Embed Size (px)
Citation preview
Brazil ClimateResilience Index – CDPI-CDPR70
Lauro Marins
Executive Director | Latin America
CDP is a global environmental impact non-profit working to secure a thriving
economy that works for people and planet.
2
ABOUT CDP
Information is the fundamental basis for action. We help investors, companies and
cities to measure, understand and address their environmental impact.
The world’s economy looks to CDP as the gold standard of environmental
reporting with the most comprehensive dataset on corporate and city action.
We aim to make environmental reporting mainstream and provide detailed
insights to drive action for a climate safe, water secure, deforestation free world.
525+ investors with US$96 trillion in assets
Companies take action to
tackle climate change,
safeguard water resources
and prevent the destruction
of forests.
INVESTORS &
COMPANIES &
AUTHORITIES
COMPANIES &
SUPPLIERSRequest
environmental
information
through CDP
Measure
their impact
to improve
performance
Companies and suppliers provide data on
environmental impacts, risks, opportunities,
investments and strategies
Investors and purchasing companies use
CDP to make informed decisions, reward
companies with superior performance and
drive action
3
CDP – How we work?
CDP Worldwide
companiesin 134 countries
cities120 states
buyersUS$3 tri in purchase
InvestorsUS$96 tri AUM
4
9.000+
525+
120+
700+
The CDP Data SetThe Investor Request PLUS the Supply Chain Program
5
CDP data informs the capital markets and civil society action on environmental challenges
INVESTOR
REQUEST
SUPPLY CHAIN
REQUEST
RESULTANTE
What we doTo help develop business models that integrate environmental, social and corporate governance factors into financial decision-making processes.
re.sul.tan.te
adjective
1. Occuring or produced as a consequence of something
noum
2. a force, velocity, or other vector quantity which is
equivalent to the combined effect of two or more component vectors acting at the same point.
We look at economic profit as a RESULTANT of environmental, social and governance factors
RESEARCH
• Supply chain monitoring
• Second opinion in debt and equity operations
• Critical analysis of sustainability reports
EDUCATION
• In company training
• Studies and researches
• Partnerships with business associations
CONSULTING
• Materiality and Stakeholder Engagement
• Sustainability Managemement
• Corporate policies and documents
CDP Consulting Board
Index Objectives and Methodologies
• Stablish a relationship between environmentaldisclosure and financial performance of listedcompanies in Brazil
• Recognize and encourage better disclosure throughCDP climate reporting
Why creating CDP Index in Brazil?
➢ Score CDP
• Participation on Climate Questionnaire of CDP
• Minimum score “C”
➢ Negotiation
• Company inclusion in IBRX-100 Index (B3)
• 3 year negotiation history
Elegibility Criteria
Portfolio construction criteria
Weighting of eligible companies in the portfolio• 70% CDP score (with higher weighting for higher scores)
• 30% market negotiation
Participation limit• Calculated annually based on outlier statistics
• Redistribution prioritizing A and A- scores
Annual review• Based on annual CDP scores
• Index period April to March of the following year
A A- B B- C
Eligibility
Weighting andconstruction
Validation
Disclosure
Monitoring
Portfolio construction process
1. Determine eligibility from CDP scores and negotiation
2. Determine weighting andportfolio distribution, considering statistic cap
3. Present and validate portfolio withthe CDP Board
4. Present portfolio publicly
5. Daily calculation of index performance and disclosure in D+1
Testing and performance
Simulation of previous portfolio
Construction of theoretical portfolios since 2016 (using2015 scores)
Backtesting of financial performance
Example: eligible companies of 2019 portfolio
TICKER Company Name 2018 SCORE TICKER Company Name 2018 SCORE
B3SA3 B3 C KLBN11 Klabin S/A A
BBDC4 Banco Bradesco S/A B LAME4 Lojas Americanas S/A C
BRKM5 Braskem S/A A LREN3 Lojas Renner S.A. C
BTOW3 B2W Companhia Global do Varejo C MRFG3 Marfrig Global Foods S/A C
CCRO3 Companhia de Concessões Rodoviárias - CCR A MRVE3 MRV Engenharia e Participações B
CIEL3 Cielo SA C NATU3 Natura Cosmeticos SA B
CMIG3 Companhia Energetica Minas Gerais - CEMIG A- PETR4 Petróleo Brasileiro SA - Petrobras B
CPLE6 Cia Paranaense de Energia - COPEL C SANB11 Banco Santander Brasil C
DTEX3 Duratex S/A B SULA11 Sul América S/A C
ECOR3 Ecorodovias Infraestrutura e Logística S.A A- TIET11 AES Tiete Energia SA C
ELET6 Centrais Eletricas Brasileiras S/A C TIMP3 Tim Participacões S.A. C
ENBR3 EDP - Energias do Brasil S.A. C TUPY3 Tupy SA C
ITSA4 Itausa Investimentos Itau S.A. A- UGPA3 Ultrapar Participações S/A B
ITUB4 Itaú Unibanco Holding S.A. A- VALE3 Vale B
JBSS3 JBS S/A B VVAR3 Via Varejo C
Backtesting results
900
950
1.000
1.050
1.100
1.150
1.200
1.250
1.300
ICDP70 IBOV IBX ICO2
0,0% 20,0% 40,0% 60,0% 80,0% 100,0% 120,0% 140,0% 160,0%
Desde 2016
2016 a 2018
2017 - 2018
2018
12m
YTD
ICO2
IBX
IBOV
ICDP70
Daily performance of 2019 index Performance of historical portfolios
❑ Adriana Mello – Desenvolvimento Sustentável – Braskem
❑ Thais de Morais Souza – Especialista de Sustentabilidade – MRV
❑ Lauro Marins – Executive Director | Latin America – CDP
Brazil Climate Resilience Index –I-CDPR70
Testing and performance
Lauro Marins
Executive Director | Latin America
+ 55 11 2305 6996 /+ 55 11 98568 4800
Maria Eugênia [email protected]
Bruno [email protected]
Tatiana [email protected]
Antonio [email protected]
