a science-based manner. EDP publicly assumed the commitment to, by 2032, reduce the intensity of its emissions by 85% compared to 2017, failing to produce approximately 8 million tons of these gases in absolute terms by the end of the period.

To achieve this result, the Company will carry out actions to reduce direct and indirect emissions associated with consumption and associated with its activity. In this way, EDP will commit to:

• have a 100% renewable energy generation matrix;

• electrify its entire light vehicle fleet in Brazil;

• encourage the purchase and sale of renewable energy in its portfolio;

• reduce technical and commercial losses in distribution.

EDP's goals underwent a validation process by the Science Based Targets initiative, composed of the international entities Carbon Disclosure Project (CDP), United Nations Global Compact, World Resources Institute (WRI) and World Wildlife Fund (WWF). These commitments were established within scientific parameters, in order to effectively detail how much and at what speed the company must reduce its emissions to help limit the increase in global temperature, in accordance with the commitment established in the Paris Agreement.

 “The future of the planet depends directly on a joint effort that involves the entire society. Through the goals assumed with Science Based Targets, EDP validates its commitment to climate science and its mission to lead the energy transition through a green agenda”, says Miguel Setas, president of EDP in Brazil.

 “The energy sector plays a key role in decarbonising the global economy and achieving the goals of the Paris Agreement.  Thus, we are happy to celebrate the approval of the Science Based Targets goal of EDP Brasil and we invite other sectors to be inspired and replicate this methodology so that we can reach the objectives of the Paris Agreement”, says Carlo Pereira, executive director of Rede Brasil do Pacto Global.

 The EDP Group also has, globally, a goal approved by the Science Based Targets initiative — that of reducing the intensity of emissions by 90%. By now assuming the commitment at the national level, the Company understands that it is important to act locally to reduce the climate impacts that occur on a global scale.

 Science and the future of the planet

 With more than 1000 adept companies worldwide, the Science Based Targets (SBT) initiative provides companies with a path to reduce their greenhouse gas emissions, in line with the objectives of the Paris Agreement. The targets set for each corporation are in line with what climate science deems necessary to limit global warming to 1.5°C above pre-industrial levels. This requires globally halving emissions by 2030, in addition to limiting net emissions to levels close to zero by 2050. SBTi periodically reviews its target validation criteria to incorporate the very latest in climate science.

 The initiative recognizes the differences between the different sectors that make up the economy and develops specific sectorial paths. SBTi believes that the establishment of goals also brings benefits to the business, such as protecting future growth, saving resources, increasing investor confidence and stimulating innovation and competitiveness.

 ESG commitments

 In early December, for the 15th consecutive time, EDP was included in the list of the most sustainable companies on the Brazilian stock exchange, appearing in the Corporate Sustainability Index (ISE). The Company achieved the best performance in its history, with above-average marks in all dimensions of the questionnaire and was considered a benchmark in five of the seven dimensions  (General, Social, Environmental, Economic and Nature of the Product).

 In 2020, EDP also submitted to the United Nations (UN) a commitment to reduce its emissions to ensure that global warming does not exceed 1.5°C, joining the Business Ambition for 1.5°C – Our Only Future campaign. The Company also joined Recover Better, a global movement that proposes to governments and organizations around the world to align their recovery and economic aid efforts related to the Covid-19 crisis based on the latest climate studies.

 In 2020, Miguel Setas, president of EDP in Brazil, was announced by the UN Global Compact's Brazil Network as CEO for Sustainable Development Goal 11 (SDG 11) – Sustainable Cities and Communities, in the Leadership with Impact initiative.

 Also within the scope of the Brazil Network of the Global Pact, EDP assumed the coordination of the Action for Climate Platform, which develops activities and projects aimed at mitigating global warming, in addition to anchoring other thematic and sectoral programs related to the climate, such as projects in energy and forests. The platform comprises 98 institutions.

 About EDP in Brazil

With over 20 years of experience, EDP is one of the largest private companies in the electricity sector operating throughout the value chain. The Company, which has over 10,000 direct and outsourced employees, operates in Transmission, Trading and Energy Services and has six hydroelectric generation units and one thermal power station. In Distribution, it serves about 3.5 million customers in São Paulo and Espírito Santo, in addition to being the main shareholder of Celesc, in Santa Catarina. In Brazil, it is a reference in areas such as Innovation, Governance and Sustainability, having been in the B3´s Corporate Sustainability Index (ISE) for 15 consecutive years.

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