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Sustainability Report 2019

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Sustainability Report 2019 1. Our 3. Our 4. Our Social 5. Our Environmental Presentation Company 2. Our Business Performance Connections Management 6. The Report ENGIE | Sustainability Report 2019 Sustainability Report 1 / 102 1. Our 3. Our 4. Our Social 5. Our Environmental Presentation Company 2. Our Business Performance Connections Management 6. The Report ENGIE | Sustainability Report 2019 Presentation Message from the Management GRI 102-14 Aligned with the purpose of con- basis, we made our debut in the natural gas value chain by acquiring tributing to the harmonious progress Transportadora Associada de Gás S.A. – TAG, in partnership with a subsidiary of society, ENGIE Brasil Energia of ENGIE S.A. and Caisse de Dépôt et Placement du Québec (CDPQ). The business, continues steadfast in the de- with an investment from the partners of the order of R$ 35 billion, and involving livery of consistent results in several financial institutions, was the largest in more than 20 years of ENGIE’s the present while at the same operations in Brazil – a size justified by our conviction of the crucial role gas is time advancing in the collective to play in the Brazilian energy transition. Firstly, as a resource which enhances construction of a society which the flexibility of a system with a greater degree of intermittent renewable energy combines development and the sources, such as solar and wind power, and from the perspective of a broader common good. We are committed spectrum because of the multiple uses of natural gas along the production chain. to driving this transformation, con- scious that contingent on the cre- With TAG, the curtains were raised on a new cycle anchored in the credibility ation of the future is a change in the achieved by the Company over two decades of activities in the electricity sector. way we produce and consume ener- In this way, we have consolidated our position as a platform of investments in gy. The Company’s achievements in energy infrastructure aligned to the proposal for diversifying our activities. At 2019 are confirmation of the positive the end of the year, there was another important acquisition in the direction of impact of this commitment. diversification: theNovo Estado Energia, the concessionaire for the construc- tion, operation and maintenance of 1.8 thousand kilometers of power lines in The year was characterized by a more the states of Pará and Tocantins. favorable environment for the devel- opment of the businesses in Brazil As in the past, the success of our new businesses has been accompanied by following the approval of structural consistent deliveries. We reported net income of R$ 2,311.1 million, practi- measures fundamental to the recovery cally unchanged from 2018, largely due to the impact of interest and monetary of economic growth, such as Social restatement of the addition debt contracted to render our recent expansion a via- Security Reform. The promising pros- ble proposition – although the effect of this debt tends to lessen over subsequent pects give us the necessary security fiscal years.Cash generation as represented by Ebitda was very positive: to pursue our growth strategy. On this R$ 5,163.1 million – a year-on-year increase of 18.2% in relation to 2018 2 / 102 1. Our 3. Our 4. Our Social 5. Our Environmental Presentation Company 2. Our Business Performance Connections Management 6. The Report ENGIE | Sustainability Report 2019 – a reflection of the assets acquired or going into operation in the period, to the pos- ENGIE Brasil Energia continues steadfast in the delivery of consistent results itive performance of existing plants, the indemnity payment received for non-com- in the present while at the same time advancing in the collective construction pliance with contractual conditions during construction work on Pampa Sul, as well as efficient management of the portfolio and costs, which characterize the financial of a society which combines development and the common good. discipline responsible for the Company’s solid performance. As to the unveiling of new capacity, particular mention must be made of the And to further increase our proximity to clients, in 2019, we ramped up our Go To Market project dedicated to operational startup of the Umburanas Wind Complex – Phase I in the state improving the relationship and strategies for operations with this stakeholder group. Additionally, we reinforced the of Bahia – a bold project given the short time frame set for installation but never- understanding that by acquiring energy from ENGIE Brasil Energia, our clients become part of a value chain which theless concluded in record time below budget, reaffirming the Company’s effi- has socio-environmental responsibility as its key differential. It is reasonable therefore that our clients should also ciency in the construction of its projects. The Umbaranas Wind Complex – Phase I enjoy the benefits accruing from the positive impact of our business on the environment and the communities, as together with the Campo Largo Wind Complex – Phase I, the latter in commercial illustrated by the partnerships with L’Oréal Brasil and Grupo Claro for the supply of renewable energy. operations since December 2018, constitutes ENGIE’s largest wind farm cluster in Brasil, representing a total investment of R$ 3.5 billion. In this context, also worthy All the changes we seek to leverage in society can only be achieved with integral care for the people in our of mention is the start of work on the Gralha Azul Transmission System team. In 2019, we further increased health vigilance as well as the occupational safety of our employees, the in the state of Paraná, with about a thousand kilometers’ extension, as well as focus being on hazards identification and correction. The result was one more year without fatal accidents. On early construction work on Phase II of the Campo Largo Wind Complex, another front, we robustly promoted diversity, notably in the form of gender equality, signing up to the United whose energy output has been fully absorbed through more than 60 agreements Nations Organization’s “Women’s Empowerment Principles” (WEPs) initiative which represents our long-term entered into with free-market clients – a virtuous circle whereby anticipating the commitment so that the theme becomes a shared value throughout the Company. sale of energy enables the construction of the project, which in turn permits the expansion of installed capacity to supply new consumers. Conscious that dialog is the key to the sharing of values, we are dedicated to listening to different stakeholders, especially employees, suppliers, clients, communities and investors. Besides our daily interactions, we promote events and panels of engagement in different regions of Brazil. In this way, we are able to capture stakeholder perceptions as to our operations on our potential for contributing to sustainable development. The result of such interactions renders our action plans richer and more assertive. This is particularly true of socio-environmental initiatives, which are based on the genuine demands of those closest to the businesses. 3 / 102 1. Our 3. Our 4. Our Social 5. Our Environmental Presentation Company 2. Our Business Performance Connections Management 6. The Report ENGIE | Sustainability Report 2019 Meticulous attention to the interests of time, a speedy modernization of sector regulations is called each stakeholder has also served as for. In Brazil, there is consensus on the need to adapt the the lodestone in the decarbonization rules as for example the reduction in subsidies for non-con- process, which includes the divest- ventional sources of energy in order to avoid market distor- ment of the Jorge Lacerda Thermo- tions leading to inadequate conditions of competitiveness. electric Complex in the state of Santa While regulatory questions did not advance up the legislative Catarina and the Pampa Sul Thermo- agenda in 2019, we are confident that given their relevance, electric Power Plant in the state of Rio they will be made a priority in 2020. Grande do Sul – which commenced operations in June 2019. In addition At ENGIE Brasil Energia, sustainability in every aspect re- Maurício to ensuring fair and equitable negoti- mains a priority. The expansion and consolidation of our ations in the light of the value of the position as a provider of energy infrastructure lies ahead. Stolle Bähr assets, we are devoted to making sure Looking at the more distant future, we are alert to the expi- Chairman of the Board of Directors that the new operators are mindful of ration of some of our concessions in 2028 as well as expir- to the needs of the people involved ing concessions currently held by other operators – which and to the environment as ENGIE Bra- could present market opportunities in the same way as the sil Energia before them. Jaguara and Miranda hydroelectric plants in the Brazilian Southeast, which ENGIE acquired in 2017. While decarbonization involves com- plex challenges, the energy transi- We believe in Brazil and work daily to create prosper- Eduardo Antonio tion is accelerating, now driven ity – with the aim of “guaranteeing full and prosperous lives by the consumer market, which in harmony with nature”, as suggested in the UN’s 2030 Gori Sattamini is increasingly conscious of the en- Agenda for Sustainable Development. People’s relationship Chief Executive Officer vironmental and climatic impact of with energy is an essential component in the transformation non-renewable sources of energy. needed for the future of society. A transformation which we The process has thus been shown are leading with consistency and courage. as a one-way journey which requires strategies, investments and an effec- Good reading! tive capacity of execution. At the same 4 / 102 1. Our 3. Our 4. Our Social 5. Our Environmental Presentation Company 2. Our Business Performance Connections Management 6.
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