Annual Report
Eletrobras 2023
Contents
Welcome
Foreword......................................................................04
Message from Management...................................06
Material Topics...........................................................08
Stakeholder Relationship.........................................13
Highlights from 2023................................................15
1. Eletrobras
Profile............................................................................20
Transformation Journey...........................................26
Strategic Planning.....................................................28
Sustainability Management....................................32
2. Governance
Corporate Governance.............................................40
Governance Structure..............................................41
Ethics, Integrity and Compliance...........................48
Risk Management...................................................... 61
Government Relations..............................................62
3. Prosperity
Operating Performance...........................................66
Financial Performance.............................................72
Commercialization....................................................77
Innovation and Technology.....................................80
Supply Chain Management.....................................87
4. People
Our Employees...........................................................90
Employee Attraction and Retention.....................93
Diversity and Inclusion...........................................102
Worker Health, Safety and Well-Being............. 108
Human Rights...........................................................115
Relations with Communities.................................118
5. Planet
Environmental Management................................134
Climate Change........................................................137
Water and Effluent Management........................149
Biodiversity and Ecosystem Services..................156
Appendices
Assurance Report....................................................168
GRI Content Index....................................................171
Credits.........................................................................180
ANNUAL REPORT
2023
2
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
UHE PAI, II e III - Photo: André Schuler
Welcome
3
ANNUAL REPORT
2023
» Foreword
» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Welcome to Eletrobras 2023 Annual Report. Through this
document, we reaffirm our commitment to sustainability
and transparency, letting our stakeholders know how
our strategy and management generated value between
January 1st and December 31st, 2023. GRI 2-3
For the first time in the history of
Eletrobras, we are publishing a
consolidated report with information
from the holding company and the
five subsidiaries (Eletrobras CGT
Eletrosul, Furnas, Chesf, Eletronorte
and Eletropar). GRI 2-2
The content was constructed according to Eletrobras
companies’ sustainability framework, taking into
account environmental, social and governance
(ESG) factors, and organized into four main pillars:
Governance, Prosperity, People and Planet.
Foreword
How to read this Report?
Throughout the report, we use icons
to indicate content related to the
methodologies used.
» Throughout the text, we highlight GRI
indicators reported in the content next
to the chapter titles or at the end of each
paragraph.
» In the introduction to each chapter, we
show how its content relates to the 2030
Agenda SDGs prioritized by Eletrobras
companies (learn more on page 36).
» In the introduction to each chapter,
we show which Integrated Reporting
Capital its content is related to (learn
more on page 31).
The information is presented in accordance with the
Global Reporting Initiative (GRI) standards, in addition to
other global and sectoral standards and good practices
for corporate sustainability reporting, including:
» International Integrated Reporting Council (IIRC)
Integrated Reporting Framework;
» Stakeholder Capitalism Metrics, World Economic
Forum
» Sustainable Development Goals (SDGs);
» Sustainability Accounting Standards Board (SASB)
Guidelines;
» Recommendations from the Task Force on Climate-
Related Financial Disclosures (TCFD);
» Principles of the United Nations (UN) Global Compact;
» Accounting Manual for the Electrical Sector of the
Brazilian Electricity Regulatory Agency (Aneel).
We are members of the GRI Community, a global
network for exchanging knowledge in sustainability
reporting, which supports the evolution and
updating of GRI guidelines.
ANNUAL REPORT
2023
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» Foreword
» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
6. Appendices
5. Planet
4. People
3. Prosperity
2. Governance
1. Eletrobras
Welcome
Contents
This report is in its 2nd edition as it contains adjustments and/or additional explanatory notes on page
146.
The non-financial information in this report has been assured by an
independent third-party (learn more on page 168) under the oversight of the
as part of the document preparation process. Financial information has been
assured in the Company’s Financial Statements. GRI 2-5
The contents were evaluated by business sustainability representatives from
Eletrobras companies, who are responsible for coordinating the preparation of the
annual report in accordance with internationally accepted standards, such as the
Global Reporting Initiative (GRI) and International Integrated Reporting Council (IIRC).
The final document was also submitted to the Strategy, Governance and Sustainability
Committee and approved by the Executive Board and the Board of Directors. GRI 2-14
Enjoy your reading!
CONTACT GRI 2-3
If you have any questions or comments about the content disclosed herein,
please contact our sustainability team:
sustentabilidade@eletrobras.com
Delivering value
Throughout 2024, we will report a series of reports
regarding our sustainability strategy and performance,
with content that complements and deepens those
presented in this annual report:
» Executive Summary, with the main highlights of the
Annual Report.
» Indicator Booklet, reporting the GRI indicators of
Eletrobras and SPEs.
» Thematic Booklet, deepening the reporting of our
management and initiatives on specific topics such as
Relationship with Communities and Biodiversity.
» SASB, TCFD, IFRS and Sustainable Finance reports, in
compliance with other guidelines.
» SDG booklet.
You will be able to access these documents on the
Sustainability page of Eletrobras Websitel.
Waterfall at CGH Cachoeira Branca - Photo: Vivianne Nunes
5
ANNUAL REPORT
2023
» Foreword
» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
2023 will be recorded as a period of
great transformation at Eletrobras,
during which we established the
foundations that will support our
growth in the coming decades. With
this purpose, our Transformation Office
conducted 75 initiatives, involving more
than 400 professionals and making
significant deliveries for the company.
We know we will witness major changes
in the Brazilian energy sector, driven by
the transition to a low-carbon economy,
and we understand that we have a
paramount role in this new scenario,
generating and transmitting clean
energy to thousands of people across
the country, supporting our customers
in their decarbonization journey and
contributing to sustainable development.
To this end, we reviewed our strategic
plan, reinforcing our position as a
green major: global leader in value
creation with infrastructure and
renewable, low-emission solutions.
In this context, we publicly commit to
zero net greenhouse gas emissions
by 2030, following the Science Based
Targets Initiative (SBTi) guidelines. In
order to achieve this objective, we sold
the Candiota Thermal Power Plant,
our last coal-fired generation asset,
and continued studies for the sale of
the gas-fired Thermoelectric Power
Plants, which should make our matrix
even cleaner from 2024 onwards.
During COP 28, in Dubai, we became
ambassadors of the NetZero Ambition
Movement, which aims to support
companies in establishing ambitious
emission reduction targets, and the
Amazon Impact Movement, which
aims to guarantee forest preservation
by supporting the transition to a
green economy in the region.
This year, we also approved the guidelines
for the production of green hydrogen, with
a focus on meeting the electrical demand
of production chains, such as steelmaking,
with clean, renewable energy. Our
objective is to establish partnerships to
increase the competitiveness of projects
to produce this clean energy source.
The year was also marked by significant
progress in the process of simplifying our
corporate structure. The incorporation
of Furnas was recently approved at the
Extraordinary General Meeting, and we
are awaiting the necessary approvals for
its implementation. It is worth highlighting
the completion of important transactions,
such as the acquisition of Retiro Baixo
Energética and the consolidation of
100% of Teles Pires and Baguari.
2023 financial results showed the
positive impact of increased transmission
revenues, greater cost efficiency and
capital discipline and the simplification of
the company’s administrative structure.
Personnel, material, services and other
expenses (PMSO) showed an 11%
reduction compared to 2022. EBITDA
grew 49% and totaled R$17 billion, and
the annual net profit reached R$4.4 billion,
a 21% increase compared to 2022.
With our increased investment capacity,
we actively participated in Aneel’s
transmission auction calendar. In June,
we won Lot 4, which provides for a 30-
year concession over a 300-kilometer
stretch, including licensing, construction
and operation. Additionally, we invested
R$1.62 billion in generation assets, in
dam modernization, improvement and
safety projects. These investments
support the search for quality, safety
and reliability of services. During 2023,
we recorded a generation availability of
1,027 and transmission lines of 99.96%.
We continue to advance in building
the future Eletrobras. Our vision is
based on three pillars: customers,
culture and safety, and responsible
business performance. These are the
foundations on which we will build
an innovative, long-lasting, resilient,
engaged company capable of delivering
value to society and its shareholders.
We made progress in structuring the
energy trading area, which now operates
in the market in an integrated manner,
with a focus on customer service. We
reached a base of 271 end consumers, a
502% increase when compared to 2022.
In a scenario of improving energy prices,
such as the one currently emerging, the
impact of these initiatives should be even
more visible on the company’s results.
With the purpose of scaling our efforts
in R&D+I, we began to manage all of the
company’s innovation projects based on
a single strategy integrated with other
areas, with fast deliveries and portfolio
management based on value generation
potential. In this context, we created the
Innovation Grid, a platform for connecting
with the innovation ecosystem, with
emphasis on the PowerUp module, an open
innovation initiative aimed at startups.
Message from Management GRI 2-22
ANNUAL REPORT
2023
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» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
6. Appendices
5. Planet
4. People
3. Prosperity
2. Governance
1. Eletrobras
Welcome
Contents
Our commitment to incorporating the ESG
vision into business decision-making is
already materializing in the strengthening
of relationships with communities
and indigenous peoples and in actions
that contribute to local development.
In total, we invested more than R$14
million in voluntary projects focused on
traditional communities and R$1 million
in emergency and institutional actions to
carry out socio-environmental projects.
In order to advance the human rights
agenda in the country, we began to lead
the Human Rights Working Group (WG)
for the Electrical and Energy Sector
of the UN Global Compact in Brazil,
which has the participation of more
than 30 companies of the sector.
We also strengthened our organizational
structure with the creation of socio-
environmental units in the areas of
expansion, operations and in the recently
created sustainability department,
permeating the company’s processes from
project design to their decommissioning.
For the seventh year in a row, we have linked
ESG goals with the variable remuneration
of our directors, managers and employees,
including topics such as decarbonization,
health and safety and social actions.
Our practices continue to be recognized
by the market. We remain in the S&P
Global Sustainability Yearbook 2024
for the 4th year in a row, we are in the
B3 Corporate Sustainability Index and
we have advanced to the leadership
category in the CDP Climate Change
and Water Security dimensions.
We are guided by the nine SDGs of the UN
2030 Agenda prioritized by the company
to guide its actions and by the ten Guiding
Principles of the Global Compact, to which
we have been signatories since 2006.
All of this is only possible thanks to
a strong team. Therefore, we are
committed to promoting the cultural
transformation of Eletrobras and
building an environment where our
employees have continuous learning
and development. The fundamental
foundation for this is the health and
safety of our team. This year, we
centralized the management of this issue
and launched programs to reinforce
our commitment to the comprehensive
health and safety of all employees, with a
8% reduction in the accident frequency
rate. The document “Commitments for
Life” provides 10 behavior rules that
promote responsible and safe conduct.
Throughout 2023, we have been focused
on engaging and renewing our team.
In this context, we began the second
phase of the Voluntary Severance Plan,
which covered about 2,500 people who
were or could be retired. A total of 822
new employees joined the company,
and at the same time, we launched
our trainee program, which attracted
more than 15 thousand candidates.
Reinforcing our commitment to ethics
and integrity, this year we reviewed and
launched the new Compliance Program,
made up of a set of actions aimed at
preventing, identifying and correcting
any non-conformities. In this context,
we expanded our integrity due diligence
actions, which now include third parties
with whom we have relationships or
consider having relationships. A total of
858 third parties were evaluated, including
suppliers, customers and sponsors.
We are confident that these
transformations are essential for the
company. There is a lot to do, but we
are pleased to see that every day we
move forward consistently with the
vision that currently unites our Board
of Directors and Executive Board.
We are grateful for the support, dedication
and effort of our professionals, who
remain steadfast in building the new
Eletrobras. We are committed to being a
safe company that maximizes the return
of invested capital, pursues greater
efficiency, greater returns for shareholders,
customers and professionals and positively
impacts society and the planet.
Vicente Falconi Campos
President of Eletrobras
Board of Directors
Ivan Monteiro
Eletrobras CEO
ANNUAL REPORT
2023
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» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
6. Appendices
5. Planet
4. People
3. Prosperity
2. Governance
1. Eletrobras
Welcome
Contents
Material Topics
In order to report the information of
greatest interest to our stakeholders, in
2023 we updated Eletrobras companies’
materiality matrix, which highlights the
most relevant topics for our performance
and impact on economic, environmental,
social and governance aspects. GRI 3-1
In this cycle, we are based on the dual
materiality methodology presented by GRI
and the European Sustainability Reporting
Guidelines (ESRG), which propose addressing
both the topics that have the greatest impact
on stakeholders and those that have a
financial impact on the organization. GRI 3-1
The methodology considered
research into the company’s external
and internal scenarios, carried out
in the following stages: GRI 3-1
Stakeholders
consulted:
» Shareholders
» Managers
» Customers
» Professionals
» Government
» Partners
» Sponsors
» Suppliers
» Civil society
representatives
» Service providers
» Residents of
communities close to
operations
» Members of other
companies
1. CAPITAL MARKET ANALYSIS
Study of the main sectoral themes
highlighted by capital market
sustainability mechanisms
and frameworks, such as Dow
Jones Sustainability Index (DJSI),
MSCI, RepRisk, Sustainalytics,
ISS ESG, TCFD, GRI and SASB.
2. SECTOR ANALYSIS
Analysis of relevant topics for five
companies considered references
in sustainability in the sector.
3. FEEDBACK FROM
STAKEHOLDERS
Online survey of 12 of the
company’s stakeholders,
which had 960 participants.
4. FEEDBACK FROM EXECUTIVES
Interview with business
executives and leaders.
5. SUSTAINABILITY COMMITTEE
Open consultation with
representatives of corporate
sustainability at Eletrobras, with 45
participants.
6. STRATEGIC PLAN
Survey of ESG themes prioritized
in the guidelines and objectives of
Eletrobras Strategic Plan.
The prioritized topics were
evaluated and approved by the
company’s senior leadership,
including the Executive Board
and the Board of Directors.
ANNUAL REPORT
2023
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» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
6. Appendices
5. Planet
4. People
3. Prosperity
2. Governance
1. Eletrobras
Welcome
Contents
FINANCIAL MATERIALITY
SOCIO-ENVIRONMENTAL IMPACT MATERIALITY
1
2
3
4
5
6
7
8
9
10
11
12
As a result, we came up with a materiality matrix that prioritizes 10 topics considered material and two
relevant topics. The topics are interconnected and transversal to the company’s strategy, and their reporting
is considered important to understand the impacts of our operations. GRI 3-2
Material Topics
1. Worker health, safety and well-being
2. Climate change and energy transition
3. Biodiversity and ecosystem services
4. Community engagement
5. Ethics, integrity and compliance
6. Water resources management
7. Innovation and technology
8. Customer relationships
9. Employees attraction and retention
10. Government relations and advocacy
Relevant Topics
11. Diversity, inclusion and anti-discrimination
12. Tax strategy
ANNUAL REPORT
2023
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» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
6. Appendices
5. Planet
4. People
3. Prosperity
2. Governance
1. Eletrobras
Welcome
Contents
LIMITS OF MATERIAL TOPICS
DIMENSION
MATERIAL TOPIC
IMPACTED AUDIENCES
IMPACTED SDG
IMPACTED CAPITAL
GOVERNANCE
Ethics, integrity and compliance
Internal
Managers
Employees
External
Shareholders
Customers
Government
Partners
Sponsors
Suppliers
Communities
Competitors
Society
Government relations
and advocacy
Internal
Managers
Employees
External
Shareholders
Government
Society
Among the topics considered material in 2022, only Risk and Emergency Management
and Human Rights are not part of the most recent matrix.However, the reporting of both
topics is mandatory in the annual report according to the GRI and Integrated Reporting
guidelines, and their contents are reported both in their own chapter and cross-
sectionally, included in other topics covered. GRI 3-2
Government relations and advocacy and Customer relations topics were included. Climate
change and Energy transition and efficiency were combined into a single topic, aiming for
a more complete management and reporting of the topic. GRI 3-2
Manufactured
Capital
Financial
Capital
Human
Capital
Intellectual
Capital
Social
Capital
Natural
Capital
10
ANNUAL REPORT
2023
» Foreword
» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
LIMITS OF MATERIAL TOPICS
Dimension
Material Topic
Impacted audiences
Impacted SDG
Impacted Capital
PROSPERITY
Innovation and technology
Internal
Managers
Employees
External
Shareholders
Customers
Government
Suppliers
Society
PLANET
Climate change and
energy transition
Internal
Managers
Employees
External
Shareholders
Customers
Government
Suppliers
Society
Biodiversity and
ecosystem services
External
Communities
Society
Water and effluent management
External
Government
Suppliers
Communities
Society
Manufactured
Capital
Financial
Capital
Human
Capital
Intellectual
Capital
Social
Capital
Natural
Capital
11
ANNUAL REPORT
2023
» Foreword
» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
LIMITS OF MATERIAL TOPICS
Dimension
Material Topic
Impacted audiences
Impacted SDG
Impacted Capital
PEOPLE
Worker health, safety
and well-being
Internal
Managers
Employees
External
Government
Suppliers
Communities
Society
Relationship with
Communities
External
Government
Partners
Sponsors
Communities
Society
Employee Attraction
and Retention
Internal
Managers
Employees
External
Shareholders
Customer Relationship
Internal
Managers
Employees
External
Shareholders
Customers
Society
Manufactured
Capital
Financial
Capital
Human
Capital
Intellectual
Capital
Social
Capital
Natural
Capital
12
ANNUAL REPORT
2023
» Foreword
» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
We believe in the relevance of transparency, listening
and dialogue for an increasingly efficient and value-
generating management.
Eletrobras Companies’ Stakeholders Engagement
and Communication Policy, approved by the Board
of Directors (CA), establishes guidelines to promote
integrated and participatory communication. The
document aims to disseminate our principles and
values to stakeholders mapped and prioritized in
our Value Creation Model (learn more on page 31)
and in Eletrobras Code of Conduct. This policy is
complemented by Eletrobras Companies’ Spokesperson
Policy. GRI 2-29
The Communication Department has the role of
establishing guidelines and driving the communication
strategy, in addition to managing the brand, image,
reputation and engagement with all stakeholders.
In order to bring us even closer to our stakeholders, we
have developed several communication channels to
encourage engagement with these stakeholders, as
described below. GRI 2-29
Stakeholder Relationship
STAKEHOLDER ENGAGEMENT
Stakeholder
Type of engagement
Workforce/family
•
Intranet;
•
Eletrobras News;
•
Eletrobras TV;
•
Eletrobras em Pauta (digital newsletters aimed at members of the Board of Directors);
•
Conexão (digital newsletters aimed at leaders);
•
Se Liga (audio messages on strategic topics);
•
Management WhatsApp;
•
Strategic media analysis;
•
Executive communication report;
•
Energia de quem faz;
•
Somos Eletrobras;
•
Tá Ligado!;
•
Reporting channel;
•
Ombudsman.
Investors/
shareholders/
market analysts
• “Investor Relations” section of the website;
• IR Ombudsman Channel on the website;
• Market disclosures;
• Disclosure of material facts and notices to shareholders and conference calls;
• Shareholder meetings;
• Email marketing;
• Reporting channel.
Communities
• Engagement with communities is carried out on an ongoing basis in each project;
• Reporting channel;
• Ombudsman.
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» Stakeholder Relationship
» Highlights
6. Appendices
5. Planet
4. People
3. Prosperity
2. Governance
1. Eletrobras
Welcome
Contents
STAKEHOLDER ENGAGEMENT
Stakeholder
Type of engagement
Society
• Contact us;
• Ombudsman;
• Reporting Channel;
• Sustainability Channel;
• Eletrobras Portal;
• Social networks;
• Reputation survey;
• Advertising campaign.
Press/opinion makers
• Eletrobras News and the Energia a Limpo section of our website;
• Preparation and distribution of releases to disseminate relevant data and and invitations to
journalists for interviews via website, email or WhatsApp;
• Press service via email and telephone exclusively for journalists;
• Press conference interviews;
• Reporting channel.
Partners/Sponsors
• We support events aligned with our business strategy and institutional positioning.
• Reporting channel;
• Ombudsman.
Suppliers
• The Supplier Portal is available on Eletrobras website, which brings together all the
information necessary for companies interested in providing goods and services to the
company.
• Reporting channel;
• Ombudsman.
Governments/
congress/regulators
• Participation in public hearings, in the Federal Senate and in the Chamber of Deputies;
• Responding to demands from parliamentarians;
• Development of Institutional and Government Relations programs and projects;
• Whistleblowing channel.
Customers
• During Eletrobras’ restructuring process, the Vice-Presidency for Commercialization and
Energy Solutions was created to foster this relationship;
• Whistleblowing Hotline.
Handling controversy
In the context of corporate sustainability, companies
are subject to evaluation not only for their value
generation, but also according to their controversial
topics, i.e., those in which operations or products
can, supposedly, have a negative environmental,
social or governance impact. This report, for example,
addresses the negative and positive impacts of the
business, seeking to provide a reliable image of our
operations.
To increase business transparency and respond to
the demands of our stakeholders, we also make the
website Energia a Limpo available, which addresses
and provides answers to the most sensitive topics in
our operations, clarifying our positioning and actions.
Market disclosures
On the Latest News page of our Investor Relations
website, we present the main topics considered
relevant to be communicated to shareholders,
including Relevant Facts, Market Diclosures, bulletins
and minutes of meetings. The facts highlighted in
2023 included the restructuring of the Executive
Board, the launch of the second phase of the
Voluntary Severance Plan, the participation in a
transmission auction, the launch of the Compliance
Program, the acquisition of SPEs and the decision to
incorporate Eletrobras Furnas.
ANNUAL REPORT
2023
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» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
14
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Highlights from 2023 - A year of transformation
GOVERNANCE
PEOPLE
PLANET
PROSPERITY
» 146.9 thousand GWh of energy
generated, 96.5% from renewable
sources
» R$1.62 billion invested in
generation assets
» Generation availability of 1.027
» Transmission availability rate of 99.96%
» Gross revenue of R$44.47 billion
» R$9.02 billion in investment
» 11% reduction in PMSO (personnel,
material, services and other expenses)
» Development of the
commercialization business, with a
dedicated team in São Paulo (SP)
» 502% increase in customer base
» R$533.9 million invested in innovation
» Implementation of the Innovation
Grid, a connection platform with the
innovation ecosystem
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2023
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» Highlights
6. Appendices
5. Planet
4. People
3. Prosperity
2. Governance
1. Eletrobras
Welcome
Contents
Highlights from 2023 - A year of transformation
GOVERNANCE
PEOPLE
PROSPERITY
PLANET
» Establishment of the net
zero target by 2030
» Ambassador of the Amazon Impact
and Net Zero Ambition Movements
of the UN Global Compact in Brazil
» Divestment actions in non-
renewable energy projects, including
the sale of UTE Candiota
» Launch of PortalGeo, which
allows monitoring the planning,
implementation and operation of assets
» First green hydrogen
certification in Brazil
» Emission of 5.7 million tCO2 in
line with the previous year
» Issuance of 3.7 million renewable
energy certificates
» Support for Regional Funds for the
revitalization of the São Francisco,
Parnaíba and Furnas river basins
» Participation in COP 28
ANNUAL REPORT
2023
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» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
6. Appendices
5. Planet
4. People
3. Prosperity
2. Governance
1. Eletrobras
Welcome
Contents
PLANET
Highlights from 2023 - A year of transformation
GOVERNANCE
PEOPLE
PROSPERITY
» 822 new employees hired
» Launch of the first trainee program
» Launch of the “Our Energy” Program to
transform organizational culture
» Launch of the Commitments for Life
regulation and 8% drop in the accident
frequency rate among employees
» First Eletrobras Diversity Census
conducted
» Inclusion in the first IDIVERSA B3
portfolio and maintenance of the
Bloomberg Gender-Equality Index Seal
» Implementation of the unified hybrid
work model
» R$22.3 million in Private Social
Investment
» Leadership of the Human Rights Working
Group for the Electricity and Energy
Sector of the UN Global Compact in
Brazil
» Beginning of the first independent
Human Rights Impact Assessment of
the Brazilian electrical sector
ANNUAL REPORT
2023
17
» Foreword
» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
6. Appendices
5. Planet
4. People
3. Prosperity
2. Governance
1. Eletrobras
Welcome
Contents
GOVERNANCE
» Implementation of a Transformation
Management Office (TMO), with the
launch of more than 75 structured
transformation plans and the
participation of more than 400 people.
» Transformation of main subsidiaries
into wholly owned subsidiaries
» Rationalization and standardization
of the governance system and
integrated management model
» Reformulation of the Executive Board,
which now is made up of 11 Vice-
Presidents and one President
» Structuring the new remuneration
model for managers
» Launch of the New Compliance
Program
» Approval of Related Party and
Conflict Management, Management
Remuneration, Indemnity and
Referrals Policies
» Approval of the first Strategic Plan of
private Eletrobras
» Ambassador of the 100%
Transparency Movement of the UN
Global Compact in Brazil
PLANET
Highlights from 2023 - A year of transformation
PROSPERITY
PEOPLE
ANNUAL REPORT
2023
18
» Foreword
» Message from Management
» Material Topics
» Stakeholder Relationship
» Highlights
6. Appendices
5. Planet
4. People
3. Prosperity
2. Governance
1. Eletrobras
Welcome
Contents
Retracionamento de cabos em torre de Linha de Transmissão - Foto: Marcelo Camargo Constante
Eletrobras
CHAPTER 1
19
ANNUAL REPORT
2023
» Profile
» Transformation Journey
» Strategic Planning
» Sustainability Management
» Profile
» Transformation Journey
» Strategic Planning
» Sustainability Management
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
We are Eletrobras (Centrais Elétricas Brasileiras S/A),
an electric power company leader in generation and
transmission in Brazil. We currently have 100 plants in
operation, with 44.6 gigawatts (GW) of installed capacity,
accounting for 22% of national capacity. We also operate
73.8 thousand kilometers of transmission lines, which
accounts for 37%* of the National Grid. GRI 2-1, 2-6
Of the total energy generated by the
company, 96.5% comes from low-
greenhouse gas emission sources
(hydro, wind and solar), which
contributes to the national energy
matrix being one of the cleanest in
the world.
We also operate in the energy efficiency and
commercialization segments. In 2023, we reinforced our
operations in this segment, through the centralization and
structuring of businesses (learn more on page 77). GRI 2-6
We were created in 1962 as a public company, and in
2022, we completed our capitalization process, reducing
the Federal Union’s participation in our shareholding
composition from 69% to approximately 43%. In this
way, the government is no longer the controller and we
became a privately controlled company. We are publicly
traded and shares are traded on the São Paulo (B3) and
New York (NYSE) stock exchanges.
We operate throughout the national territory through
generation and transmission operations of the companies
Eletrobras CGT Eletrosul, Chesf, Eletronorte and Furnas. In
addition to these, we control a holding company, Eletrobras
Eletropar, which operates in the financial sector.
We also control six Special Purpose Entities (SPEs), and
have interests in another 63, through which we operate in
transmission and generation projects.
In addition to the Brazilian operation, we have interests
in Uruguay through our participation in SPE Rouar S.A., in
partnership with the Uruguayan state-owned company
Administración Nacional de Usinas y Transmisiones
Eléctricas (UTE), operating a wind farm in the Department
of Colônia.
*Compared to data from the National Interconnected System (SIN) in
November 2023.
Profile
Transmission line maintenance
- Furnas Collection
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20
» Profile
» Transformation Journey
» Strategic Planning
» Sustainability Management
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
44,654.5 MW
of installed capacity
22%
of Brazil’s total 199,325 MW
37% of the total transmission lines in Brazil**
Wind
Thermal
Hydroelectric
Solar
Shared Service Center
Marketing Office
Headquarters
Generation
Transmission
100 plants in operation, of which:
•
47 hydroelectric;
•
43 wind;
•
9 thermoelectric;
•
1 solar.
44,654.5 MW of installed capacity, of which:
•
67% corporate ventures and shared ownership*;
•
33% in SPEs.
146,946.6 GWh generated, of which:
•
95% hydro;
•
1,5% wind;
•
<1% solar;
•
3,5% thermoelectric.
73,788 km of lines at all voltage levels, of which:
•
66,539 km of corporate lines;
•
7,249 km of participation in SPEs.
Geographic
Distribution
Distribution of
corporate assetss
*Serra da Mesa HPP, Manso HPP and Governandor Jayme Canet Junior HPP (formerly Mauá HPP).
** Compared to data from the National Interconnected System (SIN) for November 2023.
ANNUAL REPORT
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» Profile
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Purpose and Values GRI 2-23
Caring for the planet, delivering
the energy we believe in
VALUES
PURPOSE
Our commitment is to
life and the environment.
When it comes to safety,
health and physical
integrity, we prioritize
the entire accident
prevention cycle and
spare no effort or
resources to take care of
our assets.
Always learn and teach:
knowledge is the basis for
our people. We create an
attractive environment, with
opportunities for learning,
teaching, development and
collaboration. All of our
people are treated fairly
and respectfully. Inclusion
and psychological safety
underpin our daily lives.
Trust and integrity are the
basis of our relationships,
inside and outside
the company. Ethics,
transparency and respect
generate solidity and
guide our interactions and
attitudes that perpetuate
in our business.
We are entrepreneurs
and we dare to build the
future, taking risks and
learning quickly, focused
on strategy. We value and
encourage knowledge, being
protagonists in the current
and future needs of our
customers, which inspire us
to always innovate.
We humbly pursue
excellence in everything
we do and are committed
to company-wide impact.
Collective and individual
results are recognized,
rewarded with meritocracy
and celebrated with
enthusiasm.
Life first
Integrity
always
Our energy comes
from people
Innovate to
generate value
Our excellence
makes the
difference
ANNUAL REPORT
2023
» Profile
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22
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
In January 2023, Eletrobras shareholders decided, at a
General Meeting, to incorporate the total shares of the
subsidiaries Eletrobras Chesf, CGT Eletrosul, Furnas and
Eletronorte, with the purpose of becoming the companies’
sole shareholder. As a result, we ended the year with 100%
of the operating subsidiaries’ shares. GRI 2-1, 2-2
In January 2024, we concluded the extraordinary general
meeting that had started on December 29, 2023, in which
Eletrobras’ shareholders approved the incorporation
of Furnas, aiming to rationalize structures, people and
businesses. Completion of the process is subject to
obtaining ANEEL’s consent.
Furthermore, we hold 83.71% of Eletrobras Eletropar
shares, a company with shares in the capital of
Transmissora Aliança de Energia Elétrica (Taesa), Empresa
Metropolitana de Águas e Energia (Emae) and Companhia
de Transmissão de Energia Elétrica Paulista (CTEEP),
all public electricity service concessionaires. It also has
shares in Eletronet S.A., a company that operates in the
transport of information signals and the provision of
telecommunications services. GRI 2-6
The Eletrobras Group GRI 2-1, 2-2, 2-6
Generation and Transmission
Eletrobras
Eletronorte
Eletrobras CGT
Eletrosul
Eletrobras
Chesf
Eletrobras
Furnas
Eletrobras
Eletropar
Shares
100%
of shares
100%
of shares
100%
of shares
100%
of shares
83.71%
of shares
In 2023, we focused on reorganizing our
participation in SPEs, with the aim of optimizing
costs, simplifying the corporate structure and
rationalizing our asset portfolio.
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Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
By the end of the year, we had interests in 69 SPEs in Brazil,
52 of which were generation (39 wind farms) and 16 were
transmission. By the end of 2022, we had interests in 73
SPEs. Five years ago, in 2018, there were 172.
Some of the main movements carried out in the year
were: GRI 2-6
» In March, Eletrobras Furnas acquired the shares held
by Cemig GT in SPE Madeira Energia S/A (MESA). The
company is the sole shareholder of Santo Antônio
Energia S/A (SAESA), which operates the Santo
Antônio hydroelectric plant, located on the Madeira
River. With the completion of the acquisition, we now
indirectly hold a 99.7% interest in the share capital of
MESA/SAESA.
» Following an agreement signed with Neoenergia
S.A., Eletrobras Eletronorte received 50.56% of
the shares previously held by the company in Teles
Pires Participações S.A, in addition to 0.9% of the
shares in Companhia Hidrelétrica Teles Pires. Upon
completion of the transaction, we now own 100% of
the operation of the Teles Pires Hydroelectric Plant.
» As part of the negotiation, Eletrobras Eletronorte
transferred 49% of the shares of the Dardanelos
Hydroelectric Plant (EAPSA), resulting in the complete
transfer of its shares in the company.
» In June, Eletrobras Furnas won Lot 4 in a Transmission
Auction promoted by ANEEL including licensing,
construction and operation. The auction provides for
a 30-year concession over a 303-kilometer stretch,
with an annual RAP of R$68.70 million and capex of
R$787 million. To implement this concession, Furnas
created SPE Nova Era Janapú.
» In July, we closed the activities of SPE Geradora Eólica
Ventos de Angelim S.A. We then met all the necessary
conditions to complete the sale of 100% of the capital
of SPE Livramento Holding S.A. and its four SPEs.
To complete the transaction, we carried out a
corporate restructuring that resulted in the separation
of SPE Eólica Ibirapuitã S.A., which will continue to
operate in our portfolio.
» During the year, we announced the sale of our stakes
in the companies COPEL, Energisa S-SE and Energisa-
MT. With these operations, we reduced to 19 the
number of minority shareholdings in related and
invested companies.
» In a transaction carried out in two stages, we started
controlling 100% of HPP Baguari, located in Rio
Doce, Minas Gerais. In the first stage, Eletrobras
Furnas acquired the shares held by Cemig GT in
the companies Retiro Baixo, now holding 100% of
the company’s shares, and Baguari Energia, which
became a full subsidiary of the company. In the
second stage, in October, Baguari Energia acquired
the company Baguari I from Neoenergia S.A., gaining
full control of the hydroelectric plant.
As a result of these restructurings,
by the end of the year, we gained
control of six SPEs: MESA, Brasil
Ventos, Baguari, Retiro Baixo, Teles
Pires and Eólica Ibirapuitã.
ANNUAL REPORT
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» Profile
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Eletrobrasilidade
Launched in May and disclosed on national
television, the campaign focused on showing
how the energy generated and transmitted by
Eletrobras is present in the daily lives of Brazilians
who, in turn, also produce a special energy:
Eletrobrasilidade.
The pieces highlighted the diversity and scope of
this energy in various daily situations, reinforcing
that we preserve our Brazilian essence, acting in
favor of the population.
The campaign was divided into a series of special
actions to give visibility to the business’s main
initiatives, such as the production of green
hydrogen and investments in projects for the
decarbonization of the Amazon and the recovery
of Brazilian river basins.
The initiative also involved a communication effort
with the internal audience, aiming to engage
and strengthen the feeling of belonging of these
professionals, by demonstrating how their work
directly connects with Brazilians’ lives.
The energy that moves and transforms us.
25
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
» Compulsory loan
(signed agreements,
discount)
» Tax optimization
and debt profile
» People coming
in and out
» Supplies: savings
generated in
opex and capex
» Status of top-
level framework
implementation
» Implementation of
the organizational
structure
» Monitoring the
number of SPEs
» Marketing (volume,
price, revenue)
E - Strategy
finan. e advisory
D – Cost and expense
optimization
B - Business
TRANSFORMATION OFFICE
A - Strategies and Targets
Review Eletrobras strategy
The five pillars for Eletrobras’ transformation
Transformation Journey
As part of our restructuring process and with the aim
of preparing Eletrobras for the future, in September
2022, we installed a Transformation Management Office
(TMO), a team responsible for centralizing management
and monitoring our transformation initiatives.
Its action is transversal and takes place through the
management of different work fronts, promoting speed
and efficiency in executions. The team is led by a Chief
Transformation Officer (CTO), who reports directly to the
Chief Executive Officer (CEO).
By the end of 2023, 75 structured plans had been
launched and 43 had been completed, divided into five
pillars. Over 400 people from all levels of the organization
were directly involved in the projects execution.
More than 35 forums were held with the Executive Board,
Committees and Board of Directors, ensuring alignment
with senior leadership and visibility to the topic.
C-Transformation
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Highlights of the transformation journey
New
organization,
designed and
implemented
at all levels,
with appointed
senior
leadership
(page 42)
Conversion of
companies into
wholly owned
subsidiaries
(page 23)
Work as an
energy trading
agent (page 77)
Governance
and valuation
of Eletrobras’
innovation
portfolio
(page 80)
New
governance
and action plan
for accident
prevention
(page 108)
Launch of the
new compliance
program
(page 51)
Approval and
launch of new
corporate
policies
(page 40)
Launch and
execution of
the 1st and
2nd phases of
the Voluntary
Severance Plan
(page 93)
Foz do Chapecó Hydroelectric Power Station - Eletrobras Collection
27
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Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
After Eletrobras companies’ capitalization process, in
2022, we realized that our new operating scenario as
a private company presented different expectations,
risks and opportunities, bringing the need for an
immediate review of our current strategic plan.
Therefore, in 2023, we prepared the 2023-2027
Strategic Plan, valid throughout the year.
The document unifies developments from
the previous Plan, such as the Business and
Management Master Plan (PDNG) and the Business
and Management Plan (PNG), aiming to ensure
simplification and greater integration between
all Eletrobras companies. It also establishes a
reduced evaluation horizon, aiming for greater
assertiveness in value creation.
In the process of developing the business strategy,
we took into account six major trends that impact the
electricity sector in Brazil and around the world:
» Decarbonization and valorization of the ESG Agenda;
» New technologies and electrification;
» Consumer empowering;
» Energy safety;
» Incentives and subsidies;
» Digitalization of the operation.
In line with the changes observed in the world and the
need for immediate actions, the 2023-2027 Strategic
Plan defined a new ambition for Eletrobras, seeking
to reinforce its positioning as a Green Major. In this
sense, it puts value creation as its central objective,
with sustainability at its core, and establishes four
guidelines that will guide business development over
the coming years. All guidelines include ESG aspects in
a transversal way, impacting the business as a whole.
Discover our ambition and the Strategic Plan guidelines
on the next page.
Strategic Planning
28
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Guidelines that govern the long-term vision in search of value creation
Business Transformation
and Resilience
Lead the offer of quality products
and services to customers and ensure
the safety of our employees, the
environment and assets
Innovation and Technology
Seek solutions that ensure business
competitiveness, based on the digitalization
of operational and corporate processes, and
adaptability to new technologies
Sustainable
Growth
Grow in a sustainable
and renewable way in
Transmission, Generation
and Commercialization,
in new geographies,
business models and
technologys
Reference in ESG
To be a reference in the
local and international
markets in ESG practices,
leading the economy
decarbonization, seeking
excellence in corporate
governance and care with
communities
Ambition
Green
Major
Eletrobras as a
global leader in
value creation,
with renewable
and low-emission
infrastructure
and solutions
Value Creation
Maximize value generation for all stakeholders, contributing assertively to improving the
country’s business environment (sector policies and regulation).
29
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Throughout 2023, we worked on the update of the strategy for the coming years,
reinforcing our value-creating activities. Launched in 2024, the new Strategic Plan
2024-2028 reaffirmed the ambition defined in the previous plan and maintained its four
guidelines, adding seven transversal topics:
» Climate Management
» Health and Safety
» Results Maximization
» Risk Minimization
» Operational and Financial Efficiency
» Efficient Resource Allocation
» Cultural Change
To measure the reach of the strategy, top indicators and initiatives were chosen, with
targets for 2024, which are broken down into initiatives, indicators and targets for
boards, management and other professionals.
Strategic Plan 2024-2028
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Eletrobras companies’ sustainable performance can be illustrated by our Value Creation Model, which shows how the business transforms inputs into products,
generating value not only for the company, but for society, the environment and our stakeholders.
Stakeholders
VALUE GENERATION MODEL
Value Generation Model
Purpose
Value creation
Business inputs
»
Plants
»
Transmission lines
»
Equipment
»
Offices
»
Reliability in receipt
»
Improvement in the country’s
infrastructure
»
Safety and reliability in operation
»
Financial resources
»
Revenue
»
Investimentos
»
Professional growth/training
»
Recruitment predictability
»
Diversity promotion
»
Health and safety promotion
»
Quality of life
»
Ethical, transparent and equal
relationship
»
More than 8.3 thousand
professionals
»
New hiring process
»
Distribution of dividends
»
Financial return on invested capital
»
Dedicated R&D team
»
Structured innovation process
»
Pesquisa, desenvolvimento e inovação
»
Structured community
relationship process
»
271 customers
»
Government relations
Maximize value generation for all stakeholders,
contributing assertively to improving the
country’s business environment (sector policies
and regulations)
Taking care of the planet, delivering the
energy we believe in.
»
Supplier training
»
Fair price (sustainable) hiring
»
Contribution to sustainable
development
»
Participatory dialogue
»
Availability of energy for
everyone, with lower risk of
socio-environmental impact
»
Fostering a more sustainable
supply chain
»
Fostering respect for human
rights
»
Job and income generation
»
Integrity (ethical, legal and
transparent conduct)
»
Private social investment
»
Improvement of the living
conditions of affected
populations
»
Affordable energy
»
Partnership in public policy
management
»
Participation in structuring
projects
»
Enhancement of brand and
business reputation
»
Water, wind, sun and gas used
to generate electricity
»
Water, wind, sun and gas used to
generate electricity
G
E
N
E
R
A
T
E
D
A
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D
T
R
A
N
S
M
IT
T
E
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R
G
Y,
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O
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S,
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V
I
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E
S
A
N
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P
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O
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S
G
E
N
E
R
A
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I
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N
,
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A
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,
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E
TI
N
G
,
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E
R
B
U
S
I
N
E
S
S
E
S
Value Creation Model
NATURAL
CAPITAL
NATURAL
CAPITAL
INTELLECTUAL
CAPITAL
INTELLECTUAL
CAPITAL
FINANCIAL
CAPITAL
FINANCIAL
CAPITAL
MANUFACTURED
CAPITAL
MANUFACTURED
CAPITAL
HUMAN
CAPITAL
HUMAN
CAPITAL
SOCIAL
CAPITAL
SOCIAL
CAPITAL
»
Investors, shareholders and market analysts
»
Government, parliamentarians and regulatory bodies
»
Society
»
Customers
»
Communities
»
Partners, sponsors and suppliers
»
Workforce and family
»
Press and opinion makers
31
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
We hold a prominent position among the world leaders
in the production of clean and renewable energy.
Aware of our potential to generate value for society
and the environment, we seek to guide our business
through internationally recognized management
practices, enhancing our positive impacts and
minimizing negative ones.
In line with the company’s recent
transformations, in 2023, we
created a Sustainability Department,
subordinate to the Vice-Presidency
of Governance, Risks and Compliance
and Sustainability. GRI 2-13
Its objective is to promote sustainability management
practices, working to unfold the Strategic Plan and
generate shared value through the implementation
of sustainable management processes, procedures
and tools in Eletrobras companies. The new board will
therefore centralize the management of the topic,
supporting the definition and transmission of strategic
goals. GRI 2-13
Sustainability Management
Furthermore, the area is responsible for
representing the company in national and
international discussion forums on sustainable
development and corporate sustainability. GRI 2-13
With the creation of the Sustainability Department,
we began to house social responsibility,
environment and ESG management areas in the
same unit, with the potential to manage these
topics more effectively.
Our organizational structure also began to include
socio-environmental units in expansion and
operations, permeating the company’s processes
from project design to their decommissioning.
To advise the Board of Directors in defining
the sustainability strategy, we have a Strategy,
Governance and Sustainability Committee (learn
more about its activities on page 44). The body meets
monthly to discuss and issue recommendations
on the company’s strategic planning, guidelines,
objectives, indicators and targets. GRI 2-12
In order to continually evolve our management, we
monitor the main sustainability practices through
external, national and international assessments,
rating agencies and demands from our stakeholders.
The objective is to support the development of
sustainability programs to address the main gaps
and opportunities for improvement found.
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Our Sustainability Management System is based on five elements:
Eletrobras sustainability management system
VALUE CREATION
MODEL
INTEGRATED
REPORT
RISCK
MANAGEMENT
Integrated risk management aims to
reduce the materialization of events
that could impact our strategic
objectives, in order to preserve and
generate shared value. ESG risks in
our matrix include human rights,
biodiversity and climate risks.
Learn more on page 61.
It shows how the vision of sustainability is
present throughout our business model,
with initiatives aligned to generating
value in environmental, social and
governance aspects.
Currently, our model brings together
30 value generation expectations related
to our stakeholders.
Learn more on page 31.
We adopt the Integrated Reporting
approach for the publication of our
Annual Reports, presenting information
on tangible and intangible aspects of
the financial, manufactured, intellectual,
human, social and relationship, and natural
capitals of the business.
Annually, we also publish specific reports
on the SASB’s sectoral material topics,
the TCFD recommendations and value
generation in the SDGs.
SISTEMA IGS
Our strategic tool for managing
sustainability indicators includes
hundreds of indicators, covering topics
such as water consumption, energy,
waste, biodiversity, voluntary actions
and compliance.
Learn more about the IGS on page 135.
The Sustainability Policy establishes our
guidelines for corporate sustainability, seeking
to ensure business continuity and contribute to
sustainable development, enhancing positive
impacts and minimizing negative ones. We also
have the Code of Conduct and Environmental,
Social Responsibility and Occupational Health
and Safety Policies, all approved by the
Board of Directors, governing the topic.
GRI 2-23, 2-25
SUSTAINABILITY
SYSTEM POLICIES
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Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Gaia Plan
In line with the company’s transformation
process and the new challenges of the
sustainability agenda, during 2023, we revisited
our ESG priorities, based on the Strategic Plan
and stakeholder demands.
Thus, we created the new
Gaia ESG Action Plan, made
up of strategic and tactical
initiatives, which address
the main business topics,
mapped in our processes
against market references.
The plan replaces the Sustainability 4.0
Program, which, until 2022, included
our priority sustainability projects. Its
objective is to fulfill our strategic guideline
of being a reference in ESG, with an
execution deadline until November 2027.
Sustainability Pathway
The Sustainability Pathway is our corporate education
program dedicated to training and developing
responsible socio-environmental skills, abilities
and attitudes among our employees. Its purpose
is to reinforce ESG aspects in our internal culture,
demonstrating to the team the connection between
the company’s operations and the global sustainable
development agenda.
The training includes topics such as integrity and
ethical culture, privacy, diversity and inclusion, moral
and sexual harassment, environmental policy, energy
efficiency, human rights, climate change and sustainable
supplier management. Furthermore, since 2022, we have
entered into a partnership that included courses on the
Academy platform, from the UN Global Compact, in the
Sustainability Pathway.
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5. Planet
6. Appendices
ESG aspects in variable remuneration
Variable remuneration is an effective instrument to increase the engagement of the
entire team towards our strategic objectives, including sustainability. Therefore, for the
seventh year in a row, we associated ESG targets with the variable remuneration of our
directors, managers and employees, including issues such as decarbonization, health
and safety and social actions.
On average, socio-environmental issues account
for a totoal of 27.5% of the total short-term
incentive.
Below, we present some of the socio-environmental initiatives and indicators
considered in variable remuneration:
» Frequency of accidents;
» Greenhouse gas emissions per GWh of energy generated;
» Implementation of actions to consolidate a zero-accident culture;
» Net zero trajectory;
» Implement short-term social actions;
» Divestments in thermal plants;
» Supplier Life Cycle in the company’s portfolio;
» Diversity (Demographic Census).
Maintenance on tower of the
Atlântida 2 Transmission Line
- Gravatai 3 - Photo: Marcelo
Camargo Constante
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3. Prosperity
4. People
5. Planet
6. Appendices
Agenda 2030
The Sustainable Development Goals (SDGs) are 17
objectives that make up the 2030 Agenda, defined by
the United Nations (UN) with the purpose of engaging
organizations around the world in overcoming the main
challenges of development and sustainability. Covering a
wide range of topics, such as eradicating poverty, fighting
climate change and preserving natural resources, the
SDGs connect business strategy with the global agenda.
In the introduction to each chapter, we present the main
SDGs impacted by the actions described in its content.
We currently define nine SDGs as priorities for our
business (see the image below).
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6. Appendices
Commitments GRI 2-25
We have adopted several commitments and agreements that establish institutional guidelines for our sustainability approach. GRI 2-23
Among the commitments undertaken, the following stand out:
» 100% Transparency Movement, of the Global Compact;
» Stakeholder Capitalism Metrics, led by the World Economic Forum;
» Gender and Race Pro-Equity Program, from the Ministry of Women,
in partnership with the Ministry of Racial Equality;
» Elas Lideram Movement, of the Global Compact;
» UN Women’s Women’s Empowerment Principles;
» Declaration of Corporate Commitment to Fight Sexual Violence against Children and
Adolescents, from the Human Rights Secretariat of the Presidency of the Republic;
» National Pact for the Productive Inclusion of Youth, of the Global Compact;
» Companies for Human Rights Open Letter, from the Federal Government
» NetZero Ambition Movement, from the Global Compact;
» Position Paper on Carbon Pricing Mechanisms within
the Business for Climate Initiative (IEC)
» Position Paper of the Brazilian business sector on the urgency of
creating a regulated carbon market in Brazil, from the Brazilian
Business Council for Sustainable Development (CEBDS)
» Task Force on Climate-Related Financial Disclosures (learn more on page 144);
» Action for Nature Platform, from CEBDS;
» Call to Action, from Business for Nature;
» Brazilian Business Commitment to Water Security, from CEBDS,
» Amazon Impact Movement, from the Global Compact;
» Kunming-Montreal Global Biodiversity Agreement;
» Letter from the Brazilian business sector about the Ecological
Transition Plan – ‘Green Package’, from CEBDS;
» Letter from the Brazilian business sector on biodiversity, from CEBDS;
» Statement from the Brazilian Business Sector on the National
Strategy and Action Plan for Biodiversity, from CEBDS;
» Taskforce on Nature-Related Financial Disclosures (learn more on page 159).
Additionally, in 2023, we began submitting our commitment to the Science
Based Targets Initiative to be net zero by 2030 (learn more on page 156).
To learn more about our Public
Commitments, access our website.
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Awards and recognition
During 2023, we received the following awards and recognitions:
ISE B3 2024
Inclusion in the ISE
B3 2024 portfolio
for the 17th time
GLOBAL SUSTAINABILITY AWARD
For the 3rd year, we received the Bronze
Seal in the Standard & Poor’s award,
organizer of the Dow Jones Sustainability
Index, now appearing in the “The
Sustainability Yearbook 2023” ranking.
INSTITUTIONAL INVESTOR
1st place Overall in ESG
practices in Latin America
in the “Electric & Other
Utilities” sector
INTERNATIONAL PROJECT
MANAGEMENT AWARD
from the PMOGA World
Unconference. Eletrobras’ PMO
was among the two best PMOs
in the Americas and among the
seven best PMOs in the world
CDP SUPPLIER ENGAGEMENT
LEADER 2022
for actions to mitigate climate
risk in the supply chain
LATIN AMERICA
EXECUTIVE TEAM
Eletrobras executives
in 19 award categories
ETHNIC-RACIAL
DIVERSITY SEAL
from Salvador
City Hall
ANEFAC 2023
TRANSPARENCY TROPHY
from the National Association
of Executives, in recognition
of transparency practices in
accounting information
COMPANIES THAT
BEST COMMUNICATE
WITH JOURNALISTS
from the Communication
Business Platform
AMONG THE 150
MOST INNOVATIVE
COMPANIES IN BRAZIL
Valor Econômico
ranking in partnership
with Strategy&
PRÓ-ÉTICA COMPANY
2022-2023
from of the Brazilian Office of
the Comptroller General (CGU),
for Eletrobras holding, Furnas,
Chesf and Eletronorte
100% TRANSPARENCY MOVEMENT
GOOD PRACTICES AWARD
from the Global Compact,
through the practice of Critical
Supplier Awareness
FIRST IDIVERSA B3 PORTFOLIO
Inclusion in the B3 diversity index,
focusing on gender and race
GENDER-EQUALITY
INDEX 2023
Inclusion in the Bloomberg
Gender Equality Index
Click here to find out more details about
our Awards and Recognitions.
MERCO RANKING
Company with the
best reputation in the
Brazilian electrical sector
BRAZILIAN GHG PROTOCOL
PROGRAM GOLD SEAL
Attests to the qualification of
the Greenhouse Gas Emissions
Inventory of Eletrobras
Companies - base year 2022.
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5. Planet
6. Appendices
Governance
CHAPTER 2
SDGs
CAPITALS
Edifício Barão de Mauá II - Acervo Eletrobras
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2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Corporate Governance
Since 2022, Eletrobras has been a private company,
with no defined controller. As a publicly traded
company, our shares are traded on the São Paulo
(B3), Madrid (LATIBEX) and New York (NYSE) stock
exchanges, registered with the Securities and Exchange
Commission of Brazil (CVM) and Securities and
Exchange Commission (SEC) .
As a result of the capitalization process, the Union
and other entities that make up the group of public
shareholders hold 42.76% of the company’s shares, with
limitations on the exercise of political power and voting
rights of up to 10% of the share capital of ordinary shares.
The backbone of our governance structure is ethics,
equity, sustainability and responsibility. We comply with
all national legislation for operating in the power sector,
with an emphasis on the regulations of the Ministry of
Mining and Energy (MME), the Ministry of Environment
and Climate Change (MMA) and the Brazilian Electricity
Regulatory Agency (ANEEL).
With capitalization, the company entered into an extensive
work to review policies, standards and governance
guidelines, aiming to implement instruments for
the its new way of operating, in line with the cultural
transformations brought by capitalization. In 2022, the
process also included the approval of a broad statutory
reform, new general corporate governance guidelines and
a new management remuneration model.
In January 2023, the Extraordinary General Meeting
approved the incorporation of the shares of our four
generation and transmission operating subsidiaries,
transforming them into wholly-owned subsidiaries (find
out the complete structure on page 23). In April, the
Board of Directors approved the reformulation of the
governance systems of these wholly-owned subsidiaries
and the adoption of the integrated management model,
simplifying the decision-making flow and concentrating
strategic processes in the holding company.
Meanwhile, we carried out a series of recruitment
processes that made it possible to attract qualified
executives, who became part of the new group of
managers of Eletrobras companies, already considering
a remuneration structure aligned to companies of
similar size and complexity, in line with the Brazilian
and global capital markets, prioritizing long-term value
generation and alignment of management’s interests
with shareholders.
In this context, we established a more robust
executive structure for Eletrobras, aligned with the
new challenges and responsibilities, consisting of a
Chairman and eleven Officers. Our objective was to
improve decision-making and speed up transformation
in specific areas, such as people, business, supplies
and technology. Accordingly, we have simplified
management positions in wholly-owned subsidiaries,
in light of the operational focus of these companies
(learn more on page 45).
In this context, we reviewed and approved relevant
policies for the proper functioning of our corporate
governance system, such as the Compliance, Related
Party Transactions and Conflict Management,
Management Remuneration, Indemnity and
Nomination Policies.
Finally, we ended the year with the call for an
Extraordinary General Meeting to deliberate on
the incorporation of Furnas. This deliberation was
approved by shareholders in January 2024.
Click here to access Eletrobras companies’ Bylaws.
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5. Planet
6. Appendices
Our corporate governance structure is made up of the General Shareholders’ Meeting, the Oversight Board, the
Board of Directors and the Executive Board. Linked to the Board of Directors are the Internal Audit and Advisory
Committees.GRI 2-9
Governance Structure
General Meeting GRI 2-9
The General Meeting is the company’s highest body,
made up of its shareholders. It is through the meeting
that shareholders deliberate on the most important
matters for the future of the business, in line with the
responsibilities set forth by law and the Bylaws. GRI 2-9
Subjects under its responsibility include deliberations
on the election and dismissal of Board of Directors
and the Oversight Council members, management
accountability and approval of financial statements
and proposals for income allocation and overall
managers remuneration. GRI 2-9
The General Meeting is held annually, in the cases
provided for by law or whenever the Board of Directors
deems it convenient. GRI 2-9
Strategy, Governance &
Sustainability Committee
Internal Audit
Governance Office
Corporate Governance
Risk and Audit Committee
People Committee
Legal Affairs Support
Committee
Board of Directors
Chief Executive Officer
Oversight Board
General Meeting
Vice-Presidency
of Operations
and Safety
Vice-Presidency
of Expansion and
Engineering
Vice-Presidency
of Commer-
cialization and
Energy Solutions
Vice-Presidency
of Regulation
and Institutional
Relations
Vice-Presidency
of Financial
and Investor
Relations
Vice-Presidency
of Governance,
Risks,
Compliance and
Sustainability
Vice-Presidency
of Supplies and
Services
Vice-Presidency
of People,
Management
and Culture
Legal Vice-
Presidency
Vice-Presidency
of Innovation,
R&D, Digital
and IT
Vice-Presidency
of Strategy
and Business
Development
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5. Planet
6. Appendices
The Board of Directors is responsible for defining the
general driving of the company’s business, establising
its strategic direction, ensuring the proper functioning
of corporate governance systems, risk management and
internal controls, and preserving the orderly management
succession, with a focus on the company’s long term
interests, its perpetuity and sustainable value generation.
GRI 2-9, 2-10
Eletrobras’ Bylaws and Nomination Policy detail all
criteria, legal requirements, roles and responsibilities
related to the nomination of Board of Directors
members, in addition to establishing diversity as
one of the nomination criteria, in order to reach
complementary experiences, qualifications and
professional specializations. GRI 2-10
Candidates must also have the minimum qualification,
in accordance with applicable legislation, knowledge of
the business environment and the company’s objectives,
analytical capacity and strategic alignment of the
organization, remarkable knowledge and experience,
among other factors compatible with the position. The
board’s performance must be independent and dedicate
sufficient time to carry out activities, which go beyond
Board of Directors
Sede da Eletrobras CGTEletrosul - Acervo Eletrobras
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5. Planet
6. Appendices
participation in meetings, and rely on prior preparation
and deepening of the company’s challenges and strategy,
strengthening its ability to supervise the business. GRI 2-10
The body is made up of nine members, elected at the
General Meeting, with no deputies, with an unified
two-year term of office, re-election permitted. The
election process takes place as follows: one member is
elected in a vote separately by preferred shareholders
and eight are elected by common shareholders. GRI 2-10
According to the Bylaws, the Board of Directors is
composed of at least five independent members.
Currently, six (67%) are considered independent,
according to Novo Mercado criteria. GRI 2-10
Considering the independence
criteria defined by the S&P Global
Dow Jones Sustainability Index (DJSI),
seven (78%) are independent.
The Board of Directors meets monthly, and
extraordinarily, whenever necessary. Up to two
absences in a row or three absences interspersed
throughout the year are permitted for each member,
which represents a minimum required attendance
of 75%, unless there is a justified reason or a leave
granted by the Board of Directors. In 2023, the body
held 12 ordinary meetings, as well as extraordinary
meetings whenever necessary, with a 98.79% average
attendance of members.
The body plays a fundamental role in driving our
business strategy. Annually, it works to prepare the
company’s Strategic Plan, defining the purpose,
guidelines and strategic objectives for the next
five years (learn more on page 28), as well as the
corporate identity that derives from the process (learn
more on page 22). GRI 2-12
With support from the Strategy, Governance
and Sustainability Committee (CEGS), the body
follows and monitors the execution of the strategy,
evaluating the results against strategic targets. This
performance serves as the basis for decision-making
regarding maintaining the strategy or changing
trajectory, always aiming to maximize value for our
business and shareholders. GRI 2-12
Click here to learn about the composition
of Eletrobras’ governance bodies.
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2. Governance
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4. People
5. Planet
6. Appendices
Oversight Board
The Oversight Board is the body that oversees
managers’ actions and the budgetary, financial and
asset management of Eletrobras, reporting directly to
the General Meeting. Operating on a non-permanent
basis, the body is made up of three to five effective
members and an equal number of alternates, elected by
the General Meeting, with a term of office regulated by
law. GRI 2-9, 2-10
Committees
The Board of Directors is continuously supported by four
advisory Committees, with specific duties to analyze and
recommend on certain matters, with the aim of assisting
the board in strategic matters, in order to ensure that
the decision to be taken by senior management is
technically based. GRI 2-9, 2-13
Statutory advisory committees are made up of three
to five effective members, who may be board members
or external members, always elected by the Board of
Directors. GRI 2-10
The mandate of the Audit and Risk Committee
members is independent of the mandate of the Board
of Directors. The management terms for members of
other committees are linked to the mandate of the
Board of Directors, with the exception of independent
external members, who have a specific management
term, as provided for in their acts of election and terms
of office. GRI 2-9, 2-10
Risk and Audit Committee
Advises the Board of Directors on topics related to
accounting practices, internal controls and risks,
litigation, liabilities, compliance, internal audit and
independent audit. GRI 2-9, 2-13
Strategy, Governance & Sustainability
Committee
Advises the Board of Directors on strategic matters
and on the definition of actions focused on corporate
sustainability, in addition to monitoring performance
through indicators that are part of our sustainability
platform. GRI 2-9, 2-12
People Committee
Advises the Board of Directors on matters relating to
succession, remuneration, people management, skills
development and careers of our employees. GRI 2-9, 2-13
Legal Affairs Support Committee
Advises the Board of Directors by monitoring relevant
litigation and judicial and extrajudicial agreements and
other important legal topics. GRI 2-13
Internal Audit
Linked to the Board of Directors, Internal Audit aims to
increase organizational value by providing independent
assessment, advice and knowledge for the effective
management of risks and controls. GRI 2-9
Its role is to evaluate the effectiveness of the company’s
processes, by testing internal controls, evaluating
compliance and effectiveness of internal and external
standards and carrying out operational, management,
quality, process, products and other special audit work
that may be demanded by the Board. GRI 2-9
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5. Planet
6. Appendices
The Executive Board is the executive body for business management and
representation of Eletrobras. It has a collegiate nature, and is responsible for
acting in accordance with the mission, objectives, strategies and guidelines set by
the Board of Directors, guiding its decisions in accordance with the risk appetite
statement approved by the Board. GRI 2-9
The Bylaws authorize a maximum limit of 16 members for the Executive Board,
with up to 15 Executive Officers and the Chairman, all elected by the Board of
Directors. Currently, it is made up of the CEO, Ivan de Souza Monteiro, and 11
Vice-Presidents: GRI 2-9
» Vice-Presidency of Governance, Risks, Compliance and Sustainability;
» Vice-Presidency of Finance and Investor Relations;
» Vice-Presidency of Engineering and Expansion;
» Vice-Presidency of Regulation and Institutional Relations;
» Vice-Presidency of Strategy and Business Development;
» Vice-Presidency of People, Management and Culture;
» Vice-Presidency of Commercialization and Energy Solutions;
» Vice-Presidency of Innovation, R&D, Digital and IT;
» Vice-Presidency of Operations and Safetu;
» Vice-Presidency of Supplies and Services;
» Legal Vice-Presidency.
Governance in subsidiary companies
Following the corporate restructuring that guaranteed Eletrobras
100% of the shareholding in the operating subsidiaries (learn
more on page 23), we made significant changes to the corporate
governance, management model and organizational structure of
these companies. GRI 2-9
We began to centralize the main strategic decisions and carry out
integrated management of companies, with the unification of
structures and reporting lines, elimination of redundancies and
inefficiencies, and exploration of synergistic gains, standardizing
processes and routines that until then were carried out in a independent
and decentralized way. These measures also made it possible to review
the scope of activity of subsidiaries’ executives, who began to dedicate
themselves to the operational aspects of the companies. GRI 2-9
Thus, Eletrobras Eletronorte, CGT Eletrosul, Chesf and Furnas now
have a board of directors structured as follows: Chief Executive
Officer, Chief Operation and Maintenance Officer and Chief
Administrative-Financial Officer. Eletrobras Chesf maintained its
own Board of Directors throughout 2023. GRI 2-9
Find out about the complete governance structure of subsidiary
companies in our GRI Indicator Booklet.
Executive Board
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The Board of Directors evaluates the individual and
collective performance of its members in an annual basis,
in addition to evaluating the collective performance of
its Advisory Committees, with the support of the People
Committee. Based on the results, a development plan is
created for the Board, aiming for continuous improvement
and focused on the evolution of our governance. GRI 2-18
In the second half of 2023, the current composition of the
Board of Directors participated in its first performance
assessment process within the context of a private
company, with the support of independent external
consultancy. The evaluation methodology for the 2023
cycle included the following parameters: GRI 2-18
» Structure and Organization
» Communication and Information Flow with CEO and
Board
» Strategy, Results and Risk Management
» Succession and Development
» Role of the Board Chairman
» Committees
» Board culture
» Market Benchmark
» Committee Effectiveness
» Individual Contribution of Board Members
The process included the evaluation of the bodies
as collegiate bodies, individual self-assessment of
board members, and the evaluation by their peers,
considering aspects such as the contribution made to
the discussions and functioning of the collegiate body,
effective participation and engagement, skills applied in
practice and personal profile. The Board’s assessment
also included the qualitative perceptions of Executive
Board members who had at least 6 months of experience
and familiarity with the current composition of the Board,
through interviews. GRI 2-18
The consolidated results of the assessments were brought
to the attention of the Board of Directors, while individual
results were shared with the Chairman of the Board of
Directors and the coordinator of the People Committee for
subsequent feedback to each member. GRI 2-18
In addition to the performance assessment, the Board
of Directors is in the process of designing and validating
its competency matrix, which will include the board’s
and stakeholder’s vision regarding the qualifications,
experiences and skills relevant to a balanced composition
of the body, in the current and future context of Eletrobras.
We understand that this is a relevant step towards the
consolidation of our corporation structure and the orderly
succession at the 2025 annual general meeting, an
opportunity in which shareholders will elect the members
of the Board of Directors for a new 2-year term. GRI 2-18
Board of Directors Performance Assessment
Senior Leadership Training
In 2023, with a view to expanding senior
management’s knowledge on ESG topics, training
sessions “Leadership biases and decision-making”,
“Indigenous peoples in contemporary Brazil:
rights, scenarios and challenges”, “New Views on
Socio-environmental Conflicts” and “Related Party
Transactions” were carried out. GRI 2-17
These educational actions were offered to
Eletrobras’ managers and oversight board members,
as well as to Eletrobras’ representatives on the
boards of directors of its SPEs, affiliates and other
investees.
Furthermore, senior leadership was also impacted
by the Compliance Program training (page 52).
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5. Planet
6. Appendices
The company’s Management Remuneration Model
aims to consolidate a high-performance culture and
encourage, attract and retain talent, in a structured
manner and aligned with the company’s interests. GRI 2-19
Eletrobras Board of Directors defines, with the support
of the People Committee, the variable remuneration
programs (short- and long-term incentives) and
determines the individual amount of the fixed monthly
remuneration due to its members, members of statutory
advisory committees and members of the Executive
Board. The value is established taking into account
the responsibilities, time dedicated to the functions,
competence, professional reputation and value of the
services in the market, observing the global remuneration
limit and any action plans approved by the General
Meeting. GRI 2-19, 2-20
Incentives are made through salary surveys by
specialized companies, with annual adjustments based
on market levels, individual performance and other
factors, such as the executive’s potential, specific skills,
experience in the role and retention risks. GRI 2-19, 2-20
After capitalization, the managers’ remuneration
underwent an update and included a review of fixed
remuneration and the creation of short- and long-term
incentives, approved by the People Committee and the
Board of Directors. The process was supported by an
independent external consultancy and approved by the
General Meeting. GRI 2-20
In 2023, two new policies on the topic were approved,
which are available on our website:
» Management Remuneration Policy, specifying
executive remuneration and compensation
requirements. It includes clawback and malus clauses,
which allow the reduction, cancellation or recovery
of bonuses in the event of subsequent events that
impact the company’s market value, reputation or
equity.
» Indemnity Policy, containing detailed guidelines
on scope, coverage of indemnities, limits on the
company’s financial exposure, causes excluding
coverage and rules for dealing with potential conflicts
of interest.
Regarding Variable Remuneration, Executive Board
members are entitled to Short-Term Incentive
programs (ICP), paid through bonuses, which are based
on goals for achieving company results, with specific
indicators, in accordance with with the Strategic Plan
and conditioned on specific triggers of global reach.
As a Long-Term Incentive, the remuneration of the
Executive Board members may be based on a Stock
Options-Based Remuneration Plan. GRI 2-19
The deadline for granting the Restricted Share-Based
Remuneration Plan ended in March 2023, and it served
the purpose of enabling long-term remuneration
for Board of Directors members and the objective of
attracting and retaining executives and other talents of
the company.
Remuneration and benefits
Learn more about our remuneration
practices in item 8.1 of our Reference
Form.
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Ethics, integrity and compliance GRI 3-3
Our governance structure and the daily activities
of employees are guided by the dissemination
and experience of ethics and integrity — which
are part of Eletrobras companies’ values —,
guaranteeing a responsible and fair operation.
Effective management of ethics, integrity and
compliance-related risks promotes a corporate
environment of trust and transparency in
relationships with stakeholders, encouraging the
market and our entire value chain to adopt integrity
practices, improving the external environment.
In order to propagate this culture and ensure compliance
with laws and regulations, we have a Code of Conduct,
which was reviewed and approved by the Board of
Directors and the Executive Board in 2022. GRI 2-23
Management of this topic in Eletrobras companies
is the responsibility of the Compliance Executive
Management, subordinate to the Governance,
Risks, Compliance and Sustainability Officer.
The Board of Directors, through the Audit
and Risk Committee, oversees the topic.
CGT Eletrosul Headquarters - Photo: Mariana Eli
ANNUAL REPORT
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» Governance Structure
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» Risk Management
» Government Relations
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Eletrobras Code of Conduct
Eletrobras Code of Conduct is the guiding document
for our operations and provides for the guidelines to
be followed by all our leaders, shareholders, advisors,
managers and employees, including companies in
which we have direct and indirect corporate control.It
is also intended for all audiences who have some form
of relationship with or who represent the company.
It expresses the ethical principles and conduct
commitments for responsible business conduct. GRI 2-23
The document is disseminated internally to all
professionals at the time of their hiring, in addition to
being disseminated through special communications to
leadership and other employees and made available on
the intranet, in the internal communications application
and on a cell phone application. GRI 2-23
To attest that they have read the document, all employees
must sign the Term of Acceptance, demonstrating that
they are aware of its content and committing to follow its
guidelines and rules when carrying out their activities in
the company. GRI 2-23
Furthermore, suppliers, service providers and other
partners have specific clauses in their contracts in
which they commit to complying with the Code of
Conduct and the Compliance Program.
The Code of Conduct clearly and objectively presents
our position regarding expected and prohibited
conduct, and establishes the ethical values of our
activity: GRI 2-23, 2-24
» Human dignity and respect for people;
» Professionalism;
» Compliance;
» Integrity;
» Transparency;
» Sustainability.
The document broadens the view on the ethics and
integrity topic within an ESG perspective, aligning
conduct commitments with the sustainability
principles adopted by Eletrobras — People, Planet,
Governance and Prosperity — and with the nine
Sustainable Development Goals (learn more on page
36), prioritized by senior management.
GRI 2-23, 2-24
Four pillars that guide Eletrobras’ business
conduct
PEOPLE
» Respect people and human rights
» Value life
» Act with professionalism
» Care for the company’s image
PLANET
» Promote environmental awareness
» Reduce environmental impacts
GOVERNANCE
» Act with integrity
» Strengthen trust relationships
PROSPERITY
» Invest in value creation
» Innovate in our sector
ANNUAL REPORT
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
The commitments established in the Code of Conduct
are broken down into corporate policies, developed
and internalized by the different areas responsible
for each topic. Senior management is responsible for
approving these regulations and the respective officer is
responsible for implementating and monitoring them, as
described below: GRI 2-24
Commitments under the People pillar
Incorporated into the People Management
strategy and policies on topics such as
development, career, remuneration and benefits,
workplace safety, health and quality of life,
among others. They are also incorporated into
the Social Responsibility policy, in line with the
commitment to respect and promote human
rights.
Commitments under the Governance
pillar
Incorporated into the integrity regulations,
practices and mechanisms described in the
Compliance Policy (learn more on page 55)
and implemented by the Compliance Program
(learn more on page 51). The commitment
to strengthening trust relationships with all
stakeholders is incorporated by the areas that
deal with different stakeholders, through the
policies of each area involved.
Commitments of the Planet pillar
Incorporated into guidelines and processes
in the environmental area, through
specific guidelines for climate change,
5 Rs, biodiversity, communication and
environmental education, relationships
with indigenous communities, relocation of
affected populations and socio-patrimonial
and environmental management of reservoirs.
Commitments under the Prosperity
pillar
Incorporated into Research and Development,
Commercialization and Sustainability policies.
Click here to access Eletrobras Code of
Conduct. GRI 2-23
ANNUAL REPORT
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
New Compliance Program GRI 3-3 GRI 3-3
Eletrobras’ transition process to a private model, as well as the search
for best market practices, led to the review of our Compliance Program
in 2023. The objective was to strategically reposition the topic to our
new business model, reinforcing and implementing a set of continuous
actions that aim to prevent, identify and correct non-compliances or
illegal acts, to strengthen the culture of ethics and integrity.
To promote the team’s commitment to integrity, we began working with
each employee through compliance ambassadors, providing guidance
on corporate guidelines and tools that support each one to do their
part. In this way, we bring greater capillarity to the program, promoting
effective dissemination so that the guidelines, messages and training
reach the end (learn more on page 53).
In 2023, we created the Executive Compliance Management,
subordinate to the Governance, Risks, Compliance and Sustainability
Officer, responsible for coordinating the program. On a quarterly basis,
a report on its activities and results is presented to the Audit and Risk
Committee, which advises the Board of Directors.
Click here to learn more about the new Compliance Program.
The new Compliance Program is structured around Prevention, Detection and
Evolution commitments, and is developed across ten fronts:
ELETROBRAS
COMPLIANCE
PROGRAM
1
2
3
4
5
6
7
8
9
1
0
PR
EV
EN
TI
ON
EV
OL
UT
IO
N
D
ET
EC
TI
ON
Normative
guidelines
Weakness
Remediation
Management
of Reports,
Investigations and
Consequences
Risk
Management
Integrity culture
Third Party
Compliance
Program
governance
Leadership
engagement
Continuous
Monitoring, Review
and Update
Indicator
Intelligence and
Tools
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1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Since the launch of the new Compliance Program in
August, we have carried out a series of communication
and training actions for various audiences, aiming to
strengthen and disseminate the culture of corporate
integrity. GRI 205-2
To engage the leadership, lectures were held detailing
the Program’s new guidelines and a video was
produced with the entire Executive Board, highlighting,
for example, the leadership’s commitment to the
dissemination of good practices.
The Compliance Game was launched for the entire
team, a dynamic and practical training on the new
guidelines, with specific versions aimed at administrative
and operational audiences.
Furthermore, the Program’s partner areas
participated in compliance workshops to align
and internalize the new guidelines in all integrity
processes.
In November, we held the Compliance Week, an in-
person event with simultaneous transmission for
all areas of the company, intended to publicize the
Compliance Program to all employees, clarifying topics
such as the new structure of the program, its guidelines
and tools. During the event, Eletrobras Compliance
Program “On the Line” campaign was launched, which is
made up of a series of awareness-raising pieces.
To keep an engaged and informed team, the Program
provides regular training on its guidelines andthe Code
of Conduct. Furthermore, all new employees receive
training in these topics.
With the aim of engaging employees who wish to
contribute to the dissemination of a culture of integrity
in Eletrobras companies, in December, we launched
the Compliance Ambassadors Program. As a result,
at the beginning of 2024 we formed a group of 131
ambassadors, with participation from almost all of the
company’s units.
Communication and training GRI 3-3
Lecture during the
Compliance Week at
Eletrobras Furnas - Photo:
Claudio Ribeiro
ANNUAL REPORT
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
COMMUNICATION AND TRAINING ON ANTI-CORRUPTION POLICIES AND PROCEDURES* GRI 205-2
Corporate
governance bodies
Management-level
professionals
Employees in university-
level positions
Employees in non-
university level positions
Partnerships in SPEs
Total (members/ employees/ business partners)
46
696
3,076
4,556
70
Total informed about Eletrobras’ anti-corruption policies
and procedures
46
696
3,076
4,556
63
Percentage informed about Eletrobras’ anti-corruption
policies and procedures
100%
100%
100%
100%
90.0%
Total that received anticorruption training
42
651
2,901
4,058
-
Percentual que recebeu treinamento anticorrupção
91.3%
93.53%
94.31%
89.07%
-
EMPLOYEES WHO RECEIVED COMMUNICATION AND TRAINING ON ANTI-CORRUPTION POLICIES AND PROCEDURES BY REGION* GRI 205-2
North
Northeast
Midwest
Southeast
South
Total employees
1,000
2,503
987
2,610
1,228
Total that received anti-corruption training
903
2,273
924
2,340
1,085
Percentage that received anti-corruption training
90.30%
90.81%
93.62%
89.66%
88.36%
Workshop on Compliance -
Photo: Claudio Ribeiro
* The data includes Eletrobras Holding, Furnas, Eletrosul, Chesf and Eletronorte. The assumptions for calculating the information are presented in the Indicators Booklet.
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Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
We repudiate any form of corruption and fraud, with an
active behavior to prevent, detect and treat deviations
or non-compliances.The guidelines that guide the
topic are set out in Eletrobras Code of Conduct and
Compliance Policy, approved in August 2023 by the
company’s Board of Directors (learn more in the box on
the next page).
In 2023, following the launch of the new Compliance
Program, we created a weakness remediation
front, intended to establish specific plans to
mitigate compliance risks. Its work began with
the development of our third-party compliance
monitoring plan.
We currently carry out due diligence processes with third
parties with whom we have relationships or consider
having relationships, in order to identify potential
risks related to possible links with public agents or
involvement in practices of corruption, bribery, money
laundering, conflicts of interest, unfair competition,
slave labor and terrorist financing. GRI 205-1
Anti-corruption GRI 3-3
In 2023, the third-party integrity assessment
process was restructured, considering the necessary
improvements, as well as good practices in the market.
GRI 205-1
The due diligence begins with an analysis of the
relationship risk for each type of contract, calculated
using a form filled out by the area requesting the
contract. GRI 205-1
According to the identified risk, we carry out research
in public sources on the background of the potential
third party and its partners, judicial and administrative
processes, corporate and family relationships, focusing
on prohibiting conflicts of interest, fraud and corruption,
among other research applicable to each case. GRI 205-1
The results of this stage may also require additional
due diligence carried out by the compliance area, with
more detailed information about the company. GRI 205-1
The final integrity analysis is reflected in a Heat
Map, which highlights the main risks detected in the
analyses and establishes mitigating actions required
to initiate or maintain the relationship with the third
party. GRI 205-1
In 2023, we carried out a total of 858
integrity assessments for the following
third parties: GRI 205-1
566
51
9
2
8
6
204
6
Critical suppliers
Sponsorships
Corporate operations
Agreements
Donations
Agents
Customers
Partners
6
Others
ANNUAL REPORT
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54
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1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
During 2023, we performed 858 third-party integrity
assessments. Among these, 566 were on suppliers,
which accounted for 100% of our critical suppliers.
GRI 205-1
We also carry out integrity assessments of all
individuals appointed as governance members,
managerial roles and employees in areas most
exposed to the risk of fraud and corruption. GRI 205-3
Throughout the year, new integrity clauses
were created for contracts and specific integrity
assessment and monitoring models were also
implemented for commercialization, transmission
line auctions, new corporate operations and new
employees and leaders. GRI 205-1
We also invested in automating information and
control processes, implementing the Business
Integrity Screening (BIS) platform. Based on the
reports generated, we began to carry out real-time
analyses that signal opportunities for improvement
to strengthen the program.
As one of the Risk Management initiatives within the
Compliance Program, we reviewed our process for
identifying, categorizing, analyzing and classifying
possible fraud and corruption risk factors, carried out
using the Fraud Risk Assessment (FRA) methodology.
GRI 205-1
The review process considered changes in the
company’s external and internal contexts, which
required advances in treatments and priorities, as
well as adaptation and updating of criteria.
In the FRA review, 50 interviews were carried out
involving key representatives and managers and 74
meetings were held. As a result, risk factors related to
the categories of asset misappropriation, fraudulent
reporting and corruption were mapped, and the most
critical ones were prioritized to develop mitigation
action plans. The risks of fraud and corruption are
reflected in the Corporate Risk Matrix, especially in
the Governance dimension (learn more about our
Risk Matrix on page 61). GRI 205-1
Compliance Policy GRI 205-1
In 2023, we reviewed Eletrobras companies’
Compliance Policy, which provides for the
guidelines for our Compliance Program and
guides ethical commitments related to the
following topics: GRI 205-1
» Anti-Corruption and Anti-Bribery;
» Defense of Free Competition;
» Human rights;
» Prevention of Money Laundering and
Terrorist Financing;
» Conflicts of Interest;
» Business Courtesies;
» Interaction with the Public Sector;
» Integrity assessment and monitoring;
» Management of the Reporting Channel and
Handling of Manifestations;
» Consequence Management;
» Compliance Education and Culture; and
» Continuous monitoring and evolution.
Click here to access the Compliance Policy.
ANNUAL REPORT
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Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Eletrobras’ Bylaws and Code of Conduct, reflected in
the Compliance Policy guidelines, provide guidance
on conflicts of interest. The Board of Directors is
responsible for monitoring and managing potential
conflicts of interest of executives, Board members
and shareholders, in order to avoid misuse of the
organization’s assets, and especially abuses in
transactions between related parties. GRI 2-15
Before assuming Senior Management positions, all
individuals nominated are subjected to an integrity
analysis, through which, among other aspects, the
existence of potential or actual conflict of interests is
verified. This information is evaluated by the People
Committee, responsible for verifying compliance,
including requirements and prohibitions in the
process for nominating members to the senior
management. GRI 2-15
Through the Reference Form, we disclose the rules
for identifying and managing conflicts of interest on
an annual basis, in addition to providing individual
information on the company’s key personnel,
regarding politically exposed people, main links,
independence conditions and company’s related
parties. GRI 2-15
The Related Party Transactions and Conflict
of Interest Handling Policy, updated in August
2023, provides for the guidelines for Related
Parties Transactions (TPR) in accordance with
good corporate governance practices and in
compliance with the principles of competitiveness,
commutativity, transparency and equity, in order
to protect the legitimate interests of Eletrobras
and its interested parties. Such guidelines include
abstaining from negotiating, evaluating and
approving transactions that involve participation in
businesses that could interfere with the company’s
interests or use confidential information. GRI 2-15
In October 2023, we implemented the Compliance
Management Platform (PGC) in order to
enable our employees and leaders to carry out
consultations on Conflict of Interest situations,
as well as to enable the registration of business
courtesies and relationships with public agents.
This allows the Compliance team to properly
monitor and handle such situations, in addition to
developing communication and training actions
to prevent the risk of conflicts of interest from
materializing. GRI 2-15
Conflict of interests
Awards
For the second cycle in a row, we were
granted the “Pró-Ética” Company Seal 2022-
2023, granted by the Brazilian Office of the
Comptroller General (CGU). This recognition
attests to our commitment to implementing
integrity measures aimed at preventing,
detecting and correcting fraudulent and
corrupt practices.
ANNUAL REPORT
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Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Eletrobras has an external and independent Whistleblowing
Channel, for reporting violations of the Code of Conduct,
Compliance Program, internal policies and standards or
current legislation. The Channel can be accessed by all
audiences, 24 hours a day, seven days a week. Following the
guidelines of the Code of Conduct, we ensure the anonymity
and confidentiality of reports, in addition to non-retaliation
against the whistleblower. GRI 2-16
All reports are received by a specialized external company,
which carries out preliminary analysis to assess whether
the reports are within the scope. They are then classified
according to their risk, receiving different prioritization in
the internal investigation phase. GRI 2-26
After the investigation, infor valid or partially valid cases,
the application of consequences may be indicated,
which include administrative or disciplinary measures, or
remedial actions, such as improving existing processes and
regulations, and training. GRI 2-26
Our objective is to investigate, process and close
complaints received in less than 180 days. In 2023, we
closed 95% of reports within this deadline, exceeding
the target of 90%*. GRI 2-26
Whistleblowing Channel
In order to inform the governance bodies, the Audit and
Statutory Risks Committee receives a quarterly report
containing data on all complaints received in the period,
called One Page Report, and a qualitative report with the
complaints prioritized in the period. GRI 2-16
We guarantee protection of employees working in
all stages of reports managing and handling, in order
to preserve their institutional independence and the
neutrality of decisions.
In 2023, 345 whistleblowing reports*
were received, including:
Click here to access the Whistleblowing
Channel of Eletrobras companies.
Violations of morals, dignity and personal honor
Violations of Laws or Regulations
Violations of contracts or commercial negotiations
Health and safety incidents
Other classifications
32%
8%
11%
21%
28%
* For Teles Pires, data from October 2023 was considered. For MESA,
data from April 2023 was considered.
ANNUAL REPORT
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Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
On our website, we have a Contact Us page, which aims
to improve the management of stakeholder relationship
channels, providing greater transparency to the process.
The channel centralizes and monitors topics and the
deadline for meeting demands from external stakeholders,
in addition to enabling the identification of opportunities
for improvement in communication. GRI 2-25, 2-26
The channel responds to requests for information and
inquiries about the company’s various areas, including:
governance, commercialization, generation, transmission,
environment and eelationship with communitiess,
website support, people management, suppliers,
research, development and innovation, communication/
institutional, human rights, business strategy and stake
management, “Luz para Todos” Program, compulsory loan,
sponsorships, legal and operations abroad. GRI 2-25, 2-26
In the Contact Us page, we offer a link to access specific
contact channels, according to the audience’s needs,
such as: GRI 2-26
» Ombudsman Channel, to receive suggestions,
compliments, complaints and requests about our
operations (learn more on page 59).
» Sustainability Channel, to receive inquiries about
our sustainability guidelines, actions or indicators.
» Ombudsman, to receive inquiries related to the
capital markets.
Based on the demands received through Contact Us,
a strategic analysis of the messages is carried out,
making it possible to identify patterns, deviations and
opportunities for improvement in the stakeholder
relationship process.
Every month, we analyze the channel’s service reports. The
results are reported to the topic leaders, with information
on quantitative data and identified insights and gaps,
in addition to mitigation actions of the most relevant
demands. GRI 2-25
Contact Us
The data is consolidated on an annual basis, and
inserted into the Communication Department’s Activity
Report, for reporting to the Regulation and Institutional
Relations Department. GRI 2-25
Throughout the year, 683 inquiries
were carried out via Contact Us,
of which only two were completed
outside the deadline established in
the work procedure. GRI 2-26
The main topics, in order of quantity of demand, were:
people management, sponsorships and suppliers. GRI 2-26
Click here to access the Contact Us page.
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Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
The Ombudsman channel receives suggestions,
compliments, complaints and requests about
our performance, which can be registered in an
identified or anonymous manner. Its objective is to
seek solutions to the inquiries received, aiming to
improve internal processes and transparency with
stakeholders. GRI 2-25, 2-26
Eletrobras Ombudsman Channel
was created in 2023, replacing the
old ombudsman systems of each
company, and concentrating the
service for all our customers in a
single communication channel.
Ombudsman Channel
Upon receipt on our website, manifestations are
analyzed by the Ombudsman, which verifies whether
there is a need for additional information and forwards
the demand to the area responsible for the topic,
following the response period, which must be a
maximum of 30 days. GRI 2-25
When the Ombudsman receives responses from the area,
it analyzes whether the demand is being met, and the
In 2023, the Ombudsman received 2,626 complaints, divided as follows:
Complaint
Request
Suggestion
Compliment
53%
40%
1%
6%
Click here to access Eletrobras Ombudsman
Channel.
protester receives his/her response within the stipulated
deadline. Throughout 2023, the channel received 2,626
complaints, 96% of which were answered on time. GRI 2-26
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Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Ethics and integrity commitments
From 2021 to 2023, we spearheaded the initiatives on
the Global Compact Network Brazil’s Anti-corruption
Platform, represented by the Governance, Risks and
Compliance and Sustainability Officer. The platform
brings together a group of companies dedicated
to disseminating an ethical culture and integrity in
business, through the development of projects and
the promotion of learning and experience exchange.
In December 2023, we joined the Collective Action
for Integrity in the Power Sector, promoted by the
platform, with the aim of mobilizing all agents in
the sector in the construction and consolidation
of an ethical and healthy environment, free from
corruption and bribery, strengthening integrity
culture and the sector’s reputation, both nationally
and internationally.
In May 2023, we became ambassadors of the 100%
Transparency Movement, an initiative of the Global
Compact Network Brazil, with the aim of promoting
institutional commitments and transparent public
stances to generate a virtuous circle of self-assessment
and concern for companies’ value chain. We commit to
advance, by 2030, towards five goals:
»
100% integrity in top management compensation;
»
100% of the high-risk value chain trained on
integrity;
»
100% 100% transparent compliance and
governance structure;
»
100% transparent whistleblowing channels;
»
100% transparency in dealings with government
officials
We are signatories to the Business Pact for Integrity
and against Corruption, from the Ethos Institute,
with a commitment to promoting a more honest
and ethical market and eradicating bribery and
corruption.
60
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1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
We monitor our business environment in an ongoing
basis, in order to reflect our concerns, as well as those
of investors and the market in general, in the risk
management process.
Currently, our risk management model draws guidance
from the ISO 31000 standard and the COSO 2013 and
COSO ERM frameworks. This model aims to align risk
management with organizational strategies, initiatives
and structures, in addition to meeting sectoral and
regulatory and supervisory bodies’ requirements.
The main goal of the risk management process is
to prevent events that could adversely impact the
company’s strategic objectives from occurring.
We have a Risk Management Policy, applicable to any
and all risks to which the company may be exposed.
The policy establishes the roles and responsibilities
of each manager in the process, incorporating a
risk perspective into strategic decision-making, in
accordance with applicable regulations and best
practices.
Risk Management
In order to achieve the Policy’s objectives, the risk
management process is divided into the following steps:
Risk Matrix
In 2023, the corporate risk matrix was updated and
validated by the Executive Board and the Board of Directors.
The new matrix is structured around the Business, Financial
and ESG pillars. GRI 2-25
The ESG pillar identifies Environmental, Social and
Governance risks, including topics such as climate change
(learn more on page 144), human rights (page 115), diversity
(page 102), taxes (page 76), health and safety (page 110),
information security (page 86) and fraud (page 54). GRI 2-25
All the risks included in our matrix are addressed through
the implementation of action plans prepared based on
technical recommendations from the Risk Management
and Internal Controls areas, in partnership with business
managers, always taking into account the risk appetite
defined by the Board of Directors. GRI 2-12, 2-25
This corporate risk management process is directly
related to the strategic guidelines of sustainable growth,
profitability and value creation, as it allows the preventive
identification of threats to business objectives and risk-
based decision making. GRI 2-25
Risk identification
Risk assessment
Risk management
Risk monitoring
Risk communication
The Executive Board and the Board of Directors,
through the Audit and Risk Committee, are responsible
for evaluating the effectiveness of the entire risk
management process. GRI 2-12
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Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Government Relations GRI 3-3
With our new operating context as a private company,
the Government relationship has undergone substantial
changes, although it is still a fundamental instance for
generating business value.
We continue to be the most important
player in energy generation and
transmission in the Brazilian market,
providing a fundamental service to
society. Furthermore, we operate
in a highly regulated sector, in
which government decisions have
a high power to impact not only
the company, but the economy and
people’s lives.
Government actions can also impact other areas of the
business, such as grants, research and development,
environmental licenses, participation in regional
funds and social actions. For example, we continue as
temporary operators of the “Luz para Todos” Program,
coordinated by the Ministry of Mining and Energy
(MME). The deadline for transferring activities to ENBpar
— a state-owned company controlled by the Union — is
2024 (learn more on page 132).
Additionally, as a result of the capitalization process,
the Union and other entities that make up the group of
public shareholders continue to hold a major share in
Eletrobras, accounting for 42.76%, despite the limitation
imposed on the exercise of political power by the voting
rights, in the percentage of up to 10% of the share
capital of common shares.
Therefore, we monitor regulatory issues in the power
sector in an ongoing basis, working with supervisory
bodies, regulatory agencies, sectoral associations
and other institutions, with the aim of providing data,
minimizing risks and encouraging sustainability in
the sector.
Given its importance within our value creation, in 2023,
Government Relations and Advocacy was identified
as one of the business material topics (learn more on
page 8), and all actions developed assume a material
nature for the company in this context. GRI 3-2
To manage our operations with public authorities, in
2023 we created the Institutional and Government
Relations Officer, and restructured the team’s
operations, which now has capillarity and synergy with
other areas within the company.
The main actions carried out include:
» Monitoring the activities carried out by the National
Congress relating to the regulation of the power sector
and carrying out ongoing monitoring of legislative
proposals that impact business;
» Monitoring the issuance and analyzing the impacts
arising from ordinances, legislative proposals,
resolutions, orders, hearings, consultations and
other acts;
» Contributing to public consultations and hearings
promoted by regulatory agencies on relevant topics
for the business;
» Monitoring the progress of activities carried out by
representative sectoral associations;
» Developing internal standards and procedures
for structuring regulatory activities, in addition to
promoting initiatives that result in the dissemination
and strengthening of a regulatory culture.
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» Risk Management
» Government Relations
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6. Appendices
In 2023, we had a key role in bills under the so-called
Congress Green Agenda, which includes rules on the
generation of offshore wind energy, green hydrogen and
the carbon market.
Another highlight was the participation in the
discussion of the bill on the National Policy for
People Affected by Dams and the participation in a
public hearing on the impact of transmission lines on
indigenous lands — topics that reflect our commitment
to human rights.
The guidelines for our work on the topic are set out in
the Organizational Standard for Interaction with the
Public Sector, which provides for rules on professional
and contractual relationships with agents and entities
in the public sector and sectoral associative entities.
To monitor this relationship, we have a platform for
legislative monitoring and recording of interactions with
government bodies, which generates the Engagement
Map of Eletrobras spokespeople with public sector
stakeholders. We also map legislative monitoring
and parliamentary mobilization activities, generating
traceable and auditable flowcharts.
In 2023, we implemented a periodic interaction
program with public authorities, Café com os
Poderes. Through it, we organize corporate events for
transparent dialogue with members of the executive
and legislative branches on topics that impact the
power sector, in which we present our contributions,
challenges and collaborate with the democratic
process of building public policies.
Furthermore, we engage our employees through the
creation of bill impact analysis groups, which bring
together professionals from various areas of the
company to contribute in a multidisciplinary way to
government relations work.
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5. Planet
6. Appendices
With the objective of working together to generate
value for the company, the sector and our stakeholders,
we operate in a series of organizations: GRI 2-28
» Brazilian Infrastructure and Heavy Industry
Association (ABDIB)
» Brazilian Electric Vehicle Association (ABVE)
» Brazilian Green Hydrogen Industry Association
(ABIHV)
» Brazilian Wind Power Association (ABEEOLICA)
» Brazilian Association for Photovoltaic Solar Power
(ABSOLAR)
» Brazilian Wholesale Electricity Association
(ABRACEEL)
» Brazilian Association of Power Generation Companies
(ABRAGE)
» Brazilian Association of Power Transmission
Companies (ABRATE)
» Brazilian Association of Independent Power
Producers (APINE)
» Brazilian Association of Distributed Generation
(ABGD)
» National Association for Research and Development
of Innovative Companies (ANPEI)
» Brazilian Association of Shared Services (ABSC)
» Brazilian Association of Human Resources (ABRH)
» Brazilian Association of Electrical Energy Sector
Accountants (ABRACONEE)
» Brazilian Association of Public Companies (ABRASCA)
» Association of Analysts and Investment Professionals
of the Capital Market (APIMEC)
» Brazilian Association of Technical Standards (ABNT)
» Brazilian Association of Business Communication
(ABERJE)
» Brazilian Association of Distributed Generation
(ABGD)
» Electric Power Trading Chamber (CCEE)
» Brazilian CIER (Regional Electricity Integration
Commission) Committee (BRACIER)
» Brazilian Dam Committee (CBDB)
» Rio de Janeiro Regional Council of Engineering and
Agronomy (CREA-RJ)
» Engineering Club
» Brazilian Business Council for Sustainable
Development (CEBDS)
» Brazilian National Committee for Production and
Transmission of Electric Energy (CIGRé Brasil)
» CIBiogás- International Center for Renewable Energy
» eAmazônia- Sustainable Energy and Innovation
» R20 Forum - Regions of Climate Action
» National Quality Foundation (FNQ)
» FUNCOGE - Business Management Committee
Foundation
» Global Alliance for Sustainable Energy (until
December de 2023)
» Global Reporting Initiative (GRI)
» International Hydropower Association (IHA)
» Brazilian Institute of Corporate Governance (IBGC)
» Institute of Internal Auditors of Brazil (IIA Brasil)
» Instituto Ethos
» Instituto Acende Brasil
» Brazilian Greenhouse Gas Protocol Program
» Brazilian Knowledge Management Society (SBGC)
» Utilities Telecom & Technology Council America
Latina (UTCAL)
Membership in organizations and associations
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» Corporate Governance
» Governance Structure
» Ethics, Integrity and Compliance
» Risk Management
» Government Relations
Contents
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5. Planet
6. Appendices
SDGs
Prosperity
CHAPTER 3
CAPITALS
Ivaiporã transmission line - Salto Santiago - Photo: Danilo Deni Alves
65
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In respect to the climate scenario, the year 2023 was
marked by great variability. Over the first few months,
the effects of a long period of La Niña could still be
observed, followed by a transition period and the
emergence of El Niño from the second quarter onwards.
The phenomenon is caused by an abnormal warming of
the Equatorial Pacific Ocean waters, affecting several
regions of the planet and significantly impacting rainfall
and temperature patterns in Brazil.
This climate variability was reflected in excess rainfall
at the beginning of the year in the Southeast and
Midwest regions, with recovery of reservoirs in the
main river basins of interest to the National Grid.
From the establishment of El Niño, from June to
December, the hydrological scenario saw a marked
drought period, mainly in the North region, excess
rainfall in the South region and irregular rains in the
central portion of the country.
It is also noteworthy that 2023 saw a record average
temperature in Brazil, the hottest year since 1961,
according to the National Institute of Meteorology
(INMET) and surpassing the previous maximum,
recorded in 2015. In part, the high temperatures
recorded were caused by an increased frequency of
heat waves, which contributed to an expansion in
energy consumption.
In this context, we recognize our important role in
generating safe and clean energy in Brazil. In 2023,
we accounted for 37%* of the total Transmission
Lines with a voltage level equal to or greater than 230
kV in the National Interconnected System (SIN). We
ended the year with 44.6 gigawatts (GW) of installed
capacity, accounting for 22% of national capacity. GRI
EU1, EU2, EU4
Of all the energy generated by the company, 96.5%
came from renewable, low Greenhouse Gas (GHG)
emission sources (hydro, wind and solar), contributing
to Brazil having one of the cleanest energy matrices in
the world. This factor becomes even more important in
a context of climate change, in which renewable sources
are becoming increasingly employed across the planet.
GRI EU2
* Compared to data from the National Interconnected System (SIN)
for November 2023
Operating Performance
Vega do Sul Transmission Line 1 and 2 -
Photo: Gabriel Avelino Franklin
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We ended 2023 with 100 plants in operation, of which 47
hydroelectric, 43 wind, 9 thermal and 1 solar. Throughout the
year, we had a 4.9% increase in our installed capacity, reaching
44.6 GW, mainly due to corporate renegotiations in SPEs (learn
more on page 23). GRI EU1
Of our total installed capacity, 67% come from corporate
ventures and 33% from SPEs. GRI EU1
Over the year, we generated 146,946.6 GWh of energy, 96.5%
of which from renewable sources. This amount is expected to
increase in the coming years, as, with the sale of the Candiota
plant (learn more on page 138), the company’s only coal-fired
project, our matrix will become even cleaner. Furthermore,
as part of our decarbonization plan, we continue to carry out
studies on the sale of gas-fired power plants. GRI EU2
Furthermore, we still have important projects that are in the
construction stage, such as the 302.4 MW Coxilha Negra wind
farm, located in Rio Grande do Sul, where the machines are
expected to begin being commissioned in 2024. The 27 MW
Casa Nova B wind farm, located in Bahia, is in the process of
resuming construction in 2024. GRI EU10
Generation
INSTALLED CAPACITY* (MW) EU1
2023
Solar
0.9
Wind
714.8
Hydro
42,293.5
Natural Gas
1,295.2
Uranium
-
Coal
350.0
Oil
-
Total
44,654.5
INSTALLED CAPACITY** - CORPORATE (MW) EU1
INSTALLED CAPACITY - SPES (MW) EU1
38,909.2
29,907.6
30,057.6
2021
2022
2023
11,606.1
12,651.7
14,596.8
2021
2022
2023
* Reported data includes all subsidiaries and SPEs. For shared ownership ventures, the calculations considered our stakes in the
company.
** The marked drop in installed capacity from 2021 to 2022 is mainly due to the company’s restructuring, with the exit of Itaipu
Binacional and Eletronuclear.
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Asset Modernization
In 2023, we invested R$1.62 billion in our generation
assets, distributed in dam modernization, improvement
and safety projects. Among the projects with the most
significant investments, the Paulo Afonso Complex and
Luiz Gonzaga, Porto Colombia, Sobradinho, Tucuruí and
Xingó hydroelectric plants stand out.
These investments support our search for the quality
and safety of the services provided, in accordance with
regulatory requirements, aiming to optimize costs,
guarantee operational performance and strengthen our
position in the energy market.
For 2024, investments of around R$1.42 billion are
planned, reinforcing our strategy of maintaining the
excellence of the generating complex.
AVERAGE GENERATION EFFICIENCY OF THERMAL PLANTS BY ENERGY SOURCE (%) EU11
2021
2022
2023
Natural Gas
44.34
39.25
38.37
Coal
35,57
34,56
34,27
NET GENERATION BY SOURCE* (GWh) EU2
2021
2022
2023
Solar
1.0
1.1
1.1
Wind
2,365.2
2,196.9
2,191.9
Hydro
154,090.0
155,655.2
139,649.6
Natural Gas
6,677.6
3,668.3
3,466.5
Uranium
13,461.7
7,155.2
-
Coal
2,215.6
1,591.5
1,637.5
Oil
0.4
-
-
Total
178.811,7
170.268,2
146.946,6
AVERAGE PLANT AVAILABILITY FACTOR BY ENERGY SOURCE* (%) EU30
2021
2022
2023
Solar
98.85
98.12
96.07
Wind
96.86
95.05
95.17
Hydro
92.55
91.37
88.64
Natural Gas
74.28
76.37
76.73
Coal
91,53
73,02
78,54
* Reported data includes all subsidiaries and SPEs. For shared ownership ventures, the calculations considered our stakes in the company.
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Planned capacity
In Brazil, indicative planning of electricity demand
and supply is projected by the Ministry of Mining and
Energy (MME), supported by studies by the Energy
Research Company (EPE). We are continually seeking to
adapt to the planning carried out by the MME, making
investments to expand our market share in a sustainable
way, while implementing our net zero trajectory (learn
more on page 141), contributing to a less polluting
national energy matrix.
In the generation segment, we follow the strategic
guideline of sustainable growth with a focus on
renewables, in which opportunities involving solar, wind
and hydroelectric sources are being studied to develop a
robust pipeline in search of the best projects.
ELECTROBRAS SYSTEM CAPACITY X TOTAL COUNTRY CAPACITY* EU10
2023
Source
Brazil - National
Grid (MW)
Eletrobras System (MW)
Equity Interests (%)
Solar
6,686
1
0%
Wind
24,066
715
3%
Hydro
116,230**
42,293
36%
Natural Gas
13,612
1,295
10%
Uranium
-
-
-
Coal
3,017
350
12%
Oil
3,593
0
0%
Nuclear
1,990
0
0%
Biomass
15,267
0
0%
Total
177,461
44,654
24%
Itaipu 50 Hz
7,000
-
-
* The reported data does not include SPEs.
** The value 116,230 considers the installed capacity of Itaipu 50 Hz in the calculation.
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We ended 2023 with 73.8 thousand kilometers of
transmission lines (TLs). Considering only lines with a
voltage level equal to or greater than 230 kV, we are
responsible for 69.2 thousand kilometers, which accounts
for 37.5%* of Brazil’s total TLs at these voltages. GRI EU4
In total, the Permitted Annual Revenue (RAP) of corporate
Transmission Lines was R$17,663 million. GRI EU4
Taking into account all the transmission lines that came
into or went out of operation throughout the year, we
had a reduction of 103 km in our network, mainly due to
corporate renegotiations in SPEs (learn more on page 23),
line sectioning and sales to other companies. GRI EU4
At the same time, we have 201.98 kilometers of
transmission lines under construction and another 302.8
kilometers won at auction by the end of 2023, with
construction scheduled for the coming years. GRI EU4
We also have a transformation capacity of 309 thousand
MVA in our substations. Substations that will add around
8,500 MVA to the network are being implemented. GRI EU4
Transmission
** The calculation of the 2022 value considers changes in the methodology in relation to historical data, which is why we do not
make a comparison with previous periods.
EVOLUTION OF TRANSMISSION LINES* EU4
2021
2022
2023
Eletrobras transmission lines (km)
66,556
66,942
66,539
SPEs transmission lines (km)
7,532
6,949
7,249
Eletrobras transformation capacity (MVA)
254,306
276,299
278,531
Transformation capacity of SPEs (MVA)
18,586**
21,498
30,874
TRANSMISSION OPERATIONAL AVAILABILITY RATE (%) EU6
2021
2022
2023
99.93
99.96
99.96
TECHNICAL LOSSES DUE TO TRANSMISSION (%) EU12
2022**
2023
0.53
0.50
* Reported data includes all subsidiaries and SPEs. For shared ownership ventures, the calculations considered our stakes in the company.
** Data corrected after conference with the SPEs.
Jupiá – Mimoso 3 and 4 Transmission Line
Photo: Sinvaldo Prado
*** Considers corporate transmission lines in the basic grid that are entitled to RAP and were in operation throughout the reporting
period, including sections that have been cut. Does not include complementary network lines. Does not include SPEs.
* Compared to data from the National Interconnected System (SIN)
for November 2023
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Throughout 2023, we also recorded significant advances in
the Operations area, based on the structuring of planning,
management and control processes for our activities,
focusing on results and continuous improvement, and
ensuring operational and people safety.
It is worth highlighting the unification of the Control Centers
of the companies Eletrobras Eletrosul and Eletronorte and
the demobilization of the Furnas Center, which led to a cost
reduction of approximately R$32 million per year.
We also optimized the management of investments in
transmission, establishing a basis for monitoring all small
works, both in terms of physical implementation and
financial achievement.
With an eye on operational efficiency, we improved our
Asset Management by defining a criticality matrix and
advancing teleassistance.
In terms of operational security, we seek to improve
plans for emergencies involving systemic shutdowns,
transmission tower falls and socio-environmental impacts.
Operation
Geoprocessing
In 2023, we developed PortalGeo, a web application that presents all our assets in operation,
with socio-environmental and infrastructure geographic layers. Thus, we created an
environment where it is possible to monitor planning, implementation and operation of
projects, taking into account the impacts on stakeholders, communities and the surrounding
environment.
In addition, we have implemented pilot projects that integrate advanced technologies, such as
3D point cloud and Building Information Modeling (BIM) models, which allow for more precise
and detailed monitoring of infrastructures.
The integration of these technologies facilitates the creation of detailed digital representations
of physical facilities, promoting predictive analysis and maintenance and ensuring safe and
effective operation.
Geo Portal Screens - Disclosure
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In 2023, our financial results reflected the search for cost efficiency and process
rationalization, enabling the resumption of our investment capacity.
We thus present a gross revenue of
R$44.47 billion, a value 8% higher than in 2022*.
Financial Performance
GROSS REVENUE PER BUSINESS (R$ MILLION)
2021
2022
2023
Generation
22,630
24,161
26,617
Transmission
17,450
15,775
17,432
Other revenues
925
1,102
426
Total
41,006
41,038
44,475
OPERATING COSTS AND EXPENSES (R$ MILLION)
2021
2022
2023
Personnel
-4,340
-4,634
-4,240
Material
-248
-269
-251
Services
-1,542
-2,065
-2,362
Voluntary Severance Program
0
-1,260
-545
Other expenses
-1,652
-1,800
-1,563
PMSO total
-7.782
-10.028
-8.960
Personnel, material, services and other (PMSO) expenses had a 11% reduction compared
to 2022.
As a result, EBITDA grew 49% and totaled R$17 billion, and annual net profit reached
R$4.4 billion, a 21% increase compared to 2022, demonstrating the positive impact of
the increase in transmission revenues, cost and expense adequacy and simplification
of the company’s administrative structure.
* All accounting information in this report is presented in accordance with accounting practices
adopted in Brazil, including the pronouncements, interpretations and guidelines issued by the Brazilian
Accounting Pronouncements Committee (CPC) and International Financial Reporting Standards (IFRS);
Consolidated Values; fiscal years ending on December 31st of each year.
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Over the year,
investments
totaled R$9.02
billion, a 60%
increase
compared to
2022.
DISTRIBUTION OF ADDED VALUE* (R$ MILLION) GRI 201-1
2021
2022
2023
Personnel
5,273
6,283
4,784
Taxes
10,073
5,698
1,969
Third Parties
5,236
9,051
15,779
Acionistas
5.714
3.638
4.395
48%
6%
46%
Corporate generation
Corporate transmission
Infrastructure and others
DISTRIBUTION OF INVESTMENTS
Maintenance of cables in a tower on the Atlântida 2 transmission line - Gravatai 3 - Photo: Marcelo Camargo Constante
* Statements of Value Added for the years ending in December 31st of each year;
Consolidated Values; in accordance with CPC 09 Statement of Added Value, approved by
CVM Resolution 117/22
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STATEMENT OF INCOME FOR THE YEAR* (DRE) (R$ MILLION)
2021
2022
2023
Generation Revenue
22,630
24,161
26,617
Transmission Revenue
17,450
15,775
17,432
Other revenues
925
1,102
426
Gross revenue
41,006
41,038
44,475
Deductions from revenue
-6,379
-6,963
-7,316
Net operating revenue
34,627
34,074
37,159
Electricity for resale, grid usage, fuel and construction
-5,555
-9,628
-11,844
Personnel, materials, services and other
-7,782
-10,028
-8,960
Depreciation and amortization
-1,443
-2,690
-3,621
Operational provisions
-14,922
-6,928
-2,196
4,925
4,799
10,537
Regulatory remeasurements - Transmission Contracts
4,859
365
-12
Equity interests
1,507
2,370
2,062
Other revenues and expenses
1,211
187
1,143
12,501
7,721
13,730
Financial Result
-1,442
-4,374
-12,002
Income before tax
11,060
3,347
1,728
Income Tax and Social Contribution
-5,261
-696
2,998
Net income for the year
5,799
2,652
4,727
Net income (loss) of taxes from discontinued operations
-85
987
-332
NET INCOME FOR THE PERIOD
5.714
3.638
4.395
* Financial Statements for the periods ending on December 31st of each year. Consolidated Values
Eletrobras Day
In July 2023, we held Eletrobras Day, an event
dedicated specifically to investors, during which
we disclosed our Strategic Plan and ongoing
initiatives in detail.
Some of the highlights involved the
transformations carried out since the company’s
capitalization, many of them related to the ESG
agenda, such as:
•
increasing allocation of capital to
renewables;
•
the opportunity to become a competitive
energy supplier for the production of green
hydrogen;
•
new workforce management strategies,
with policies to optimize the structure;
•
changes in the organizational and
corporate structure to boost governance.
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Taxes GRI 3-3
We follow Brazilian tax legislation and have established
a series of procedures to comply with our main and
ancillary obligations in a coherent and timely manner,
in accordance with legal requirements. We understand
the relevance of this process for generating revenue for
Municipalities, States and the Union, contributing to
the country’s economic stability, and thus to creating
better conditions for providing public services to the
population. GRI 207-1
Our tax practices are adopted based
on the analysis of federal, state and
municipal legislation established
by the Government and Regulatory
Agency, also complying with the
Sarbanes-Oxley Act, in cooperation
with public supervisory entities.
Tax planning is aligned with the company’s commercial
activities, and reports and accounting statements
support the business’s strategic planning. Linked to this
tax design, the benefits of tax incentive laws granted to
companies that invest in social projects are considered,
such as the Rouanet Law, Sports, Audiovisual, and
Research Incentive Law, the Good Law, in addition to
the ICMS deferral. GRI 207-1
Additionally, in federal taxation, we have the benefits
of the Special Incentive Regime for Infrastructure
Development (REIDI), which suspends tax collection to
the Social Integration Program (PIS), the Civil Servant
Asset Formation Program (PASEP) and the Contribution
for Social Security Financing (COFINS) levied on projects
aimed at implementing infrastructure in the energy
sectors. GRI 207-1
The amounts paid are public and are disclosed in the
Accounting Statements. The company’s tax strategy is
not public data, as it is considered strategic information.
GRI 207-2
Our tax strategy is developed based on current
laws and regulations, ethical standards and best tax
governance practices, with initiatives and practices
periodically reviewed and approved by the Executive
Board. This work is supervised by the Board of
Directors through the Audit and Risk Committee. GRI
207-2
We carry out in-company training and internal and
external courses on tax optimization, in addition
to holding meetings with Eletrobras companies’
accountants. We also prepare Technical Standards
for compliance with fiscal-tax procedures, aimed
at the Sales, Supplies and Shared Services Center
departments. GRI 207-2
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6. Appendices
Tax management
Our Tax Fiscal Management includes the
process of issuing tax documents, bookkeeping,
declarations, information to the tax authorities,
calculation and payment of taxes, complying with
the main and accessory obligations. GRI 207-2
It also uses accounting, tax and legal-tax controls, audit
reports to measure values and risk forecasts, so that
action plans can then be established to resolve problems
that may impact the company’s business. GRI 207-2
Moreover, we seek to identify and mitigate tax
risk situations that may negatively impact the
company’s objectives, with risks related to the topic
described in our risk matrix (learn more on page
61) and monitored in an ongoing basis. GRI 207-2
Compliance with fiscal control and governance
structure is periodically assessed by Internal Audit,
External Audit and Internal Controls, through tests
carried out on processes, activities and documentation.
Any complaints about inappropriate fiscal and
tax practices can be made to our Whistleblowing
Channel (learn more on page 57). GRI 207-2
Our relationship with tax authorities takes place
in accordance with the procedures provided for in
Brazilian tax legislation and the principles established
in our Code of Conduct. Given the complexity of this
legislation, we adopted a management system aligned
with our strategy, complying with main and accessory
obligations in accordance with layouts available
on the Government’s official websites. GRI 207-3
Aiming to strengthen the relationship with tax
authorities, we participated in the pilot project of
the Brazilian Tax Cooperative Compliance program
(Confia), organized by the Federal Revenue Service to
improve relationships with large taxpayers. GRI 207-3
We also participated in sectoral forums to discuss
new practices that may affect our activities, and
together with professional associations, we analyzed
the most appropriate contributions to be presented
in public discussions on the subject. GRI 207-2, 207-3
UHE Tucuruí -Eletrobras File
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Commercialization GRI 3-3
The Brazilian energy sector is undergoing major
transformations, with a significant increase in the
number of customers in the Free Market (ACL)
environment predicted for the coming years, driven
by the opportunity to negotiate volumes and prices
directly with suppliers, in addition to being able to
choose alternative energy sources.
Brazilian legislation, through MME Ordinances No.
514/2018 and No. 465/2019 and Normative Ordinance
No. 50/GM/MME of 2022, provides that the process of
opening the Free Market in the country must take place
gradually: From 2022 onwards, consumers with loads
equal to or greater than 1,000 kW could migrate to the
Free market; from 2023 onwards, consumers with a
load equal to or greater than 500 kW; and, from 2024,
consumers classified as Group A.
In line with this change in the energy
commercialization environment in Brazil, we have
been working with a focus on structuring our business
and positioning ourselves for the new challenges in
the sector.
As a consequence of the capitalization process,
new concession contracts were signed for 22 of our
hydroelectric plants. The new agreements have a term
of 30 years and provide for a phased transition out of
the quota system at a rate of 20% per year, beginning
on January 1, 2023.
This discount takes place through payment to
the Union of R$33 billion relating to the Energy
Development Account (CDE).
As a result, these plants will start selling energy on
the free market from 2024. Exceptions to this rule
include the Tucuruí, Curuá-Una and Mascarenhas de
Moraes UHEs, which no longer operated under a quota
regime, and Sobradinho and Itumbiara which, for
have subsidized contracts, are prohibited by law from
trading on the free market.
In this context, with a growing interest of the market
and energy available for direct sales, we developed a
new marketing and customer relationship strategy,
with objectives highlighted in the Strategic Plan.
In 2023, we created the Commercialization and
Energy Solutions Office, with specialized professionals
to develop the market and deliver electrification
solutions.
Throughout the year, we worked on mapping and
unifying the subsidiaries’ sales processes, centralizing
the entire process and investing in the implementation
of a single CRM (Customer Relationship Management).
The Commercialization and Energy Solutions Office has
areas dedicated to specific customer segments, such
as Trading and Industrial and Commercial Customers,
with sales intelligence and data analysis for the sale
of customized solutions according to the customer
demands.
We also have an After-Sales area, which is responsible
for customer management, seeking to develop a
relationship of trust in favor of loyalty.
As part of the process for
structuring and strengthening the
area, in 2023, we transferred the
commercialization activities to
an office in São Paulo (SP), which
centralizes the sales process and
customer relationships.
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As a result of investments in marketing, by the end
of 2023, we had 271 consumer customers, a 502%
increase compared to the previous year. With these
customers, 319 average MW were sold. GRI EU3
Due to its importance for our value creation, in 2023,
Customer Relationships were identified as one of the
material topics of the business (learn more on page 8),
and all actions developed assume a material nature for
the company in this context. GRI 3-2
CUSTOMER PROFILE GRI EU3
2022
2023
2021
Traders
Distributors
Consumers
109
126
128
271
83
45
75
32
58
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Portfolio
In the dynamic scenario of the power sector,
the ability to adapt and innovate is of paramout
importance to maintain the portfolio, get new
customers and expand market share, aiming to
increase market share.
In this sense, we developed a portfolio with
several structured energy products, including
decarbonization certificates (learn more on
page 140). These solutions were implemented
in response to emerging business demands
and added value to energy commercialization,
providing greater financial return for the company,
representing additional revenue from sales of
around R$67 million in 2023. GRI EU23
The portfolio of services for accessing the
transmission system and prospective studies
related to the opening of the retail market are
under construction.
Drone-supported dam inspection -
Photo: Izabelle Wanderley Catole
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Innovation and Technology GRI 3-3
We believe that innovation and sustainability go hand
in hand and are fundamental factors for business
success. We invest in research, development and new
technologies, focusing on digital transformation and
paying attention to artificial intelligence, looking for
new ways to operate and to be increasingly efficient in
the generation, transmission and commercialization of
clean energy.
The Innovation and Technology topic is considered
central to the company’s transformation process, and
was chosen as one of the guidelines of the Strategic
Plan (learn more on page 28). In this sense, in 2023, the
Executive Innovation, R&D, Digital and IT Office was
created, responsible for managing the topic throughout
the company, ensuring strategic alignment across all
subsidiaries.
We follow the guidelines of the Research, Development
and Innovation Policy, treating the topic as a short,
medium and long-term business strategy.
In R&D+I management, we must seek to:
» Encourage a culture of innovation;
» Enable the company’s technological independence;
» Create an innovative ecosystem, promoting networks
and connections with entities to execute innovation;
» Increase the effectiveness of investment in
innovation, achieving innovative (technological
or non-technological) solutions for critical
organizational issues;
» Reduce the time between the design of an innovative
solution and its commercial viability.
Our investments in R&D+I follow Law 9.991/2000,
which requires the allocation of at least 1% of Operating
Revenue (ROL) for Research and Development (R&D)
activities, for the sectoral fund and for the Research
Company Energy (find out about our investments in this
topic on page 82). GRI EU8
Therefore, all companies in the group invest resources
in internal research and development and publish
public calls for proposals and scientific research and
technological development programs. GRI EU8
Innovation-related topics and projects must be
broken down into Technological Initiatives (ITs), with
their respective indicators and goals. Next, the Value
Deliveries (EV) necessary to achieve these goals are
identified. This governance allows the integration of
the innovation sector with other areas of the company,
focused on the development of projects that generate
value for Eletrobras.
For the effective management of our innovation
portfolio, governance is composed of an Innovation
Committee, made up of Officers, which must meet
quarterly to deliberate on the ITs and EVs portfolio.
We also have Technical Committees, made up of
members appointed by the VPs, who must meet
monthly to define and prioritize value deliveries
for each topic. These bodies are also responsible
for monitoring internal indicators that measure
productivity in project implementation.
Each completed project must be evaluated by an
audit conducted by Aneel-accredited entities, internal
audits and external audits based on the Sarbanes-
Oxley Act (SOX).
Click here to access our Research, Development
and Innovation Policy.
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Digital Transformation
The cultural transformation we have undergone over the past
year, given the need to integrate processes and create an
environment of high corporate performance, is supported by
digital transformation.
In this sense, we use technology to transform business,
accelerating digital initiatives for new ventures and sources of
income, and investing in our digital presence.
To structure the company’s Digital Transformation, the Centers
of Excellence (CoEs) Department was created, which operates
in the segments of Data, Artificial Intelligence & Analytics,
Industrial IoT (internet of things), Industrial Robotization,
Hyperautomation and Digital Platforms for Marketing.
As part of this process, new support tools and technological
solutions are being implemented and their use has been
deepened in critical areas, such as IT infrastructure, storage
systems, data intelligence, process automation, organization,
sharing and flexible access to information, ERP system (SAP)
and content sharing tools.
Operations Center in Recife -
Photo: André Schuler
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Investing in Innovation and TechnologyGRI 3-3
In 2023, we invested R$533.9 million in innovation and
technology projects. These resources include those mandatory
defined by Law No. 9.991/2000, within the scope of Aneel’s
R&D programs, projects developed by Cepel, the MME, and
the National Scientific and Technological Development Fund
(FNDCT). Investments intended for initiatives developed by the
companies are also included. GRI EU8
INVESTMENTS IN INNOVATION ACCORDING TO ANEEL CLASSIFICATION (R$ MILLION) EU8
2021
2022
2023
Alternative power generation sources
56.4
54.9
43.1
Thermal power plants
47.9
0.65
1.9
Basin and reservoir management
8.2
9.4
4.2
Environment
7.4
7.3
7.7
Safety
16.8
7.5
11.1
Energy efficiency
16.9
16
5.8
Power system planning
26.4
22.3
25.9
Power system operation
50.8
92.1
21.7
Power system supervision, control and protection
47.9
63.2
39.1
Power supply quality and reliability
4.2
8
38.3
Metering, billing and reducing commercial losses
1.6
1.6
0.2
Others
17.1
15
17.4
INVESTMENT IN R&D+I (R$ MILLION)
2021 2022 2023
508.5
512.3
533.9
Investments in Aneel’s innovation projects totaled R$216.2 million in 2023.
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Innovation Ecosystem
Innovation programs and initiatives are aligned
with the guidelines of Aneel’s R&D Program, which
prioritizes projects that generate value for the energy
industry and companies in the sector, in addition to
seeking partners to expand resources, increasing the
value of investments. GRI 3-3
Innovation Grid
Innovation Grid is our platform for connection,
engagement and relationship with external agents
in the innovation ecosystem. It is made up of open
innovation initiatives, market connection modules,
initiatives to engage and attract young talent and
demands for technological acquisitions.
Additionally, the program aims to meet strategic
demands and encourage innovative solutions in the
context of the energy transition, developing new
business models that contribute to the company’s
sustainability.
Innovation Grid’s activities are divided into three
modules:
Power Up
Tech Partnerships
Spark
POWER UP
It seeks to connect the business with
mature solutions in the innovation
market. This takes place by launching
challenges to technology companies,
which seek to solve problems or
develop business opportunities. By
the end of 2023, 12 challenges had
been launched, on topics such as
process automation, professional
development, workplace safety and
supplier relationships.
SPARK
Development program aimed at
students. Through it, new talents are
selected to form multidisciplinary
teams, learn about the company’s
challenges and business and connect
with innovation teams. Spark
encourages the training of new talents
in Science, Technology, Engineering
and Mathematics (STEM). This module
was launched in the first quarter of
2024.
TECH PARTNERSHIPS
Created to accelerate the development of technologies
that can be implemented by Eletrobras.
The module promotes and leverages relationships with
universities, research institutions and companies, in order
to overcome barriers and create business routes. By the
end of 2023, we had 50 technological solutions being
developed in partnership through the program.
Find out more about the initiative on the Innovation Grid website.
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Brazilian Power Sector Research Center (Cepel)
Cepel is the largest power research center in the
southern hemisphere, and has contributed for 50
years to the development of the Brazilian industry and
electrical sector. In partnership with the academia, it
has consolidated operations in research, development
and innovation in the areas of energy optimization,
electrical network analysis, system automation, asset
management, renewable energy and sustainability,
experimental research, testing and technological services.
The Center provides its researchers and technicians
with a broad technical-scientific apparatus to create
complex and innovative solutions for the areas of
power generation, transmission, distribution and
commercialization.
Eletrobras companies are co-founders of Cepel, and
have been using the center as an executor of their
institutional projects portfolio since 1974.
In 2023, we invested R$137.8 million in Cepel, and its
role in the R&D+I structure remains essential for the
current transformation of our business.
The amounts were allocated to a series of ongoing
projects, focusing on Innovation and Sustainability,
with emphasis on:
» Socio-environmental Vulnerability to Climate
Change: methodology to map the degree of climate
vulnerability of indigenous communities and
ecosystems (learn more on page 145).
» AAEXP-Pegadas: aims to develop methodologies
to calculate carbon footprint and water footprint for
power generation and transmission projects (pages
145 and 152).
» Human Rights Due Diligence Methodology: aims
to develop a methodology aimed at mitigating the
risk of human rights violations related to the activities
of Eletrobras and partners.
» Emisfera: CEPEL product used to record emissions.
In 2023, a new version was developed, more modern
and integrated with the analytical IGS.
» IGS Project: offers solutions for management,
analysis and reporting of ESG indicators.
220 Program
Committed to promoting a culture of innovation within
the company, the 220 Program provides learning and
development opportunities for employees, enabling
them to work in innovation processes.
Currently, there are two development journeys
launched:
355 registrations
160 registrations
Design Journey:
focus on the problem from the user’s perspective
Citizen Data Scientist Training Journey
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Main Research and Development themes in 2023
13
Power Storage
8
Floating Photovoltaic
Generation System
3
Environment
and Society
12
BIM (Building Information
Modeling) Methodology
7
Rural Hybrid Power
Generation
2
Electrification
11
Digital Transformation
6
Urban Hybrid Generation
and Storage
1
Decarbonization
10
Energy Storage and
Renewable Energy
Generation
9
Floating and Wind (Hybrid)
Photovoltaic Generation
5
Virtual and Augmented
Reality
4
Green Hydrogen
To find out about the projects developed throughout the year, access the supplementary Innovation and Technology booklet.
During the year, we carried out a
series of research aimed at business
development and value creation.
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Information Security
In line with our digital transformation, system
availability and the integrity and confidentiality of
information are crucial factors for business success.
We continually seek to minimize and prevent events
that could compromise the cybersecurity of our
operations, avoiding material damage, data loss,
financial losses, disruption of services, unlawful
disclosures and reputational damage, among other
possible harm.
Information Security is a priority in our risk matrix
(learn more on page 61), monitored through periodic
reports to the Board of Directors. We continually
invest in improving the management of this topic,
acting based on the Information Security Policy and
supplementary regulations. GRI 2-24
Our cybersecurity approach follows the guidelines
of the NIST Cybersecurity Framework, developed
by the United States National Institute of Standards
and Technology (NIST). On an annual basis, an
independent auditor validates information security
indicators, issuing a report on the company’s
maturity level.
Care with the topic is also replicated among the
professional staff. In addition to general and
mandatory training for the entire team, carried
out via the Eletrobras Group Corporate University
(Unise), we also promote events such as workshops
and seminars. In 2023, we began specific training on
cybersecurity in business processes, such as People
Management and Supplier Management. We are
also developing a platform specialized in training,
campaigns and simulations, focusing on Information
Security and privacy. GRI EU14
In our website, we have a Privacy Portal, which provides
our stakeholders with explanations about how we
process personal data and how data subjects can
make requests. The Portal also presents Eletrobras
Data Protection Officer (DPO). GRI 418-1
Our Reporting Channel (learn more on page 57)
receives and forwards reports of practices that do not
comply with our guidelines, including those relating to
information security and privacy. In 2023, we recorded
a complaint about a possible breach of data privacy,
which was forwarded to the DPO for appropriate action.
GRI 418-1
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Supply Chain Management
3.2 thousand
6.4 thousand
R$4.2 billion
new suppliers contracted in 2023
estimated suppliers at Eletrobras
expenditure on new contracts in 2023
Eletrobras maintains a partnership-based relationship
with its suppliers. We value ethics, integrity,
transparency and sustainability, and we know that, by
doing business with companies that reflect the same
attributes, we generate value for society as a whole.
To conduct this relationship, we follow the guidelines
of the Eletrobras Group Procurement Logistics Policy,
last updated in 2022, which promotes measures aligned
with sustainable development and the 2030 Agenda
(learn more on page 36), both in the hiring processes
and in the supply chain management. GRI 2-6, 2-23
By the end of 2023, we had 6,371 suppliers contracted
across all Eletrobras companies. Among them, 3,234
were new suppliers, for which R$4.2 billion was paid.
Our supply chain is mainly made up of companies
in the areas of technology, IT, telecommunications,
engineering, industry, transportation, resale, power
equipment, consultancies in various areas and cleaning
and security services. GRI 2-6, 204-1
PROPORTION OF SPENDING ON LOCALLY-
BASED SUPPLIERS GRI 204-1
Total purchases (R$)
7,257,598,261.1
Total purchases from local
suppliers (R$)
2,087,355,588.8
Compras realizadas com
fornecedores locais (%)
28,76%
Locally-based Suppliers
As a national-wide company, we believe in our power
to generate positive value from relationships with
suppliers in the various locations where we operate. In
this sense, the Eletrobras Group Procurement Logistics
Policy guidelines provide that the contracting process
must promote local development, prioritizing the
participation of local companies and job generation in
the communities. GRI 2-6, 204-1
In 2023, 28.76% of purchases were made from local
suppliers, considered those located or headquarted in
the same state where the companies have facilities or
branches. GRI 204-1
After Eletrobras capitalization, in 2022, we made
important advances in the way we contract suppliers,
with the implementation of new authority rules and the
adoption of our own contracting criteria, in compliance
with Brazilian legislation and best governance and
market practices. This way, we got agility, efficiency and
flexibility in the process and optimized costs.
In order to centralize operations, from 2023 onwards,
only companies registered on the Supplier Space Portal
(learn more on page 88), which can be accessed via
Eletrobras website, will be contracted. GRI 2-6
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The supplier is monitored throughout its relationship
with Eletrobras in aspects such as legal compliance,
economic-financial assessment, technical
qualification and compliance with established
technical specifications. The contract describes the
measures applicable in case of non-compliance. The
current ESG due diligence process, as well as the
evaluation and monitoring of suppliers’ performance,
are under review, with a view to expanding their scope
and effectiveness. GRI 2-6, 2-23, 2-24
Supplier relationships also involve raising awareness
and sensitization to internalize Eletrobras’ values.
This is done through exhibition forums, informative
materials available on the Suppliers Portal and
debates at annual meetings with suppliers. GRI 2-6,
2-23, 2-24
Sustainable supply chain
Click here to access the Eletrobras Group Supplier
Code of Conduct.
Supplier Space Portal
The Supplier Space Portal is a digital
platform created to provide services and
consultations for Eletrobras suppliers. The
Portal has become increasingly important
in enabling us to implement changes in our
procurement procedures, centralizing the
registration of all suppliers.
The Eletrobras Group Procurement Logistics Policy
provides that our contracts must respect human rights,
guarantee health and safety at workplace, worker
well-being, gender and racial equality and respect for
diversity, in addition to encouraging local development.
GRI 2-6, 2-24
In addition, we have the Eletrobras Group Supplier Code
of Conduct, revised in 2022, which prohibits the use
of child, degrading, slave, forced labor or involuntary
labor of inmates in its production chain, or the sexual
exploitation of children and adolescents in its processes
or in the production chain, and requires suppliers to
provide decent conditions for their workers, including
subcontractors. The policy also prohibits discrimination
based on skin color and race, marital status, physical
and cognitive disability, age, religion, sexual orientation,
social class and other factors GRI 2-6, 2-23
To establish relationships based on ethics and integrity,
we carry out due diligence on suppliers, which
includes analyzing the existence of illicit acts and any
reputational impacts (learn more on page 54). GRI 2-6,
2-23, 2-24
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People
CHAPTER 4
SDGs
CAPITALS
Subestação Campina Grande II Ozildo-Ferreira-Junior - Divulgação Eletrobras
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At Eletrobras, we believe employee dedication
and engagement are the pillars to support the
business. Therefore, we invest in the development
and appreciation of our team, with the best people
management practices, in order to create an innovation-
and sustainability-driving environment.
In order to strengthen our culture, we have Eletrobras
Companies People Management Policy, which provides
for the principles and guidelines that constitute the
basis for people management, derived from the
business strategy.
The document establishes that the principles for people
management are:
» Attracting, developing, recognizing and retaining
talent;
» Leading and managing with a focus on business
sustainability;
» Promoting the safety and well-being of employees in
internal and external environments of the company;
» Promoting sustainable labor relations;
» Respecting diversity, promoting equity, equal
opportunities and inclusion;
» Preserving ethics and corporate integrity;
» Integrating and standardizing people management
practices.
By the end of 2023, we had 8,328 professionals, 82% of
whom identified themselves as men and 18% as women.
Furthermore, 39% identified themselves as black,
brown, asian and indigenous. GRI 2-7, 405-1
Regarding geographic location, the highest percentage
of professionals is located in the Southeast region
(31%), followed by the Northeast (30%), but we have
teams located all over the country, supporting income
generation and contributing to local and territorial
development. GRI 2-7
We also have 8,019 outsourced professionals who work
in our operations, in areas such as IT, occupational
health and safety, transport, consultancy, conservation
and cleaning. GRI 2-8
Our Employees
Click here to access our
People Management Policy.
Profissional da Eletrobras Chesf -
Photo: André Schuler
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Employee Profile GRI 2-7, 405-1*
*The data in the image includes the
permanent workforce of Eletrobras
Holding, Furnas, Eletrosul, Chesf,
Eletronorte and Eletropar. The
assumptions for calculating the
information are presented in the
Indicators Booklet.
** We do not have temporary or non-
guaranteed hours employees.
8,328
7,084
1,244
Active employees
Full time
12.0%
North
11.9%
Midwest
30.1%
Northeast
31.3%
Southeast
14.7%
South
Part time
Employment type GRI 2-7**
By region
39%
black, brown, asian
and indigenous
Age group
under 30
years old
30 to 50
years old
over 50
years old
3%
65%
32%
82%
Men
18%
Women
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EMPLOYMENT TYPE BY GENDER* GRI 2-7
Men
Women
Total
Full time
5,708
1,376
7,084
Part time
1,145
99
1,244
Total
6,853
1,475
8,328
EMPLOYMENT TYPE BY REGION* GRI 2-7
Midwest
Southeast
South
North
Northeast
Total
Full time
911
2,330
1,039
771
2,033
7,084
Part time
76
280
189
229
470
1,244
Total
987
2,610
1,228
1,000
2,503
8,328
INTERNS BY GENDER* GRI 2-8
Men
Women
Total
146
181
327
YOUNG APPRENTICES BY GENDER* GRI 2-8
Men
Women
Total
122
135
257
* The data includes the effective staff of Eletrobras Holding, Furnas, Eletrosul, Chesf, Eletronorte and Eletropar. The assumptions for
calculating the information are presented in the Indicator Booklet.
Transmission line inspection -
Photo: Eduardo Vilaça
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Eletrobras’ capitalization process has significantly
changed our talent management practices, which
have been built based on internal and external success
benchmarks, with a view to integration and synergy
between teams.
A major transformation has occurred in talent
attraction and retention. Hiring, which was
previously carried out exclusively through public
competitions, began to be carried out in accordance
with strategic plans and business needs, defined by
the company’s senior management, in a more agile
and flexible manner.
All hiring is based on a fair
professional selection, focusing on
their technical and behavioral skills.
During 2023, we began a process to review career
plans, in line with the company’s new situation. In this
context, we implemented a new career architecture,
with adjustments to the remuneration model, which
prioritize results achievement, through variable
remuneration mechanisms.
Moreover, given the need for staff renewal in the PDV
context, we structured a recruitment and selection
process focused on operation and maintenance
openings, which included the publication of more than
700 opportunities all over the country, for technicians
and engineers with different specialties.
We also started the hiring process of 400
professionals in the areas of Information Technology,
Infrastructure and General Services, Legal, Logistics,
Human Resources and Supplies to work at the
Eletrobras Shared Services Center, in Recife (PE).
Voluntary Severance Program (PDV)
As part of the company’s restructuring process, in
2023, we began the second phase of the Voluntary
Severance Plan (PDV 2023), which encompassed
all Eletrobras companies. The plan is part of a
commitment established in the 2022/2024 Collective
Labor Agreement (CLA) and has favorable conditions
for employee severance. GRI 404-2
Its objective is to support the renewal of our teams,
capturing operational synergies and scale savings by
optimizing the organizational structure. GRI 404-2
During the 2023 PDV, 1,573 eligible employees
subscribed to the program. The first phase was
launched in 2022 and covered 2,493 professionals who
are retired or eligible for retirement.
By the end of 2023, 2,811 dismissals had been carried
out, including those enrolled in both programs. Among
the 1,255 employees who are expected to be dismissed,
90% are in operation, maintenance and supply activities.
The first two categories require staggered succession
and the last one requires the unification of the Shared
Services Center to maturate, expected for 2024. After
completion of the plans, savings of R$1.8 billion are
estimated in 12 months. GRI 2-7
As part of the PDV, we offered employees who signed it
the possibility of joining the Career Transition Support
project, the Outplacement Program. GRI 404-2
Employee Attraction and Retention GRI 3-3
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OVERALL TURNOVER RATE* GRI 401-1
2021
2022
2023
3.66%
12.06%
22.90%
TURNOVER BY GENDER* GRI 401-1
2021
2022
2023
Men
Women
Men
Women
Men
Women
Total new hires
67
21
41
22
667
155
New hire rate
0.60%
0.79%
0.51%
1.19%
9.68%
10.50%
Total terminations
419
87
922
270
1,493
423
Turnover rate
3.74%
3.28%
11.41%
14.65%
21.67%
28.66%
TURNOVER BY AGE GROUP* GRI 401-1
2021
2022
2023
Under 30
years old
30 to 50
years old
Over 50
years old
Under 30
years old
30 to 50
years old
Over 50
years old
Under 30
years old
30 to 50
years old
Over 50
years old
Total new hires
25
55
8
19
34
10
263
493
66
New hire rate
15.06%
0.67%
0.15%
26.03%
0.57%
0.25%
96.7%
9.10%
2.47%
Total terminations
2
59
445
14
112
1.066
2
401
1,513
Turnover rate
1.20%
0.71%
8.21%
19.18%
1.89%
27.18%
0.7%
7.4%
56.6%
Turnover rate GRI 3-3
Over 2023, we recorded a 22.90% turnover
rate, about 11 percentage points higher
than the previous year, resulting from the
company’s transformation period.
* The data iincludes Eletrobras Holding, Furnas, Eletrosul, Chesf and Eletronorte. The assumptions for calculating the information are presented in
the Indicators Booklet.
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TURNOVER BY REGION GRI 401-1
2021
North
Northeast
Midwest
Southeast
South
Total new hires
0
6
2
5
75
New hire rate
0
0.18%
0.15%
0.10%
2.63%
Total terminations
114
139
92
84
77
Turnover rate
8.60%
4.18%
6.95%
1.68%
2.70%
2022
North
Northeast
Midwest
Southeast
South
Total new hires
27
3
1
31
1
New hire rate
1.84%
0.10%
0.08%
1.03%
0.07%
Total terminations
178
438
151
246
179
Turnover rate
12.12%
15.12%
12.69%
8.20%
13.08%
2023
North
Northeast
Midwest
Southeast
South
Total new hires
83
244
93
278
124
New hire rate
8.19%
9.68%
9.3%
10.7%
10.1%
Total terminations
244
596
288
548
240
Turnover rate
24.1%
23.6%
28.8%
21.1%
19.5%
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RETURN TO WORK AND RETENTION RATES AFTER PARENTAL LEAVE GRI 2-4, 401-3
2021*
2022*
2023
Employees entitled to paternity leave
8,302
8,092
6,853
Employees entitled to maternity leave
1,919
1,843
1,475
Employees who took paternity leave in the year
172
142
149
Employees who took maternity leave in the year
44
36
19
Employees who returned to work after paternity leave in the year
165
143
147
Employees who returned to work after maternity leave in the year
40
33
18
Male return rate
100%
100%
100%
Female return rate
100%
91.7%
100%
Employees who returned to work after paternity leave and were still employed 12 months after returning to work
167
156
130
Employees who returned to work after maternity leave and were still employed 12 months after returning to work
49
34
29
Male retention rate
93.3%
99.3%
94%
Female retention rate
83.2%
95.5%
100%
* The data reported in the 2022 Annual Report referred only to the holding company and was adjusted to take subsidiaries into account, allowing comparability with consolidated results in 2023.
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We seek to recognize the collaboration and engagement of our professionals and value their
health and quality of life. That’s why we offer a series of benefits, voluntarily and through
Collective Labor Agreement clauses and adherence to the Citizen Company Program, as
described below. GRI 401-2
» Transportation tickets or shuttle service;
» Group life insurance;
» Health and dental insurance;
» Daycare allowance;
» Burial insurance;
» Pharmacy allowance;
» Variable remuneration;
» Length of service bonus;
» Meal and food allowance;
» Retirement plan;
» Supplement for sickness allowance;
» Psychopedagogical allowance;
» Vacation bonus;
» Extended paternity leave (20 days) and extended maternity leave (180 days);
» Leave for employees who are victims of domestic violence, upon the death of stepparents and
for follow-up;
» Education allowance;
» Foreign language course;
» Supplement to sickness allowance.
Benefits
In line with our concern for the health, well-being and
future of our employees, at the beginning of 2023
we completed the closure of our last two Retirement
Plans in the Variable Contribution (CV) modality. Thus,
we started offering new employees with Defined
Contribution (CD) Plans only, without actuarial risks.
Additionally, at the end of 2023, we approved the
multi-sponsorship of the CD Elosprev Plan, managed by
Fundação Elos. The purpose was to facilitate employee
transfer between Eletrobras companies, providing
standardization in the supplementary pension offered
to all new employees and to those a pension plan. We
now have a single supplementary pension plan open to
new members.
Furthermore, Eletrobras Health Insurance benefit offers
broad coverage to meet the health and well-being
needs of employees and their dependents. Currently,
the benefit is offered through five self-managed
operators sponsored by Eletrobras. By the end of 2023,
there were more than 26 thousand beneficiaries.
Retirement and health insurances
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Organizational culture
During 2023, we held the “Culture Movements”
project, with the aim of fostering the foundations
to collectively buid an Eletrobras Culture, its
organizational Values and Purpose, connected
with the company’s strategy.
This initiative involved the participation of more
than 2 thousand professionals, who contributed
through listening groups, individual interviews
with leaders and visits to subsidiaries and
operations, among other actions.
In this process, it is worth highlighting the
collaborative way of building a culture,
strengthening and valuing the participation of
professionals in different stages of the project and
highlighting a transversal vision of the company,
in synergy with the organization’s strategy and
positioning.
The result of the listening processes resulted
in six main topics for the cultural evolution
narrative:
» results and growth;
» health and safety;
» flow and agility;
» synergy and unity;
» innovation and sustainability;
» trust and diversity.
Also in 2023, another important milestone was
that the company’s Organizational Culture was
renamed “Our Energy”, a name chosen through
open vote by the entire internal audience. The
collaborative project will result in the launch of
the Culture Manifesto, a document directly linked
to the company’s strategy and which will reveal
the organization’s new purpose, as well as the
organizational values and desired behaviors.
Hybrid work model
In December 2023, we began implementing our
new work model. With a focus on Eletrobras
unification and integration, the hybrid work
model aims to promote productivity, agility,
attract talent and increase professional
connections, increasingly enabling the company’s
transformation strategy and movement.
In its first wave of application, the proposed model
includes at least three days of in-person work and
two days of remote work, without working hours
control. The new model applies to all employees
whose activities or part of them can be performed
remotely, in accordance with management
approval.
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Trainee Program
In line with our transformation process, we have carried
out several actions aimed at renewing the team and
creating a more diverse work environment. In 2023, we
launched the first trainee program in the company’s
history, with the aim of attracting and training young
talents, so that they can develop and enter the job
market in accordance with our organizational culture.
The program offered 30 job openings in areas such as
Innovation, Commercialization, Engineering, Operation
and Maintenance, Finance and New Business, in cities
such as Rio de Janeiro (RJ), São Paulo (SP), Recife (PE),
Florianópolis (SC) and Brasília (DF).
The selection process, which began in October, had
more than 15 thousand applicants, and was completed
in early 2024.
During the 18-month program, trainees will undergo
an in-depth development process, which includes a
development path with practical training and technical,
cultural, scientific and teamwork development. They will
also undergo a job rotation period, during which they will
acquire extensive knowledge of the business.
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We seek to develop our workforce in line with business
needs. Corporate education promotes training in the
skills necessary to achieve strategic planning objectives,
promoting programs and actions to meet the skills required
for the company’s new moment. GRI 404-2
The Performance Management
System (PMS) is based on the skill
assessment, encouraging feedback
and continuous dialogues between
managers and employees.
Learning solutions are planned and offered in:
» Culture and People;
» Communication and Institutional Relationship;
» Business Management;
» Operational Excellence;
» Innovation and Digital Transformation;
» Sustainability (learn more on page 34). GRI 404-2
During 2023, we focused on optimizing technical
and mandatory training, considering new hiring and
strengthening the company’s entry points. In this context,
we developed a new integration journey, to provide new
employees with a unique experience.
In line with our commitment to promoting a culture of
innovation, we implement educational actions focused
on Information Technology, Agile Methodologies,
Design, Analytics, Artificial Intelligence, Leadership,
Management and Engineering.
Among our development programs, we have the
Eletrobras Group Corporate University (Unise), which
supports the development of strategic professional skills,
including leadership skills. Since 2022, its training has
been available on the Unise Portal, a Moodle learning
platform focused on encouraging active teaching
methodologies, centered on the student as responsible
for the learning process. All employees have access to the
Portal and we have partnerships with training institutions,
such as Global Compact Network Brazil. GRI EU14
We also offer seminars, congresses, webinars and
postgraduate programs in face-to-face, online and
hybrid formats for all our employees. GRI EU14
Training and development
PERCENT EMPLOYEES RECEIVING PERFORMANCE REVIEWS GRI 404-3
2021
2022
2023
Men
Women
Total
Men
Women
Total
Men
Women
Total
Management
78
77
78
99
100
99
100
100
100
University level
73
73
73
99
99
99
100
100
100
Non-university level
72
74
73
99
100
99
100
100
100
Total
78
73
73
99
100
99
100
100
100
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Throughout 2023, 355.3 thousand training hours were carried out, totaling an average 42.7 training hours per employee. The reduction compared to previous years is due to the
company’s restructuring, which impacted annual planning, prioritizing mandatory and emergency actions. GRI 404-1
AVERAGE TRAINING HOURS PER EMPLOYEE BY POSITION GRI 404-1
2021
2022
2023
Management
73.08
92.19
52.05
University level
48.79
63.89
40.14
Non-university level
40.87
62.42
42.90
AVERAGE TRAINING HOURS PER EMPLOYEE BY GENDER GRI 404-1
2021
2022
2023
Men
51.05
65.47
44.21
Women
49.06
54.95
35.48
Presentation held during Eletrobras Day - Photo: Teresa Travassos
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At Eletrobras, we understand that diversity is an
important factor for business success, promoting
a wide range of knowledge and experiences and
fostering creativity and innovation. Diverse insights
tend to contribute to a more assertive and informed
decision-making, as they consider different
perspectives.
Our Code of Conduct provides that Eletrobras values
social and cultural diversity and individual differences,
repudiating any kind of discrimination or prejudice.
Diversity is also addressed in the Social Responsibility
Policy, Sustainability Policy and People Management
Policy. Furthermore, we are signatories to the United
Nations Women’s Empowerment Principles, and the
Elas Lideram (Women Leadership) Movement, from the
Global Compact, and we participate in the Gender and
Race Pro-Equity Program, from the Ministry of Women
in partnership with the Ministry of Racial Equality (learn
more on page 107).
The topic is part of our Strategic Plan (learn more
on page 28) and is present in our risk matrix, which
includes a specific Diversity and Inclusion protocol
(page 61).
In order to map, structure and plan future diversity
strategies and actions, in 2023 we conducted the
first “Diversity Census”, with open participation for
all employees, interns and young apprentices. The
purpose of the survey, which is still in the clearance
process, is to capture the demography and
perceptions of the workforce, which will enable the
structuring of a Diversity & Inclusion plan. GRI 405-1
In 2023, we formed the first affinity group
“Maternity and Parenting”. The group will be
accompanied by an external consultancy over 12
months, bringing important content and dynamics
to its conduct.
Another milestone of the year was the launch of
the Accessibility and Inclusion working group (WG),
in December, in reference to the International Day
of Persons with Disabilities (PWD), constituting the
group’s first integrated initiative dedicated to this
diversity agenda.
All of our stakeholders can report cases of
discrimination at Eletrobras on our Whistleblowing
Hotline (learn more on page 57).
In 2023, 11 cases* of discrimination were recorded,
involving in-house and outsourced professionals*.
All cases were investigated and six were considered
valid. Of these, five involved the same outsourced
employee, who was terminated. The other case
resulted in educational actions. GRI 406-1
Diversity and Inclusion GRI 3-3
*The discrimination cases occured in Eletronorte and
Santo Antônio Energia.
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RATIO OF BASIC SALARY AND REMUNERATION OF WOMEN TO MEN* GRI 405-2
2021
Basic Salary
Remuneration
Ratio of basic salary
of women to men
Ratio of remuneration of
women to men
Men
Women
Men
Women
Management
17.457.99**
17.660.17**
26.802.97
26.748.34
0.93
0.91
University level
12.077.51
12.280.79
16.713.34
16.387.74
0.90
0.84
Non-university level
6.376.19
6.323.18
9.475.63
8.387.92
0.90
0.89
2022
Basic Salary
Remuneration
Ratio of basic salary
of women to men
Ratio of remuneration of
women to men
Men
Women
Men
Women
Management
20.483.32
18.216.84
39.479.26
36.499.45
0.89
0.92
University level
15.945.42
15.760.16
20.042.61
19.821.77
0.99
0.99
Non-university level
9.015.12
8.812.17
11.573.32
11.603.31
0.98
1.00
2023
Basic Salary
Remuneration
Ratio of basic salary
of women to men
Ratio of remuneration of
women to men
Men
Women
Men
Women
Management
24,084.84
27,938.83
39,707.16
39,075.29
1.16
0.98
University level
16,044.03
14,740.97
26,633.50
22,891.14
0.92
0.86
Non-university level
7,810.49
7,503.25
14,440.87
12,150.25
0.96
0.84
** The male and female base salary figures for management level for 2021 were inverted in the 2021 and 2022 annual reports, and are corrected in this table.
* The data includes Eletrobras Holding, Furnas, Eletrosul, Chesf, Eletronorte and Eletropar. The assumptions for calculating the information are presented in the Indicators Booklet.
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2022
2023
2021
Men
Women
81
19
82
18
81
19
Awareness and Training
With the aim of engaging employees in the
topics of diversity and inclusion, we offer
corporate education content focusing on
Human Rights, Moral and Sexual Harassment,
Gender Equality and How companies can
support fundamental freedoms and who
defends them. GRI EU14
To celebrate the National Day for the Struggle
for Persons with Disability, dated September
21st, we held the webinar “The role of
people with disabilities in Eletrobras new
moment”, moderated by the Coordinator of
the accessibility and inclusion committee at
Eletrobras Chesf.
EMPLOYEE DIVERSITY BY GENDER (%) GRI 2-9, 405-1
2021*
2022*
2023
Men
Women
Men
Women
Men
Women
Governance body members**
-
-
-
-
90
10
Leadership
78
22
76
24
77
23
Employees
81
19
81
19
83
17
TOTAL EMPLOYEES BY GENDER GRI 405-1
*The data includes the permanent workforce of Eletrobras Holding, Furnas, Eletrosul, Chesf, Eletronorte and Eletropar. The assumptions for
calculating the information are presented in the Indicators Booklet.
**Gender data was not reported in 2021 and 2022 to governance bodies. The information refers only to the governance bodies (Executive
Board, Supervisory Board and Board of Directors) of the Eletrobras companies, not including the governance bodies of SPEs. To consolidate
the information, redundancies were excluded, that is, people who are part of more than one governance body or work in more than one of the
Eletrobras companies, in different governance bodies.
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Still celebrating the National Day for the
Struggle for Persons with Disability, the
coordinator of the accessibility and inclusion
committee participated in a hybrid meeting
at the headquarters of Eletrobras Furnas, in
Rio de Janeiro (RJ), with members of the CIPAs
of Eletrobras companies. The conversation
circle addressed the adequacy of the work
environment, from an inclusive point of view.
Also in September 2023, Eletrobras CGT
Eletrosul, in Florianópolis (SC), graduated 30
professionals of the company in the female
leadership course. The training was provided
by the Springboard Women’s Development
Program, in partnership with the Gender, Race
and Diversity Committee and the company’s
Corporate Education area.
2022
2023
2021
Under 30 years old
Over 50 years old
Between 30 and 50 years old
59
57
1
1
40
42
65
3
32
TOTAL EMPLOYEES BY AGE GROUP (%) GRI 405-1
Eletrobras is one of 16 Brazilian companies recognized with
the “Bloomberg Gender-Equality Index Seal”, showing that the
company presents diversity, equity and inclusion indicators and
practices above the average of its sectoral peers.
*The data includes the permanent workforce of Eletrobras Holding, Furnas, Eletrosul, Chesf, Eletronorte and Eletropar. The assumptions for
calculating the information are presented in the Indicators Booklet.
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EMPLOYEE DIVERSITY BY AGE GROUP* (%) GRI 405-1
2021
2022
2023
Under 30
years old
30 to 50
years old
Over 50
years old
Under 30
years old
30 to 50
years old
Over 50
years old
Under 30
years old
30 to 50
years old
Over 50
years old
Governance body**
0
34
66
0
38.8
61.2
0
52.0
48.0
Leadership
0
72
28
0.1
73.7
26.2
0.3
80.3
19.4
Employees
1
59
40
0.7
57.3
41.9
3.5
63.5
33
EMPLOYEE DIVERSITY BY MINORITY GROUP* (%) GRI 2-9, 405-1
2021
2022
2023
Black, brown, Asian
and indigenous
People with
disabilities
Black, brown, Asian
and indigenous
People with
disabilities
Black, brown, Asian
and indigenous***
People with
disabilities
Governance body**
0
0
14
0
10
0
Leadership
22
1
25.1
1.4
26
0.9
Employees
34
2
38.4
2.7
40.2
2.6
Eletrobrasidade Campaign
celebrates Brazilian diversity -
Photo: John Caldas
*The data includes the permanent workforce of Eletrobras Holding, Furnas, Eletrosul, Chesf, Eletronorte and Eletropar. The assumptions for calculating the information presented are detailed in the
Indicators Booklet.
**The information refers only to the governance bodies (Executive Board, Supervisory Board and Board of Directors) of the Eletrobras companies, not including the governance bodies of SPEs. To
consolidate the data, redundancies were excluded, that is, people who are part of more than one governance body or work in more than one of the Eletrobras companies, in different governance bodies.
*** 13% of members of Eletrobras’ governance bodies did not self-declare their race/ethnicity.
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Participation in Diversity and Inclusion agendas
» In March 2023, the Commission on the Status of
Women (CSW), a body dedicated to discussing and
promoting diversity, equity and inclusion (DE&I)
on a global scale, held the 67th meeting at the UN
headquarters in New York. The event featured an
intervention by Renata Petrocelli Bezerra Paes,
interim communications director at Eletrobras,
among other speeches by several female leaders.
» We participated in all editions of the Gender
and Race Pro-Equity Program, an initiative of
the Ministry of Women with UN Women and the
International Labor Organization (ILO), which aims
to achieve gender and racial equality in the world
of work.
» In 2023, we adhered the National Pact for the
Productive Inclusion of Youth, of the Ministry
of Labor and Employment (MTE), International
Labor Organization (ILO) and Global Compact.
The initiative is aimed at building a national
public policy, in partnership with governments,
companies, foundations, institutes and
organizations, to promote, by 2030, the
productive inclusion of young people in social
vulnerability situations.
Compliance Week - Foto: Claudio Ribeiro
107
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We consider occupational health and safety (OHS) a
priority and non-negotiable topic, and we act based
on the principles of excellence, social responsibility,
respect for people and sustainability. We understand
that promoting the health and well-being of
professionals is part of our value creation model, and
protecting their physical integrity is a duty of our
operation. GRI 2-24
To guide our actions in this regard, we rely on the
Occupational Health and Safety Policy, which provides
for the principles, guidelines and responsibilities to
promote safety related to the topic at Eletrobras. The
document provides direction and structure aimed at
creating objectives, guidelines, goals and actions to
achieve the expected results in managing the topic.
GRI 403-2
Additionally, we have the Eletrobras Organizational
Manual, which describes each of the company’s
positions, defining the roles of all hierarchical levels.
It includes the Occupational Health and Safety
responsibilities for the company’s organizational
units. GRI 403-7
As part of the company’s transformation process,
the year 2023 was marked by a series of structural
changes and initiatives aimed at centralizing and
improving the management of the topic, always
seeking employees’ health and well-being.
In this context, we created the Occupational Health
and Safety Department, with the aim of acting in a
corporate, strategic and integrated manner with the
OHS areas of Eletrobras companies. Its operations
were structured by segments, such as Operations,
Transmission, Expansion Engineering and Health
and Wellbeing, in order to bring its actions closer to
the company’s operations. GRI 403-1
The main health and safety initiatives are periodically
monitored through Safety Analytics, a database that
presents occupational health and safety indicators
via dashboards (learn more on the next page). All
strategic information is addressed on a monthly basis
in governance meetings, which take place at the
holding company and subsidiaries. GRI 403-2, 403-3
The OHS management model is being implemented in
Eletrobras companies in waves, with a series of actions
and incentive programs, guided by three fundamental
pillars: People, Processes and Systems (some of the
initiatives carried out during 2023 are presented on
the next page).
We currently have an Occupational Health and
Safety Management System (OHSMS), operating at
Eletrobras Chesf’s 11 hydroelectric plants, where it
was installed in 2020, based on ISO 45001. In 2023, by
centralizing strategic activities, the implementation of
the system in other Eletrobras companies became a
priority for our management. GRI 403-1
To this end, we are in the process of reviewing our
OHS regulations and implementing the NEXO EHS
software, which will integrate and manage the
Occupational Health and Safety areas of Eletrobras
companies. Nexo is a complex, flexible and integrated
solution that covers several modules, such as
occupational medicine, e-Social, social security
management, occupational safety, ergonomics
management and indicator management. GRI 403-1
Worker Health, Safety and Well-Being GRI 3-3
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“Tá Ligado”
Program:
A Health and Safety
Culture Program
that reinforces
the commitment
to promoting
comprehensive
health and safety
at work for all
employees. In
the initial phase
of the campaign,
employees got to
know the Manifesto
for Life.
Commitments
for Life:
Promotes responsible
conduct and attitudes.
Establishes safety rules
for 10 priority topics of
interest, encouraging
and disseminating safe
and healthy behavior.
Click here to learn more
about the program.
Safety
Analytics:
Business
Intelligence (BI) with
health and safety
data, presented
through modern
and dynamic
dashboards,
updated in real time
to support decision-
making.
Excellence and
Recognition
Program in
Occupational
Health and
Safety:
With a commitment
to seeking excellence
in health and safety, it
establishes requirements
for the organizational
management of the topic,
focusing on continuous
learning and the formation
of high-performance
teams.
Design of
Eletrobras’
Comprehensive
Health Model:
With all individual-focused
areas, the model is enabled
to prevent diseases, promote
health, well-being and quality
of life.
Health and safety initiatives implemented in 2023
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Our actions to minimize significant occupational health
and safety risks are directly linked to the responsibility
of ensuring a safe and healthy environment for
employees. To this end, we have the Risk Management
Program (RMP), which aims to protect the health,
physical and mental integrity and well-being of our
workforce, reducing accidents, improving the indicators
performance and ensuring compliance with legislation.
GRI 403-2
The Program involves regular risk assessments,
preventive and corrective measures and continuous
monitoring, so as to ensure that safety standards are
followed in our operations. GRI 403-2
We also have OHS management tools, focused on
eliminating unsafe behaviors and conditions, such as
Preliminary Risk Analysis (PRA), Behavioral Observation,
Safe Practices Index (IPS) and Safety Inspections.
The tools are applied and led by the managers of the
operational units, together with occupational safety
professionals and CIPAs. GRI 403-2
Both in-house and outsourced professionals
participate proactively and effectively in behavioral
observations, forums and safety meetings, reporting
risk situations, and whenever possible, suggesting
improvements. GRI 403-2, 403-7
Furthermore, the internal Occupational Health and
Safety Incident Management procedure, published
in 2023, establishes guidelines for the classification,
recording, investigation, analysis, documentation
and communication of incidents, which include
typical accidents, commuting accidents, occupational
diseases, near-accidents and critical deviations. GRI
403-2, EU21
The process is led by the investigation committee, a
multidisciplinary team that aims to identify the root
causes and propose measures to avoid recurrences
of the same nature. The lessons learned are shared
between the teams and Working Groups are formed
to study and structure the processes arising from high
potential occurrences. GRI 403-2, EU21
We seek to guarantee the quality of these processes
through management tools, efficient communication
between the teams involved in the process and
training and qualification for the teams that identify
hazards and risks. GRI 403-5
According to the Eletrobras Group Occupational
Health and Safety Policy, Professionals have the right
to refuse carrying out an activity when they notice a
situation that, in their opinion, involves a serious and
imminent risk to their life and health. GRI 403-2
Contracted service providers are subject to the same
local OHS procedures of Eletrobras, in accordance with
our Occupational Health and Safety Policy. GRI EU16
Health and safety risk assessment
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Employee and workplace health are monitored by the
Specialized Workplace Medicine Engineering Service
(SESMT), the area responsible for compliance and
adjustment to current legislation and for implementing
the best practices in prevention regarding employee
safety and health.
GRI 403-3, 403-4
We have an occupational health area, made up of
professionals such as occupational doctors, technicians,
nurses, social workers and psychologists, who work to
promote employee health. GRI 403-3
The team is responsible for implementing the
Occupational Health Medical Control Program (PCMSO)
of Eletrobras companies, which aims to track and
detect work-related health risks, ensuring continuous
improvement in the workplace. GRI 403-3
The area is also responsible for a series of other essential
activities for the company, such as: GRI 403-3
» Advice on health, safety, workplace hygiene,
ergonomics and individual and collective protective
equipment;
» Participation in work practices improvement and new
equipment inspection programs;
» Collaboration in the dissemination of information,
training and education in occupational health and
hygiene and ergonomics topics;
» Annual examination of professionals, with clinical-
laboratory assessments, in addition to other
occupational examinations.
Health Promotion Services
We also offer a series of services aimed at promoting
employee health, such as: GRI 403-6
» Self-managed health care insurance plans for
professionals and their dependents, both medical,
hospital and dental, through payment of co-
participation on the amounts spent and a monthly
fee. Reimbursement of health care expenses for care
outside the accredited network is part of the offer;
» Market operator-managed health plan for executives
and their dependents. Offers reimbursement for
procedures carried out outside the accredited
network and includes annual Executive Check-Up;
» Remote telemedicine care, with a healthcare team for
employees and their dependents;
» Removal service with provision of emergency care
services;
» On-call services outside working hours, including
weekends and holidays;
» Reimbursement of drugs with 75% coverage by the
company;
» Caregiver reimbursement allowance.
Employee Health
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Well-being practices
In 2023, we implemented the Gympass program, for physical, mental and nutritional
activities for employees. We also expanded the Equilibramente program, which supports
employee emotional balance, working through access to a well-being app, lectures,
conversation circles with experts and consultations with psychologists. In this context, we
maintained the functioning of the Psychosocial Support Network, made up of psychology
and social service professionals from the company for online service. GRI 403-6
With a focus on improving quality of life, we provide check-ups and promote integrated
campaigns, aimed at publicizing topics such as flu vaccination, mental health, awareness
on the importance of breastfeeding, valuing life and suicide prevention, healthy eating,
physical activities and prevention of diabetes, breast and prostate cancer. GRI 403-6
Comprehensive Healthcare Program
In 2023, we implemented a new
model for our health initiatives,
based on the principle that each
individual is unique, with their own
characteristics.
The Program is based on national
and international references, such
as the World Health Organization
(WHO), the International Labor
Organization (ILO) and the Brazilian
Association of Quality of Life
(ABQV), in addition to internal
studies related to the population
profile and employee health.
Based on this, we implemented
a series of initiatives aimed at
physical, mental, spiritual and
social environment care, seeking
to contribute to self-care in
relation to the main dimensions
that form the individual.
Therefore, we seek to evolve
towards a continuous, unified and
integrated health model, in which
preventing diseases, promoting
health and well-being and quality
of life is a commitment shared by
everyone.
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Employees participate in health and safety management
through our OHS Governance Forums, structured into
three levels: GRI 403-4
» OHS Results Meeting: held at the Officer level, with the
participation of the OHS Officer, People, Management
and Culture Officer, Operations and Safety Officer,
Supplies and Services Officer, Expansion Engineering
Officer, Innovation, R&D, Digital and IT Officer and
Eletrobras companies’ Boards.
» Executive OHS Critical Analysis Meeting: held at
the company’s board level, includes the company’s
chairman and officers, in addition to operation,
engineering, OHS managers and contractor leaders.
» OHS Critical Analysis Operational Meeting: at the
operational level, includes operation, engineering, OHS
managers and contractor leaders.
The main topics covered in the agendas of the OHS
Governance Forums are health and safety culture,
digital transformation, indicators and lessons learned
from incidents.
Employee Engagement
receive training according to their role and the
mapping of risk areas, based on the Risk Management
Program (RMP) survey. The training matrix has a
total of 50 courses, aimed at specific functions in the
company. GRI 403-5
Employees are considered capable and qualified to
receive equipment and tools for use in the operation
after the issuance of the health certificate and proof of
physical and mental fitness. GRI 403-3
Regarding third parties, training and provision of
equipment are the responsibility of the contractors,
as stipulated in the contract, and evidence must be
recorded on a specific platform or presented during
contractual verifications. GRI EU16
The service provider must guarantee that the workforce
dedicated to the contracts is properly trained, qualified
and authorized to work on the company’s facilities.
Nonetheless, third parties undergo onboarding to detail
operational risks and control measures by Eletrobras
team. GRI EU16
Additionally, we have Internal Occupational Accident
Prevention Committees (CIPAs), made up of elected
representatives of employees and representatives
appointed by the company. It works as a representation
for discussion and proposals for improvements in the
workplace, with a focus on preventing accidents and
occupational diseases, acting at the interface between
the company and the operational team. Currently, 100%
of the employees are represented in the CIPA. GRI 403-4
26.53%
Communication and training
In 2023, we launched the “Commitments for Life”
Regulation, with the aim of encouraging and
disseminating safe and healthy behavior across all areas
and units of the company. The piece and its guidelines
were published in news posted on the intranet, videos
and by email. GRI 403-2
With the aim of increasing team engagement and
training them in the best OHS practices, employees
of the clauses of our Collective Bargaining Agreement
refer to health and safety
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1 The lost-time injury frequency rate (TFA), incident frequency rate (TF) and severity rate (TG) use the following calculation for hours
worked: the number of employees in the month, obtained through the SAP system, multiplied by the standard value of 167 hours/
month (HHT = number of employees x 167). For the SPEs Brasil Ventos, Santo Antonio and Teles Pires, the following calculations are
considered: the annual average of monthly hours worked on December 31, 2023.
2 The Eletrobras database does not include indicators of accidents with outsorced profissionals.
3 These rates consider 1,000,000 hours of risk exposure, as per NBT 14.280.
4 Commuting accidents are treated separately and are not included in the usual calculation of frequency and severity rates.
As a result of all these actions, in 2023, we observed an accident
frequency rate of 3.39, 8.4% lower than in the previous year,
among the personnel employed by the company. GRI 403-9
Based on RMPs, risk analyses and occurrences recorded in
2023, the main hazards are associated with vehicles and mobile
equipment, electricity and working at heights. By analyzing this
data, we implemented measures to minimize these risks, including
the establishment of Commitments for Life (learn more on page
109), the systematization of risk assessment and OHS tools (page
110) and comprehensive health programs (page 112). GRI 403-9
Although the data does not reflect incidents occurred with
outsourced professionals, we regretfully recorded the occurrence of
three fatalities among this audience. The actions resulting from the
incident investigative processes have become part of our culture
and planning project, to make our daily lives safer and healthier.
We worked diligently throughout 2023 to advance our health
and safety management systems so that we can more accurately
control information relating to third parties. We reiterated
Health and Safety as non-negotiable values of our business,
and the objectives of all our processes converge towards zero
accidents. GRI 403-9
Work Accidents
WORK-RELATED INJURIES AND DISEASES AMONG OUR EMPLOYEES* GRI 403-9
2021
2022
2023
Frequency of Lost-Time-Accidents (LTA) - (lost-
time accidents/man-hours worked)
2.35
2.6
2.09
Frequency rate (FR) – (accidents/man-hours worked)
3.86
3.7
3.39
Severity Rate (SR) – (days lost/man-hours worked)
86.03
894.9
54
Number of employees – monthly average
-
11,277.08
9,467
HHTER
-
22,598,440
19,184,194
Absolute number of lost-time injuries (equal
to or less than 15 lost days) – employees
-
47
36
Absolute number of lost-time injuries
(more than 15 lost days) – employees
-
11
4
Absolute number of no-lost-time injuries – employees
-
26
25
Total absolute number of accidents -
employee (includes fatalities)
-
87
65
Man-days lost (employees)
-
2,224
1,037
Number of fatalities
-
3
0
Number of accidents with serious consequences
-
-
13
Number of accidents with mandatory reporting
-
87
65
Index of fatalities resulting from accidents at work
-
0.13
0
Index of accidents with serious consequences
-
-
0.68
Index of accidents with mandatory reporting
-
-
3.39
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Human Rights
Given the nature of our generation and transmission
activities, we are subject to risks related to human rights
violations, whether during the construction or operation
phase of our projects, in administrative activities or in
partnerships with suppliers.
Therefore, we seek to act in compliance with regulations
and best practices on the topic, inhibiting actions that
could lead to violations. In this sense, since 2018, we
have been signatories to the Open Letter Companies
for Human Rights, proposed by the Ministry of Human
Rights. GRI 2-23
In line with the United Nations (UN) Guiding Principles
on Business and Human Rights, our Code of Conduct
addresses guidelines related to the human rights of
employees, communities and other stakeholders. GRI 2-23
The document establishes, for example, that we do not
condone any labor practice that could be considered
degrading, forced, slave or slave-like, child, abuse or sexual
exploitation of children and adolescents and human
trafficking, in our activities or in the value chain. GRI 2-23
The Code also provides that people must be treated with
respect and cordiality, valuing social and cultural diversity
and individual differences, providing everyone with equal
treatment and fair working relationships.GRI 2-24
We repudiate any kind of
discrimination or prejudice based
on social, cultural, ethnic origins or
related to nationality, gender identity,
skin color/race, age, religion, political
opinion, sexual orientation, physical,
psychological and mental conditions,
or any characteristic.
Our Social Responsibility Policy states that, in the
interested party engagement and relationship process,
we must pay special attention to vulnerable groups
directly or indirectly affected by our activities, with
an emphasis on traditional communities, indigenous
people, children and adolescents, the black population
and women. GRI 2-23
Currently, a review of the Social Responsibility Policy and
the creation of a specific Human Rights policy are under
appraisal.
To disseminate these guidelines among our employees,
the Sustainability Pathway of our Corporate University -
Unise (learn more on page 100), provides virtual classes
on topics such as human rights, moral harassment and
sexual harassment, diversity and inclusion and gender
equality, among others. We also held three lectures
covering human rights topics, with a focus on senior
leadership (learn more on page 46).
In order to evaluate and mitigate the risks of our
operations, environmental impact studies of the projects
encompass human rights in the communities. We also
carry out impact assessments to identify areas of risk in
relation to human rights in the company. GRI 2-24
Furthermore, part of our risk assessment matrix (learn
more on page 61) is the verification of topics such
as Violation of Human Rights by Suppliers; Violation
of Human Rights in SPEs and Diversity, Equity and
Inclusion. GRI 2-25
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In July 2023, we pioneered a Human Rights Impact
Assessment (AIDH) at the Paulo Afonso Hydroelectric
Complex, which includes our oldest plants in
operation. The initiative is conducted independently
by two contracted consultancies, and involved
listening to different audiences, including employees,
service providers and local leaders.
This is the first independent AIDH in the Brazilian power
sector, a milestone that reinforces our leadership role in
the business and Human Rights agenda. The plan is to
replicate the study for more operations in the company
from 2024 onwards, including SPEs.
Reinforcing our engagement with
the topic, we lead the Human Rights
Working Group for the Power
and Energy Sector of the Global
Compact, made up of 30 companies
and entities in the power sector.
Na Mão Certa
Since 2022, we have joined the “Na Mão
Certa” Program, a Childhood Brasil initiative
that promotes joint efforts to end the sexual
exploitation of children and adolescents in
different links in the production chain.
In 2023, our work became a case of the Program,
as a good practice aimed at the company’s young
audience, which includes young apprentices and
interns. The initiative consisted of promoting our
internal protection network in favor of this audience.
In the 1st semester, actions and conversation circles
were held with supervisors, mentors and the
companies’ young apprentices and interns. In the
2nd semester of 2023, a conversation circle was held
with representatives of young apprentice and intern
companies to reinforce the importance of the topic
and detail the action plan.
The group’s objective is to promote the internalization
of the Guiding Principles on Business and Human Rights,
and a series of actions were carried out in 2023, including:
» Due diligence training for employees in companies
participating in the group;
» Publication of a Practical Guide with cases from the
sector;
» Analysis of Bill (PL) 572/2022, currently being
processed in the National Congress, which creates the
national framework on Human Rights and Business.
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Respect for human rights in supplier relationships
With the aim of reinforcing our position in favor of
human rights, we developed a series of awareness-
raising actions with suppliers to raise awareness on our
values, policies and public commitments. This dialogue
is carried out through exhibition forums and debates
at annual meetings with suppliers, in addition to the
production of monthly informative materials made
available on the Suppliers Portal. GRI 407-1
In 2023, our analyses showed that 623* contracts from
Eletrobras companies indicated a risk of child labor,
slave or slave-like labor. We consider that outsourced
service providers with labor allocated to Eletrobras are
the most susceptible to this type of risk. GRI 408-1, 409-1
With the aim of curbing these practices, mitigating
risks and promoting supplier awareness, Eletrobras
Supplier Conduct Guide includes an express prohibition
on human rights violations. In the contracts, we
include specific clauses reinforcing that the contracted
company must guarantee fundamental human
rights and worker rights, including free association,
negotiation, fair remuneration and benefits. GRI 407-1
The contracted company must combat any and
all forms of discrimination and must not use child,
forced or compulsory labor in any of its activities.
These obligations must also be required from all
subcontractors, service providers and suppliers.
GRI 408-1, 409-1
We establish penalties for non-compliance with
these clauses, and the supplier is constantly
monitored through administrative and technical
monitoring of the contract throughout its term.
GRI 407-1, 408-1, 409-1
SECURITY PERSONNEL WHO RECEIVED TRAINING IN HUMAN
RIGHTS POLICIES OR PROCEDURES GRI 410-1
2021
2022
2023
Total security personnel employed by the company
235
12
0
Total outsourced security personnel
1,730
2,386
1,947
Total security personnel (directly employed and outsourced)
1,965
2,398
1,947
Number of directly employed security personnel
trained on human rights policies or procedures
13
10
0
Number of outsourced security personnel trained
on human rights policies or procedures
553
1.202
925
Percentage of directly employed and outsourced security
personnel trained on human rights policies or procedures
28.80%
50%
47.5%
*The data includes Eletrobras Holding, Furnas, Eletrosul, Chesf, Eletronorte and SPEs Eólica Ibirapuitã, Brasil Ventos and Baguari.
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Relations with Communities GRI 3-3
The construction and operation of power generation
projects and transmission systems have the potential
to generate positive and negative socio-environmental
impacts on surrounding communities, resulting from a
series of factors, including, but not limited to population
displacement, increased job availability and restriction
on land use.
Therefore, from the planning stage to asset operation,
our Code of Conduct provides for the commitment
to contribute to a sustainable development of the
communities in our areas of operation, by considering
their specificities, listening to their manifestations and
respecting their cultures. All social groups involved must
be considered, in order to identify their expectations
and needs, aiming to compensate and minimize
negative environmental, social and cultural impacts
and encourage positive ones (find out about our
communication channels on page 13). GRI 2-25, 203-2
Our relationships with the communities is guided
by Eletrobras’ Environmental , Social Responsibility,
Communication and Engagement and Dam Safety
policies. GRI EU20
LOCAL COMMUNITY ENGAGEMENT GRI 413-1
2021
2022
2023
Number of operations with local community engagement, impact assessment,
development, and other programs
632
749
850
Percentage of operations with engagement programs (%)
71.17
81.68
87.65
Through socio-environmental diagnosis, carried out
during the Environmental Impact Studies, and socio-
economic register of those affected, we can identify
the existence of social groups in vulnerable situations
in the territory and assess the risks and impacts of the
projects on these groups and on the local physical and
institutional structure. GRI 413-2
The measures proposed in the environmental
permitting procedures express our commitment to
preventively search for engineering solutions that
avoid or lessen impact on people and the environment.
For each negative impact identified, mitigation and
compensation actions are proposed, as indicated by
the Basic Environmental Plan (PBA).
Handling of these impacts is monitored through
socio-environmental programs, which are part
of the projects’ environmental permitting, and
complementary social responsibility initiatives, such
as the Public Notices for Socio-Environmental Projects
and Cultural and Sports Sponsorships, aimed at
communities and other stakeholders in the territories
where the company operates.
* The generation and transmission assets of the Eletrobras companies are considered.
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Impact on communities
Our activities can generate greater or lesser social impact,
depending on the characteristics of the projects and the
regions where they are implemented. Currently w have
operations distributed across all regions of the country
(learn more on page 21). GRI 413-2
The table below describes the type of activity or project
in which the impact occurs most frequently and the most
common mitigation or compensation actions. GRI 2-25, 413-2
POTENTIAL IMPACTS ON SURROUNDING COMMUNITIES GRI 413-2
Type of activity/project
Possible impacts
Examples of mitigation/compensation measures
Hydroelectric, thermal,
wind, and solar power
plants, and transmission
systems
High expectations among local and regional
communities and emerging/increased social
tensions
CIS
Restricted land utilization
CIS, EA, RAP, RAD
Increased migration flows
CIS, EA, AI, RU, SP
Economic stimulus
CIS, AI, QM, DAP
Higher municipal tax revenues
CIS, AI, DAP, FAP
Increased offer of direct job opportunities
during construction
CIS, AI, QM
Increased technical and scientific knowledge
about the region
CIS, EA
Adverse effects on touristic potential
(degradation of scenic beauty)
CIS, RAT
Adverse effects on scenic, paleontological,
archaeological and cave sites
CIS, EA
Paleontological and archaeological research,
monitoring and salvaging, and protection of scenic and
cave sites.
Impacts on traditional, indigenous and/or
other ethnic communities
CIS
Support for affected communities as outlined in
Indigenous Component Studies and Basic Plans for
Indigenous Components
Hydroelectric plants and
wind farms
Impacts on ways of life and social and cultural
relationships
CIS, EA, AS, APA
Increased Value of the Patrimony
Increased real estate speculation
CIS, RU
Key for mitigation and compensation actions
Institutional coordination..............................................................................AI
Social support...................................................................................................AS
Support for affected communities..........................................................APA
Communication and social interaction....................................................CIS
Development of livelihood activities......................................................DAP
Environmental education..............................................................................EA
Public management support..................................................................... FAP
Rehabilitation of disturbed land..............................................................RAD
Recomposition of livelihood activities...................................................RAP
Restoration of touristic and recreational activities............................RAT
Urban rehabilitation....................................................................................... RU
Public health......................................................................................................SP
Professional training.....................................................................................QM
Understand and learn about some mitigation
actions in the Community Relations
Complementary Booklet.
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POTENTIAL IMPACTS ON SURROUNDING COMMUNITIES GRI 413-2
Type of activity/project
Possible impacts
Examples of mitigation/compensation measures
Hydroelectric plants
Compulsory relocation of urban and rural
communities
CIS, APA, RAP, AS
Loss of livelihoods (farming, non-timber forest
products, mining, fishing)
CIS, APA, RAP
Disruption/loss of transportation routes and
communications systems
CIS
Road improvements and repairs
Thermal power plants
Adverse effects on air quality from particulate
and dust emissions, etc.
CIS
Air quality monitoring, installation of equipment to
reduce these emissions
Wind farms
Moving shadows and/or reflections
(stroboscopic effect)
Avoid developing solar farms near populated areas
Solar farms
Flash blindness
Avoid developing solar farms near populated areas
Transmission lines
Presence of maintenance crews on
rights-of-way
CIS, EA
Specific initiatives addressed to indigenous
communities
Transmission lines noise
CIS
Increased vulnerability
CIS
Territorial protection, strengthening of indigenous
organizations (in the case of indigenous reserves),
support for livelihood activities, awareness raising
about the environment and indigenous peoples,
environmental education
Impact assessment
When planning each project, we carry out
Environmental Impact Assessments to
identify and qualify the local impacts, as well
as presenting proposals for mitigation and
compensation measures.
This activity is one of the stages in the
environmental licensing process and follows
the guidelines of the National Environmental
Council Resolution (CONAMA 01/86), which sets
out the basic criteria and general guidelines for
assessing the impact of projects.
Key for mitigation and compensation actions
Institutional coordination..............................................................................AI
Social support...................................................................................................AS
Support for affected communities..........................................................APA
Communication and social interaction....................................................CIS
Development of livelihood activities......................................................DAP
Environmental education..............................................................................EA
Public management support..................................................................... FAP
Rehabilitation of disturbed land..............................................................RAD
Recomposition of livelihood activities...................................................RAP
Restoration of touristic and recreational activities............................RAT
Urban rehabilitation....................................................................................... RU
Public health......................................................................................................SP
Professional training.....................................................................................QM
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In 2023, there was no work
involving people displacement
at Eletrobras. GRI EU22
Eletrobras Environmental Policy provides that, when
developing a new project, we must reduce and
mitigate impacts on local communities, keeping the
population to be physically displaced to a minimum
and even avoiding compulsory displacement. GRI EU20
Our Environmental Impact Studies, following
the Terms of Reference issued by environmental
bodies, identify and characterize the impacted
population through the application of qualitative
surveys and through socioeconomic and real estate
records. GRI EU20
Based on the feasibility studies, more meetings are
held with local communities, in order to consider
their experiences, expectations and demands when
assessing impacts and proposing environmental
actions to compensate and minimize impacts. GRI EU20
During this process, we establish a plan for social
communication and interaction with the population,
engaging various – formal or informal – locally-
indicated representation bodies. GRI EU21
Guidelines also provide that during the reparation
process we must always seek negotiation, offering a
plurality of options, such as collective resettlement,
self-relocation and simple indemnity. GRI EU21
Population displacement
Find out more about the population
displacement management process in our
Complementary Community Relationship
Booklet.
Environmental Education Program
for the fishing community, in Nova
Ipixuna, Pará - Eletrobras File
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Eletrobras Group Environmental Policy has
specific guidelines for relationships with host
communities, focusing on communication and
education. Our guideline is to promote ethical
and transparent dialogue, which supports
qualified engagement and relationships with
communities, recognizing their culture, ways
of social organization and the representatives
appointed by them. GRI EU20
In this sense, we implement Social
Communication Plans (PCS) in our projects,
with the aim of creating initiatives that allow
communication with communities in the
potentially affected area. In this communication,
we seek to provide data on previous studies, our
objectives at that location, ongoing activities and
results. GRI EU20
Furthermore, we collect data on the
communities’ expectations, way of life and
form of participation, through meetings that
are held during socio-environmental studies.
GRI EU20
In the case of PCS, there is also the possibility
of setting up local offices, which also serve as
a point of contact with residents, developing
communication campaigns, advertising on
the institutional website and producing other
informative materials, which include information
to contact the company. PCS have performance
indicators, which are monitored for improvement.
GRI EU20
Communities can also contact the company
through the Whistleblowing Channel, Contact
Us page and other corporate listening channels.
GRI EU20
Eletrobras Group Social Responsibility Policy also
establishes guidelines relating to private social
investment, voluntary socio-environmental
actions, support for sustainable local
development, characterization of vulnerable
groups, diversity and inclusion practices,
among other topics related to interaction with
communities.In 2023, the Social Engagement
area was created, responsible for managing this
topic within the company.
Interaction with communities
Madeira River hydroelectric inventory study
Together with Companhia Nacional de Electricidad (Ende) and the
Development Bank of Latin America and the Caribbean (CAF), we
contracted the development of hydroelectric inventory studies
for the binational stretch of the Madeira River, between Brazil
and Bolivia. The work was developed in an innovative way, by
implementing a Social Communication Plan (PCS) in the early stages
of the process. This decision came from the need to inform and
engage the population since the early planning phase. GRI 413-1
The PCS operated from March 2018 until May 2020, when it
was interrupted due to the Covid-19 pandemic. At this stage, we
provided specific channels for dialogue with populations, such as
telephone, WhatsApp, consultation boxes distributed at strategic
points in the study area, website, clarification meetings with
communities, Information Center, fortnightly visits to communities
and interactions with the population. GRI 413-1
In the first half of 2023, studies were authorized to be resumed
and the main activity was the completion of the Integrated
Environmental Assessment. At this stage, the main stakeholders
were invited to technical meetings held in Brazil and Bolivia, in which
we presented the alternative selected in inventory studies. GRI 413-1
To complete the Integrated Environmental Assessment, Public
Seminars were held in both countries in August. GRI 413-1
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Emergency Action Plans
Following the National Dam Safety Policy, Eletrobras plants have Emergency
Response Plans (PAEs), which bring together the necessary actions to protect
populations, properties and the environment located downstream of the dams
in cases of an emergency. GRI EU21
The PAE of each plant includes the list of internal and external agents that
must be contacted in the event of an emergency, and provides relevant
information to the civil protection and defense authorities, to assist them in
the preparation of the respective municipal contingency plans and external
emergency management. GRI EU21
The documents are periodically updated, in order to keep emergency contacts
always up to date. GRI EU21
The PAEs are submitted to the city halls and civil defense bodies of the
affected locations and are available on an online platform for the agents
involved. Currently, our plants are in different stages of plan implementation,
some with active plans and others in the installation or simulation phase. GRI
EU21
In 2023, for example, we first contacted residents of communities downstream
the Barra do Rio Chapéu (SC) and Passo do São João (RS) Hydroelectric
Power Plants, which allowed us to identify the main vulnerabilities, demands
and specificities that could contribute to the effectiveness of the plants’
Emergency Action Plan (PAE).
Emergency evacuation simulation at the Tucuruí Plant
In November, we promoted the first Emergency Evacuation Simulation at the Tucuruí
hydroelectric plant in the municipalities of Tucuruí (PA) and Breu Branco (PA) — the
largest simulation of its kind ever carried out in the country. Planned and carried out
in partnership with the municipalities’ Civil Defense bodies, the event was attended by
more than 100 professionals, and mobilized approximately 25 thousand people in 7 days
of activities.
To encourage public participation, we use several local communication channels.
During the event, residents needed to act as if they were experiencing a real emergency
situation, simulating their response to sound alerts installed at strategic points in the city
and using the Escape Route and Meeting Points signs installed as guides. The initiative is
part of the final stage of the Plant’s Emergency Action Plan (PAE) implementation.
Tucuruí Plant - Eletrobras File
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Flooding repair in Capitolio (MG)
In January 2023, above-average rainfall in the municipality of Capitolio (MG) led to
the overflow of the Piumhi River and lakes adjacent to the urban perimeter, causing
flooding on public roads and residences. In cooperation with the municipality, we
provided an ambulance to serve the population and mobilized resources to restore
vehicle access in the region.
In August, we signed a Term of Commitment and Legal Agreement with the Public
Ministry of Minas Gerais, the Government of the State of Minas Gerais, Instituto
Mineiro de Gestão das Águas (IGAM) and the Municipality of Capitólio, with the
purpose of establishing actions to control flooding in the Piumhi River backflow
channel and repairing damage. The agreement provides for a transfer of R$3.3 million,
distributed across:
» donations for families and businesses affected by the flood;
» resources to Capitólio Municipal Environmental Fund and the Environmental
Protection Association (ARPA-Passos) for allocation to environmental
protection projects;
» support to the municipality with expenses related to the restoration of urban
infrastructure affected by the flood.
Additionally, since January 2023, we have carried out works and services necessary
for the desilting and maintenance of the channel. The agreement also provides for
the preparation of an operation, monitoring and periodic maintenance plan for the
Piumhi River backflow channel and payment to the municipality to prepare and
execute a contingency and communication plan for the case of floods in the channel.
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During the elaboration of environmental studies for
each project, we identify possible impacts on traditional
communities – such as quilombolas and indigenous
people. In these cases, we conduct additional studies
and approve specific programs with the environmental
licensing body, so that cultural aspects and identities are
preserved and interference is minimized. GRI 413-1
We submit periodic reports to the environmental body,
covering the execution of proposed actions, as well as
maintaining constant contact with the national bodies
responsible for each community, such as the National
Institute for Colonization and Agrarian Reform (Incra),
the Palmares Cultural Foundation and the National
Indigenous Foundation (Funai). GRI 413-1
Eletrobras Group Environmental Policy establishes
specific guidelines for communication with indigenous
communities. Engagement actions with this audience
must take ethnic and linguistic issues into consideration,
in order to establish a permanent dialogue with those
involved with the projects, with the aim of creating
mutual trust relationships. GRI 411-1, 413-1
Indigenous people and traditional communities GRI 3-3
As part of our communication strategy, we work mainly
through Basic Environmental Plans - Indigenous
Component (PBAI-CI), prepared and managed by a
professional team, with the participation of indigenous
communities. Thus, we can identify problems and take
measures to mitigate or compensate them. GRI 411-1, 413-1
In this sense, we are currently working to create an internal
procedure to carry out Free, Prior, and Informed Consent
(FPIC) with indigenous people and traditional communities
in cases where projects may affect these communities or
their territories. FPIC is a right recognized in national and
international regulations, such as the International Labor
Organization (ILO) Convention 169, and internalized into
Eletrobras’ commitments. GRI 411-1, 413-1
Relationships with
45
24
indigenous
lands*
ethnic
groups*
R$ 14 million
invested in voluntary projects and actions focused
on the development of traditional communities
and indigenous peoples
* Includes MESA and Teles Pires.
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Kayapó Mekrãgnoti Program GRI 413-1
In 2023, Eletrobras continued its involvement in
the project with Kayapó indigenous communities in
the middle Xingu river, in Southern Pará, covering
around 1,500 indigenous people and ten villages.
Arising from a commitment made in the licensing of
Belo Monte hydroelectric plant, this project is carried
out in partnership with the National Indigenous
Foundation (Funai), Norte Energia and Instituto Kabu,
which represents the so-called Kayapó do Oeste, the
representative institution of the Kayapó people.
The action resulted in an institutional strengthening of
the executing indigenous associations, the inspection
and protection of indigenous lands involved, the
promotion of sustainable economic activities and the
cultural appreciation of the Kayapó ethnic group.
Projects are financed by Norte Energia, with a total
investment of R$11 million from 2018 to 2023.
Eletrobras is responsible for monitoring and managing
the relationship with communities, in a region of
strategic interest for the company’s business.
Still in 2023, Associação Floresta Protegida (AFP) was
hired by Eletrobras to lead a participatory process
to renew the third cycle of projects aimed at the
Eastern Kayapó communities. This new cycle follows
the completion of the second one, which took place
in 2019. The objective is to actively engage the 39
villages associated with and benefiting from the
association’s work, collaborating in multiple stages for
the detailed design of a new plan. The project will cover
the definition of specific actions, a detailed schedule,
progress indicators, tangible targets and budget
allocation, and will be carried out over a total period of
five years.
Dialogue with indigenous
peoples at Teles Pires Plant
In 2023, we began to consolidate 100% of Teles Pires
Hydroelectric Plant operation (learn more on page
23). Built on the Teles Pires River, a tributary of the
Tapajós River, on the border between the states of
Pará and Mato Grosso, the plant carries out 18 socio-
environmental programs with the Kayabi, Munduruku
and Apiaká indigenous peoples.
A highlight of the year was an agreement signed
between UHE Teles Pires, the Federal Public Defender’s
Office and Munduruku representatives from the Baixo
Teles Pires region, so that they could carry out sacred
ceremonies close to the plant, in a place where ceramic
vessels were buried. A cooperation agreement is being
drawn up between those involved, so that visits can
take place in an organized manner, twice a year.
This partnership reflects a joint effort to promote
respect for the culture and traditions of the Munduruku
people, recognizing the importance of their sacred
rituals and the need to preserve their cultural
significance sites, in addition to promoting harmonious
coexistence between local communities and projects
developed in the region.
SPE Santo Antônio, which we also took control of in
2023, is in talks with the Karipuna indigenous people
about drawing up the project’s Basic Environmental
Plan (PBA).
Find out more about other initiatives to engage
indigenous peoples carried out at the Teles Pires
Plant in the Complementary Community Relationship
Booklet and the Energia a Limpo website.
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Support for Queimadas Indigenous Land GRI 413-1
The Kaingang Infrastructure, Sports and Culture project
includes the construction of a community kitchen, a
multipurpose space and a multi-sports center in Kaingang
indigenous people’s territory, in Queimadas Indigenous Land,
located in the municipality of Ortigueira (PR).
Between 2022 and 2023, we delivered the community
kitchen, the multipurpose space and the football field
with changing room, bleachers and common area. During
this period, we also began negotiations to carry out
another project in the community, which aims to use the
infrastructure delivered for cultural recovery, professional
training and food security initiatives.
The three communities covered were involved in a
participatory process to choose the actions to be
implemented, through an agreement signed between
Eletrobras Furnas, the Public Ministry and Funai.
The implementation of community socialization spaces
contributes to strengthening the ethnic-cultural identity
of the Kaingang people, benefiting 785 residents of the
community. Additionally, we donated basic food baskets and
personal hygiene supplies, helping to promote food security
and health for the population.
Find out about other actions by Eletrobras
companies with indigenous peoples in the
Complementary Community Relationship
Booklet.
Find out about other actions by Eletrobras
companies with indigenous peoples in the
Complementary Community Relationship
Booklet.
Opening of multipurpose space in the
Kaingang community - Eletrobras File
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Manaus - Boa Vista Line
Through our participation in SPE Transnorte
Energia (TNE), we worked in Roraima connection,
the only Brazilian state that is not yet part of the
National Grid. When in operation, Manaus – Boa
Vista Transmission Line will be a safe source of
quality power supply for the state, reducing current
dependence on fossil fuels.
The Transmission Line consists of a double circuit,
three substations and about 1,400 towers over 721
km, 122 km of which are within the Waimiri Atroari
Indigenous Land. Regarding possible environmental
impacts generated by the project, TNE prepared
a Basic Environmental Plan, approved by IBAMA,
which includes a series of environmental programs
aimed at enhancing positive impacts and minimizing
negative ones.
At Waimiri Atroari TI, the transmission line will run
parallel to BR-174 road. All environmental programs
and operational and construction procedures
were presented and discussed with the indigenous
community and approved by Funai and Ibama,
aiming to ensure that impact on lives, routine and
land of the Waimiri Atroari people is as small as
possible. Here are some examples:
»
All towers built in the stretch will be raised (around
100 meters high) and self-supporting, so that
conductor cables remain above the tree canopy, thus
minimizing the necessary vegetation suppression;
»
Cables will be launched using drones, whenever
possible;
»
There will be no construction sites or accommodation
inside the area and the towers will be pre-assembled
and transported into the facility;
»
Workers’ meals will be prepared outside the
indigenous area and no garbage will be disposed of
therein;
»
There will be limited working hours, environmental
training and rules of conduct in the TI for all
employees;
»
Locations for installing the transmission towers
were defined together with indigenous leaders in a
participatory work;
»
The right-of-way of the transmission line within the
TI (70 m wide over the 122 km route) corresponds
to only 0.033% of its total area; there will be no
vegetation suppression or opening of strips and no
impediment to regular agricultural, hunting and
fishing activities;
»
Bilingual signs will be installed, in Portuguese and
Kinja Iara (Waimiri Atroari language), in construction
areas within the TI;
»
Basic Environmental Plan - Indigenous Component
(PBA-CI): socio-environmental programs are planned
to mitigate impacts and compensate the Waimiri
Atroari people.
Eletrobras’ socio-environmental teams have monitored
and supported the implementation of TNE’s PBA,
including Human Rights Due Diligence actions. Further
information can be found on the Energia a Limpo
website.
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In order to contribute to sustainable development and
minimize impacts on communities surrounding our
operations and offices, as well as those located in the
river basins contributing to our hydroelectric plants,
we invest in strategic socio-environmental projects,
through direct choice projects and thematic notices. GRI
2-25, 413-1
Socio-environmental projects GRI 3-3
Formiga Verde
Instituto Permacultura Lab’s Formiga Verde Project is a
community-based environmental education program,
carried out in Morro da Formiga, in the northern region
of the city of Rio de Janeiro (RJ), during 2022 and 2023.
The Project promoted socio-environmental actions and
activities for the community, combining environmental
conservation and positive social impact, aiming to
reduce impacts on Tijuca National Park flora and fauna.
During the period, at least ten children continuously
attended the training space promoted by the project. GRI
413-1
Additionally, training workshops were offered aimed
at young people and adults in partnership with Hortas
Cariocas program, for the development of low-cost
sustainable technologies and practices, relating
knowledge on agroecology and permaculture. The
topics chosen prioritize income generation and food
security for resident families, as well as a legacy for
the community. More than 2 thousand seedlings were
planted as part of the project. GRI 413-1
In addition to these, the Palmito Project (page 165) was
also covered by the socio-environmental notice.
During 2023, we continued to manage the eight
projects selected in the first Eletrobras Group socio-
environmental notice, conducted in 2021, which include:
Alimergia Continuidade
(Mixed Cooperative for Production, Industrialization and
Commercialization of Biofuels in Brazil).
Carried out in the municipality of Seberi, in the
northwest region of Rio Grande Sul, Alimergia
Continuidade is one of the biggest environmental
references in the state. The project integrates actions for
the productive conversion of degraded areas with native
species from the Atlantic Forest, promoting low-carbon
agricultural, livestock and forestry practices. GRI 413-1
This process takes place through 379 agroforests, with
the planting of more than 200 thousand seedlings of
native species, and through the development of extensive
environmental education work, involving over 4 thousand
people. GRI 413-1
The project prioritizes family farmers with areas of up
to four fiscal modules and who have a Pronaf’s Aptitude
Declaration. GRI 413-1
One of the means we use to select supported projects
is Eletrobras Group Socio-Environmental Notice,
which supports projects that combine environmental
preservation and social development in the
communities where we operate, encompassing the
protection of Brazilian fauna and flora, together with
the promotion of social inclusion of groups in socio-
economic vulnerability situations. GRI 413-1
R$22.3 million in private social
investment in 2023 (donations +
sponsorship + volunteering) GRI 413-1
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Volunteering
In 2023, we began restructuring our Volunteering
Program, aiming to better adapt it to Eletrobras
companies’ current reality and onboarding process. In
this sense, in October, a workshop was held with the
participation of representatives from all companies,
with a focus on transforming existing programs into an
integrated program for the entire group, with strategic
guidelines aligned with business, enabling future actions
to be planned. GRI 413-1
Throughout the year, 3,029 hours were dedicated
to voluntary work, including time for planning and
conducting actions, with the participation of a thousand
professionals. A total of 8,149 people were benefited. GRI
413-1
Among Eletrobras’ integrated actions, we can mention
the following projects: GRI 413-1
» Aqueça o coração, which collected 1,391 hygiene
items and 266 clothing pieces, in addition to coats;
» Pink October, with hair and scarves donation;
» Donation Day, with the collection of 2,686 kilos of
food and 102 hygiene items;
» Seedling planting action in partnership with the
Formiga Verde project (RJ), covered by the Eletrobras
Group Socio-Environmental Projects Notice (learn
more on page 129);
» Social gardens on premises and around companies;
» Conversation circles on various topics, including
fighting sexual exploitation of children and
adolescents and conscious consumption;
» Storytelling at the Pequenas Vozes do Carmelo
Project (RJ), part of the CRAS (Social Assistance
Reference Center) Network in downtown Rio de
Janeiro;
» Christmas campaign, which collected approximately
600 gifts for socially vulnerable children and
adolescents.
In addition, Eletrobras companies carried out specific
campaigns, including emergency, blood donation,
Children’s Day and Easter campaigns. GRI 413-1
Mentoring with energy GRI 413-1
Virtual action developed by the
Volunteering Program and Eletrobras
Young Apprentice Program, in partnership
with FESA C.R.O.M.A institute, with the
participation of all subsidiaries.
Volunteers underwent training and
became mentors for the company’s
young apprentices. The objective was to
provide inputs and tools so that socially
vulnerable young people could develop their
professional action plans, contributing to
their personal growth. As the pairs were
made up of mentors and mentees from
different regions of the country, we also
promoted the exchange of regional cultures.
This action won the 2023 Conexões que
Inspiram award, promoted by the Minas
Gerais Volunteering Committee.
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Throughout 2023, we invested
more than R$8 million in
32 sponsorship projects,
enhancing cultural, sports and
innovation actions.
Some highlights of the year were:
» Rio de Janeiro Light Festival, comprising a series of
creative presentations using light and drones;
» Rio Innovation Week 2023, an event considered
one of the largest global technology and innovation
conferences;
» “SDGs In Brazil”, the most important corporate
sustainability initiative in the world, with the
participation of 160 countries, within the scope of the
UN Global Compact.
We also conduct Eletrobras Group Sports Sponsorship
Program, a notice aimed at the selection of sports and
para-sports projects, approved by the Sports Incentive Law,
with the aim of contributing to sport as a tool for social
transformation in the municipalities where we operate.
Thirty-five main projects and seven deputies were
selected, with a focus on initiatives that provide
relevance to the reputation of our brand and that
translate effective support for national sport.
Sponsorship
Sports sponsorship for Flamengo’s Water Polo team - Eletrobras File
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The National Program for Universalization of Access
and Use of Electricity, or “Light for All Program”
(Programa Luz para Todos—LPT), aims to provide
electricity supply to all unserved rural communities in
Brazil. Through it, the government seeks to promote
social and economic development in low-income
communities, with the aim of reducing poverty and
increasing family income. GRI EU23
Since it was implemented in 2004, more than 3.7
million consumer units have been served, benefiting
more than 17.4 million people across all regions of the
country. GRI EU23
In 2023, the Federal Government announced the
relaunch of the program, aiming to accelerate service
to the still unserved population, estimated at more
than 500 thousand families. Upon the relaunch of Luz
Para Todos, the “More Light for the Amazon” (Mais
Luz para a Amazônia, MLA) program, aimed at serving
remote areas with the use of renewable sources,
was integrated into the LPT, contributing to the
decarbonization of the power sector. GRI EU23
Contracts to serve the population in conventional
rural areas have a deadline for resource allocation until
2026, while for remote regions of the Legal Amazon,
the deadline extends to 2028. GRI EU23
The Program remains coordinated by the Ministry of
Mining and Energy (MME). Eletrobras is responsible
for its operation until the transfer to Companhia
Brasileira de Participações em Energia Nuclear e
Binacional S.A. (ENBPar) is completed. Due to the
need for more time to consolidate the ENBPar
structure, the transition period was extended until
June 17, 2024. GRI EU23
Light For All Program
TOTAL HOMES SERVED BY THE LIGHT FOR ALL PROGRAM
2004-2021
2004-2022
2004-2023
Total homes served
3,597,083
3,653,787
3,700,248
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Planet
CHAPTER 5
SDGs
CAPITALS
Tocantins river
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Environmental Management
We are committed to the future of the planet and
recognize that human activities have brought the
environment to a critical situation, with loss of
biodiversity, water crisis and climate change that can
already be perceived by the population. Therefore, we
seek to understand and mitigate the environmental
impacts of our operations, and we work on global
agendas in order to preserve the planet.
Our environmental action takes place on two fronts.
In the first one, we seek to reduce the environmental
impacts of our operations based on the principles
of prevention and precaution, promoting actions to
protect and restore ecosystems and water resources
in the regions of our projects, in addition to reducing
resource consumption, such as water and energy, and
the emission of Greenhouse Gases (GHG). GRI 2-25
Focusing on the company’s business model, we have a
mostly clean electrical matrix, contributing to a low-
carbon economy.
On another front, we seek to use our wide geographic
distribution to promote environmental education
for our team and the population, acting as an agent
of transformation and mobilization in promoting
sustainable development. GRI 2-12
In 2023, with a view for greater efficiency in
environmental processes, we created, within the
Operations and Security Office, a department dedicated
exclusively to the environmental licensing process in
operating projects, which works together with the
competent government bodies, to meet legal and
sustainability requirements.
Expansion Engineering Office, an environmental
assets unit was created, with a focus on environmental
licensing and management of physical, biotic and
socio-environmental environments. The Sustainability
Department, linked to the Governance, Risks,
Compliance and Sustainability Office, focuses on
advancing the strategic environmental agenda on
fundamental topics such as climate, biodiversity and
water (learn more on page 32).
Cerro Chato Wind Complex - Photo: Vanderlei Tecchio
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Environmental Management System Pillars
Eletrobras Group
Environmental Policy
It provides principles, guidelines
and responsibilities to guide the
handling of environmental issues,
in line with sustainability and
the relevant legal and regulatory
frameworks, as well as the
agreements to which Brazil is a
signatory. GRI 2-25
Click here to learn more about the
Policy.
Eletrobras Group
Environmental
Committee
Led by managers from the
companies’ environmental areas,
it is a space for discussing socio-
environmental practices and
guidelines. GRI 3-3
Corporate
Sustainability
Management
Indicator System
(IGS System)
It monitors environmental
indicators of all companies. It is a
strategic tool, with hundreds of
indicators and variables, involving
topics such as water, energy and
biodiversity. GRI 3-3
It contributes to the continuous
improvement of controls, as it
enables establishing strategies,
targets, plans and subsequent
reporting to stakeholders.
Responsibility for entering
data into the system is shared
between different areas of the
company.
Certifications
Our environmental
management system has
ISO 14,001 certification for
electrical energy generation
at HPP Tucuruí (8,370 MW),
UHE Coaracy Nunes (78
MW), UHE Samuel (216 MW),
UHE Curuá-Una (12.5 MW)
and UHE Balbina (275 MW),
which underwent an audit in
December 2023 and received
the certificate in January 2024.
At the thermoelectric plants
(UTE Santa Cruz and UTE
Campos) of Eletrobras Furnas,
located in the State of Rio de
Janeiro (RJ), external audits
are carried out to comply with
State Law No. 1.898/1991.
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Renovation of Barão de Mauá Building
In 2023, we began the renovation of our headquarters, the Barão de Mauá
Building, in Rio de Janeiro (RJ). The project is focused on sustainability and
efficient use of natural resources. Its characteristics include:
» Ecological sanitary equipment, such as restricted-action taps and
selective flush mechanisms;
» Natural lighting, reducing energy consumption associated with lighting
inside the building;
» Air conditioning system that considers energy efficiency issues; and
» Selective waste collection, both during the construction and in the
building’s routine activities.
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At Eletrobras, we believe we have a key role in the
transition to a new development model based on
a low-carbon economy, creating new business
opportunities and building, with the government
and civil society, the foundations for environmental,
economic and social sustainability on the planet.
In this sense, we seek to reduce greenhouse gas
emissions in our operations and in the value chain,
through continuous innovation of products and services,
supporting customers in their decarbonization process
and creating new business models.
Our actions are aligned with international agreements to
which Brazil is a signatory, such as the Paris Agreement.
Furthermore, since 2012, we have had the Eletrobras
Group Environmental Policy, which has specific guidelines
for climate change.
This commitment is translated into our Strategic Plan,
which brings the new ambition of being a Green Major: a
company that leads the planet’s energy transition (learn
more on page 28).
One of the objectives set out in the Strategic Plan, and to
which we are publicly committed, is to consistently follow
the net zero trajectory until 2030. A net zero company is
one that manages to reduce its greenhouse gas (GHG)
emissions, so as to balance the amount emitted and
absorbed from the atmosphere. Therefore, its total
contribution in terms of emissions is zero.
This commitment follows the guidelines of the Science
Based Targets Initiative (SBTi), which defines scientific
parameters for companies’ net zero trajectory, in line
with the planet’s needs.
In this context, we became ambassadors of the Global
Compact Net Zero Ambition in Brazil, which aims to
support companies to establish ambitious, science-based
commitments in their climate strategy.
In line with Eletrobras’ restructuring and reinforcing
the importance of the topic for the company, in
2023, we created a Climate Strategy and Biodiversity
Management, which reports to the Sustainability
Department.Its creation is based on the vision that
a synergistic action between climate change and
biodiversity contributes to reducing negative impacts
and enhancing positive impacts on the environment.
Climate Change GRI 3-3
UHE Luís Carlos Barreto de Carvalho
- Photo: Tereza Travassos
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Currently, we are already leaders in renewable energy
in Latin America, and based on our objective of
being net zero by 2030, we set annual targets for
reducing emissions and decarbonizing our portfolio.
Our strategy is mainly based on the divestment of
thermoelectric plants, eliminating GHG emissions from
our generation operations. The sale of these plants must
be accompanied by investment in renewable energy
sources, such as solar, wind and green hydrogen energy.
Emissions that cannot be reduced will be deduced with
renewable energy certificates and offset with carbon
credits from reforestation actions.
Decarbonization Plan GRI 3-3
Net zero commitment
TOTAL EMISSIONS (MILLIONS OF tCO2e)
MEASURES TO REDUCE tCO2 BY 2030
2022
2023
2024
2025
2026
2027
2028
2029
2030(1)
5.6
0.56
6
5
4
3
2
1
0
Eletrobras would emit 51 million tCO2e
between 2022 and 2030
(with no reduction actions)
1
2
3
Mi tCO2e
24Mi
of tCO2 avoided between
2022 and 2030
Divestments of
thermal plants.
Reduction of scope 2 emissions
with renewable energy certificates.
Compensation with carbon credits
from reforestation actions.
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The first step in this process to decarbonize the portfolio took place in September
2023, with the announcement of the sale of Candiota Thermoelectric Plant, our only
coal-fired generation asset, to Âmbar Energia, for R$27 million. The plant, located in
Candiota (RS), owned by Eletrobras CGT Eletrosul, with an installed capacity of 350 MW,
accounts for around one third of all the company’s emissions. Once all conditions were
met, the sale of the plant was completed in January 2024.
Meanwhile, we began structuring the sales process for other gas-fired plants, including
the Santa Cruz plant, in Rio de Janeiro, and the Codajás, Anori, Anamã, Caapiranga and
Mauá plants, in Amazonas.
COP 28
In 2023, we participated in the 28th Conference of the
Parties to the UN Framework Convention on Climate
Change, held in Dubai.
During the event, we sought to reinforce our role as part of
the solution to the global climate change challenge, further
qualifying our operations and energy sales. In this sense,
the conference represented an opportunity to leverage the
sustainability agenda.
We participated in various activities during the event,
highlighting a meeting promoted by the Global Compact,
during which we announced an agreement with BNDES
to build partnerships and projects for the Amazon
decarbonization and the recovery of Brazilian river basins
(learn more on pages 143 and 154) .
During COP28, we also announced our participation as
ambassadors of the Global Compact Net Zero Ambition
Movement, in Brazil (learn more on page 137).
Candiota Thermoelectric Plant - Eletrobras Disclosure
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I-REC (International Renewable Energy Certificates)
are certificates of proof that the energy consumed
by a customer has been produced from a renewable
source. GRI EU5
Currently, renewable energy certificates are
accepted by the Brazilian GHG Protocol Program to
offset companies’ scope 2 GHG emissions, which
makes them an increasingly important product to
support the transition to a low-carbon economy.
GRI EU5
Our participation in this market takes place through
the issuance and sale of I-RECs to final beneficiaries,
traders or even as a way of offsetting our own GHG
emissions. We were also innovative in developing a
proprietary type of certificate, RECFY, sold through
our own blockchain web platform. GRI EU5
Currently, Eletrobras Chesf has registered 98.7% of
the installed capacity of its generating complex for
issuing I-RECs. Eletrobras Eletronorte registered the
UHE Tucuruí, Eletrobras CGT Eletrosul registered the
Cerro Chato I, II and III wind farms, and Eletrobras
Furnas registered UHEs Serra da Mesa and Itumbiara
and the Fortim wind farm. GRI EU5
Furthermore, Eletrobras Furnas has enabled UHE
Mascarenhas de Moraes and UHE Simplício/Anta to
issue the RECFY. GRI EU5
In 2023, we sold 964,577 I-RECs
and 2,759,373 RECFYs. GRI EU5
One I-REC and one RECFY are equivalent to 1 MWh
of renewable energy generated and injected into
the grid.
Renewable Energy Certificates
External participation and
commitments
With a focus on engaging in the national agenda
to fight climate change, we participate in several
external forums, such as the Brazilian Forum on
Climate Change, the Global Compact Climate
Action Platform and the Climate Thematic
Chamber of the Brazilian Business Council for
Sustainable Development.
We are signatories to the Position Paper on
Carbon Pricing Mechanisms within the Business
for Climate Initiative (IEC), the Open Letter –
Private Sector Support for Carbon Pricing in
Brazil, developed by IEC, the Position Paper of the
Brazilian business sector on the urgency to create
a market carbon regulation in Brazil and the
Letter from the Brazilian business sector on the
Ecological Transition Plan – ‘Green Package’.
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Green Hydrogen
Green hydrogen technology (H2V) is one of the market’s
— and Eletrobras’s — major bets to promote a low-carbon
economy. It is based on the use of hydrogen as fuel,
obtained from a technique called water electrolysis, using
renewable energy, thus obtaining an efficient and clean
fuel, with no greenhouse gas emissions.
In 2023, our Board of Directors approved the strategic
guidelines for new businesses involving H2V, such
as the priority of meeting the hydrogen production
chain energy demand with clean and renewable
energy, evaluating opportunities for its production
and establishing strategic partnerships with potential
customers and suppliers.
We currently have an H2V production plant at the
Itumbiara hydroelectric plant (2 thousand MW), on
the border between Minas Gerais (MG) and Goiás
(GO), which uses solar and water energy to guarantee
24-hour operation of the electrolyzer. The plant was
the first of its kind to come into operation in Brazil,
in 2021, and have exceeded 3 tons of renewable
hydrogen produced.
In 2023, we received the 1st Green
Hydrogen certification in Brazil,
issued by the Chamber of Electric
Energy Commercialization, certifying
that hydrogen is produced from
renewable sources.
In March 2024, we announced to the market a
partnership with the company Paul Wurth Brasil,
for collaboration in the production and use of
renewable hydrogen (H2R) in industrial processes.
The agreement deals with the construction and
operation of a 10 MW plant for the production of
H2V, aiming to supply fuel for a steel plant. The
studies for the installation are expected to be
completed within less than a year.
Green hydrogen plant in Itumbiara -
Eletrobras File
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Support for the energy transition
At Eletrobras, we are aware of our potential to
contribute to the energy transition on the planet.
With this objective in mind, we continually invest
in R&D+I projects focused on making energy
consumption throughout society more sustainable,
with actions ranging from the development of new
generation technologies using renewable sources
to electric mobility projects (find out our main
innovation lines on page 85). GRI EU8
Some of the projects carried out during the year are
presented below:
» Photovoltaic Container - Waimiri Atroari:
Pilot project with the objective of implementing
a modular photovoltaic generation system, with
battery energy storage, local control system and
web-based remote monitoring, in the Waimiri
Atroari indigenous community. Before installing the
container in the selected community, the system
underwent a series of tests carried out by the Smart
Grids Laboratory.
» Low-wind generator: aims to evaluate the
applicability of a new wind energy generation
platform, using new manufacturing technologies to
take advantage of regions with medium- and low-
intensity winds.
» Energy Storage, Floating Photovoltaic and
Wind Generation: studies the synergy between
hydroelectric and solar sources, with seasonal and
intermittent energy storage in battery systems.
» Energy generation from swine manure
biogas: Aneel R&D project, which evaluated the
development of a gas pipeline to transport biogas.
With a R$6.6 million investment, it envisages the
implementation of an 11-kilometer gas pipeline
for piped biogas, a 480 kVA mini thermoelectric
plant, a substation for connection to the local
concessionaire’s primary distribution network and
11 biodigesters with different technologies. The
project served as the basis for the Santa Catarina
Biogas Law.
» Intelligent system with wind turbine integrated
with solar, storage and hydraulic energy
sources, as a development platform aimed at
continuous improvements in the electrical
energy generation process: development of an
intelligent hybrid generation system for R&D,
with controls capable of stable and improved
operation and maintenance, including real-
time simulators for performance optimization
and qualified production capacity and temporal
prediction of the system on a scale of hours, days
and months.
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Amazon Decarbonization
The Amazon region presents a series of challenges for
energy transmission and distribution, with more than 200
Isolated Systems, i.e., not connected to the National Grid.
The energy demand in these regions is mainly supplied by
diesel-fired thermal sources, which are highly polluting
and GHG emitters.
Aware of this problem, we are committed to the Amazon
decarbonization, engaging to reduce the emissions and
cost of generating local Isolated Systems.
The company’s capitalization in 2022 involved the legal
commitment to allocate R$295 million every year, over
10 years, to the Legal Pro-Amazon Fund. The resources
are intended for the region decarbonization, seeking
to reduce generation costs and interconnect remote
regions. The Fund also includes resources for the
navigability of the Madeira and Tocantins rivers (learn
more on page 154).
In 2023, we entered into an agreement with Cepel and
Enertech, a developer and investor in clean energy
supported by the government of Kuwait, to implement
decarbonization solutions in the Amazon.
In its first stage, the project consists of the
implementation of a modular container, which
incorporates solar panels for energy generation and
battery storage, in the Waimiri Atroari indigenous
community, isolated in the Amazon region (learn
more on page 142). Access to electricity in the
community will contribute to improving the quality
of life there, enabling the expansion of productive,
cultural and educational activities, in addition to
showing new paths for the expansion of renewable
energy in the country.
The project is aligned with the energy compact
“Decarbonization of the electrical matrix of
isolated systems in the Amazon, replacing diesel
generation with clean, renewable and affordable
energy”, signed with the UN between Eletrobras
and the National Bank for Economic and Social
Development (BNDES).
The commitments made in the energy compact
are valid until 2030 and include studies covering all
relevant aspects for replacing diesel with clean and
affordable energy, the creation of mechanisms to
promote pilot projects and cooperation between
institutions, proposed legal and regulatory changes
and a decarbonization plan to be implemented and
monitored by 2030.
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Climate risks and opportunities
The energy sector plays a crucial role both in the
mitigation and adaptation to climate change. On the
one hand, the transition to renewable and low-carbon
energy sources provides a significant opportunity to
reduce greenhouse gas emissions, thereby limiting global
warming. Additionally, investments in energy efficiency
and clean technologies can boost economic growth and
create jobs. GRI 201-2
On the other hand, the electrical energy sector is
one of the most sensitive to the impacts of climate
change, especially in hydroelectric generation. Weather
conditions directly affect plant flows, impacting their
power generation capacity and compromising the supply
of contracted volumes, which increases exposure to
financial risks. Furthermore, the social impact of droughts
and floods must be considered for the multiple uses of
reservoirs, ranging from the supply of drinking water
and irrigation, through navigation and leisure, to the
generation of hydroelectric energy. GRI 201-2
Therefore, risks related to the topic are analyzed within
the strategic scope of the business and are identified
in our risk matrix (learn more on page 61) in the ESG
category. They are evaluated from two perspectives: GRI
201-2
» adaptation, related to the adoption of measures
capable of reducing vulnerability and mitigating
impacts on operations;
» mitigation, related to emission management and the
adoption of monitoring, reduction and compensation
measures.
The risk of climate change involves both physical impacts,
which affect operational capacity, and financial impacts,
such as loss of revenue and market value. GRI 201-2
In this sense, hydrological risk is already considered
critical for the Brazilian power sector. In a study developed
to support the Ministry of the Environment in assessing
the impact of climate change on critical infrastructures
in the country, five hydroelectric plants (Santo Antônio,
Tucuruí, Jirau, Teles Pires and Marabá) had their impacts
estimated at R$13, 3 billion between 2011-2040. GRI 201-2
Our sales area annually calculates the potential financial
impact of the topic, considering the reduction in the
Physical Guarantee of our hydroelectric plants as a result
of the effects of the GSF (Generation Scaling Factor,
a hydrological risk adjustment factor which indicates
the hydroelectric generation in relation to the physical
guarantee) and the expected price of energy. The values
of this potential financial impact are in the magnitude of
billions of reais.
GRI 201-2
With the purpose of improving our climate change-related
physical risk assessment, in 2023, we carried out a study
to assess the risk of meteorological drought occurring, in
scenarios of climate change in the river basins where we
operate hydroelectric plants. GRI 201-2
This study indicated potential impacts of climate change
on plant flows, allowing the identification of priority assets
to elaborate adaptation plans. These results will also
support the calculation of possible financial impacts and
guide the planning of new energy generation businesses,
mainly hydroelectric ones. GRI 201-2
We follow the recommendations of the Task Force
on Climate-Related Financial Disclosures (TCFD)
to report our climate risks, their governance and
mitigation actions. Information can be found in the
TCFD Booklet.
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Mitigation and adaptation to climate risks
The mitigation and adaptation measures already implemented or on
implementation phase include: GRI 201-2
» scenario analysis and
vulnerability studies for
hydroelectric plants and other
types of projects;
» calculating climate-related
financial risks;
» developing guidelines
to define action plans to
support the implementation
of measures that reduce
operations vulnerability to
climate change;
» factoring climate change
variable in decision-making
processes;
» dissemination and training
actions on climate-related
topics;
» development of the Carbon
Footprint Study (learn more in
the next box);
» development of the Carbon
Pricing Study (learn more in
the next box);
» factoring climate change
variables in project selection;
» compensation/offset of part
of emissions and a study for
compensation/offset of all
emissions;
» project to unfold the actions
necessary to be net zero by
2030.
Studies on climate change impacts
“SOCIO-ENVIRONMENTAL VULNERABILITY TO CLIMATE CHANGE” PROJECT
Development of a methodology to determine the degree populations and ecosystems
vulnerability to climate change in areas influenced by generation and transmission
assets. Developed in partnership with Cepel.
CARBON FOOTPRINT STUDY
Its objective is to develop a carbon footprint assessment in our various types of
projects, aiming to understand our impacts on the climate.
CARBON PRICING STUDY
It aims to analyze the potential impacts on Eletrobras resulting from the adoption
of carbon pricing policies in the Brazilian market, in addition to developing a
methodology to consider carbon prices in technical-economic studies of projects.
Find out in depth about these and other Eletrobras actions on the topic in the
Climate Change Supplementary Booklet.
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For the second year, we published Eletrobras’ Greenhouse Gas
Emissions Inventory in the Public Emissions Register of the Brazilian
GHG Protocol Program, receiving the gold seal. Emissions are
calculated based on data reported in our management system, IGS.
The inventory follows the Intergovernmental Panel on Climate
Change (IPCC) methodology and Greenhouse Gas Protocol –
GHG Protocol guidelines (WRI, 2004), internationally recognized
standards for accounting and reporting GHG emissions.
The 2023 inventory still includes emissions from the Candiota
Plant, sold in 2023 with the aim of further cleaning up our matrix,
the operational control of which is being transferred at early 2024.
The effects of this sale on our emissions will only be reflected in
the next Inventory.
In 2023, we emitted a total of 5,665,409 tCO₂e, an amount 0.45%
higher than the previous year. Despite the low variation in relation
to the total amount emitted and the slight increase in Scope 1
(1.04%) and Scope 3 (0.65%) emissions, Scope 2 emissions were
7.89% lower than in 2022.
Emissions GRI 3-3
NOX, SOX AND PARTICULATE EMISSIONS GRI 305-7
Emissions
2021
2022
2023
NOx (t/year)
12,825
22,457
19,365
SOx (t/year)
13,023
9,874
14,451
Particulate matter- MP (t/year)
764
442
739
EMISSIONS GRI 305-1, 305-2, 305-3, 305-5
Scope
2021
2022
2023
Change 2022-
2023 (%)
Scope 1 (tCO2E)
5,942,678
3,958,097
3,999,341
1.04%
Scope 2 (tCO2E)
948,208
313,886
289,121
-7.89%
Scope 3 (tCO2E)
1,380,914
1,368,077
1,376,948
0.65%
Total (tCO2E)
8,271,800
5,640,060
5,665,409
0.45%
GHG EMISSIONS INTENSITY GRI 305-4
Scopes 1, 2 and 3
2021
2022
2023
Per unit of net electricity produced (tCO2/MWh)
0.089
0.052
0.056**
Per unit of net operating revenue (tCO2/ROL)
0.239
0.166
0.152
Scope 1 and 2 ex-losses
2021
2022
2023
Per unit of net electricity produced (tCO2/MWh)
0.064
0.036
0.039**
Per unit of net operating revenue (tCO2/ROL)
0.172
0.116
0.108
*The Santa Cruz TPP did not produce commercial energy in 2023. Atmospheric emissions data was not included in the 2023 report.
**For comparability purposes, only corporate generation throughout 2023 was considered, equivalent to 101,797,800 MWh.
These figures were corrected after publishing the 2023 Annual Report on April 29, 2024.
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EMISSION OF GASES REGULATED BY THE MONTREAL PROTOCOL (TONNES) GRI 305-6
2021
2022
2023
R-22
0.200
1.940
0.803
HCFC 123
0.000
0.000
0.000
R-141b
0.000
0.210
0.001
HFC-134a
0.020
2.730
0.013
HFC-152a
0.000
0.000
0.001
Total
0.220
4.880
0.818
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With the purpose of reducing
emissions from operations and
energy costs, we focus on the
business energy efficiency. The
topic is guided by Eletrobras Group
Energy Efficiency Policy.
Energy Consumption
*The data reported in the 2022 Annual Report referred only to the holding company, and therefore they were not included in the table, as it
does not allow for proper comparison with the consolidated data in 2023.
ENERGY CONSUMPTION WITHIN THE ORGANIZATION (GJ)* GRI 302-1
Fuel consumption - non-renewable sources (GJ)
Gasoline
28,912.44
Diesel
144,902.17
Kerosene
1,944.51
LPG
575.58
Natural gas for thermal generation
34,814,466.81
Mineral coal for thermal generation
20,443,843.37
Fuel oil
73,548,23
Total
55,508,216.24
Fuel consumption - renewable sources (GJ)
Vehicle ethanol
20,348.26
Biodiesel added to diesel
17,445.33
Total
37,793.59
Electricity consumed (GJ)
Electricity from the transformer
522,574.92
Electricity purchased from the National Interconnected System (SIN)
406,639.55
Electricity consumption in isolated systems
2,732.18
Electricity purchased from renewable sources in the Free Contracting Environment (ACL)
10,640.97
Total electricity self-consumption in the hydroelectric generation process
14,750,938.16
Total electricity self-consumption in the thermal generation process
1,099,437.74
Total electricity consumption
16,792,963.53
Total energy consumption (GJ)
Fossil fuel consumption
55,508,216.24
Renewable fuels consumption
37,793.59
Electricity consumption
16,792,963.53
Total
72,338,973.36
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We operate in the energy generation, transmission
and commercialization sector, and our main source is
hydroelectric power. Therefore, water is an essential
natural resource for carrying out our activities.
Our hydroelectric plants are located in all Brazilian
regions, with emphasis on the São Francisco,
Tocantins, Paraná, Paraíba do Sul and Grande
river basins, where the operations with the largest
installed capacity are located. In the plants
operation, there is no water consumption, since
the entire volume used for generation is returned
downstream the dams, with a quality similar to that
of its capture. GRI 303-1
Throughout all phases of the projects, we interact
with regulatory bodies, such as the National Water
and Sanitation Agency (ANA), Aneel, ONS and the
Brazilian Institute of the Environment and Renewable
Natural Resources (Ibama), complying with their
determinations and guidelines. GRI 303-1
This happens from the planning phase of
hydroelectric projects, in which hydrological studies
define a multiple scenario for the use of water during
the project concession period, which lasts around 35
years, considering the various possibilities of changes
in the conditions of the hydrographic basin.
The results of these preliminary assessments are
used to size the energy to be generated by the
project. GRI 303-1
Aiming to reduce the environmental impact of
operations, the Environmental Impact Studies
of the projects consider minimum flows for
the maintenance of environments, species
and ecological processes downstream of the
Hydroelectric Plants.
ANA and state bodies are responsible for granting
rights to use water resources, which provide rules
for companies to operate. Furthermore, we are
committed to carrying out the monitoring programs
requested in the environmental permits, such as
limnological and water quality monitoring programs,
and sending reports to the competent environmental
agencies. GRI 303-1
To use water in the plants, we pay Financial
Compensation for the Use of Water Resources
(CFURH), in accordance with Law 7.990/1989. The
resources of this Compensation are managed by the
Brazilian Electricity Regulatory Agency (Aneel) and
benefit states, municipalities, the Union, in addition
to the Ministry of Mining and Energy (MME), Ministry
of Environment and Climate Change (MMA) and
National Development, Scientific and Technological
Funding (FNDCT). GRI 303-1
Throughout the project’s concession period, we
provide operational data from our plants to ANA and
Ibama, for monitoring purposes. GRI 303-1
We also collaborate with the National Grid Operator
(ONS), the body responsible for coordinating and
controlling the operation of electrical energy
generation and transmission facilities in the National
Grid (SIN), aiming for the safety and continuity of
electrical energy generation in the country. The SIN
considers a risk curve that defines the minimum volume
to be maintained in reservoirs in each Brazilian region.
In thermoelectric plants, in turn, the water used is
captured directly from water bodies, treated and
used in refrigeration processes, steam generation,
ash wetting and cleaning of the industrial area and
equipment. GRI 303-3
Water and Effluent Management GRI 3-3
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The water used in the thermoelectric generation
process is returned to the source water body in
compliance with the standards defined in current
environmental legislation, and we monitor its
quality and temperature. GRI 303-4
Efficient and integrated water management is
included in the guidelines of the Environmental
Policy and the Water Resources Policy, that guide
the sustainable and rational use of water resources,
considering their multiple uses in serving the
electricity market.
This document is based on the provisions of Law
No. 9.433/1997, which provides for the National
Water Resources Policy, and is based on the
concept that water is a public asset, a limited
natural resource with economic value. GRI 303-1
Our Water Resources Policy has the following
objectives: GRI 303-1
1. Guide the rational use of the resource,
considering its multiple uses in serving the
electricity market;
2. Contribute to the sustainable use of water
resources in the development of our
activities.
Therefore, our objective in water management is
to guarantee its quality and availability, in order to
mitigate any negative impacts that may be caused
by our operations to the population located in the
area directly influenced by out projects. GRI 303-1
Integrated water management seeks to maximize
the use of water resources, minimizing waste and
considering the entire cycle, from collection to
disposal. GRI 303-1
In this sense, we are signatories to the Business
Commitment to Water Security, launched by
the Brazilian Business Council for Sustainable
Development (CEBDS) during the World Water
Forum in 2018. We renewed this commitment in
2023, adhering to five of the six proposed goals
(learn more about the commitment here). GRI 303-1
UHE Tucuruí - Eletrobras File
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Impact on water resources GRI 2-25, 3-3, 303-1
In all phases of our projects, we identify impacts caused to water resources in order to define mitigation and compensation measures. A list of possible impacts is presented below,
which may vary depending on the region geography, the project type and size, and the actions taken:
POTENTIAL IMPACTS ON WATER RESOURCES
Type of activity/project
Possible impacts
Examples of mitigation and compensation measures
Hydroelectric plants
Changes in hydrosedimentary dynamics
Hydro-sedimentological monitoring program
Changes in rainfall patterns/Reduced downstream streamflow
Hydro-sedimentological monitoring program
Changes in groundwater levels
Hydrogeological monitoring program / Program to monitor the water table
and groundwater quality
Conversion of river ecosystems from lotic to lentic
Water quality monitoring program/Ichthyofauna Program
Changes in surface water quality
Water quality monitoring program
Riverbank erosion downstream of the reservoir
Erosion monitoring/Rehabilitation of riparian vegetation
Multiple reservoir uses
Reservoir Bank Environmental Conservation and Usage Plan (PACUERA)
Thermal power plants
Consumptive water use in the generation process
Water consumption and quality monitoring program
Possibility of water contamination by waste/ oil leaks
Water quality monitoring program / Emergency Response Plan
Varying temperature, turbidity and pH in discharged water
Water Quality and Effluent Monitoring Plan
Transmission lines
Consumptive water use in the transmission process/
Consumptive water use in current conversion
Water consumption and quality program / Adding chemicals to the cooling
water to increase the number of cycles in the Converting Substation towers
Floating solar farms
(on reservoirs)
Oil spills (equipment collapse)
Contingency Plan/Bunding
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Following current legislation, we manage water quality
through periodic inspections of the projects’ facilities
and equipment, both in raw water and drinking water
systems. The process results in the issuance of Technical
Inspection Reports, which describe the results and
propose improvement actions, and the elaboration of
Effluent and Water Quality Monitoring Plans, which
describe the environmental monitoring to be carried out
in each unit of the company. GRI 303-1, 303-2
Consumed water resources and discharge effluents
undergo laboratory analysis, in accordance with the
National Environmental Council (Conama) resolutions
357/2005 and 430/2011, which establish the conditions
and standards for effluent discharge. GRI 3303-1, 303-2
Water quality in areas influenced by the projects is
assessed through monitoring of physical-chemical
and biological parameters established in the
respective environmental permit processes, in line
with current environmental legislation. GRI 303-1, 303-2
Water Quality
Water withdrawal, consumption and discharge GRI 3-3
In 2023, a total of 625.1 million m³ of water were
captured from surface sources for use in our
hydroelectric plants, which were returned in the
same state to the water bodies after passing through
the plants’ turbines. Other projects — thermoelectric
plants, wind farms and transmission systems —
captured 34.6 thousand m³. GRI 303-3
Administrative activities, in turn, captured 1,200 m³.
Most of the water used in administrative activities
is supplied by local water utilities. In other cases, we
capture water from surface or underground sources
and subject it to chlorination or conventional treatment
at a Water Treatment Station (WTS). GRI 303-3
We consumed a total of 11.4 thousand m³ of water
in 2023, and discarded 625.1 million m³ into the
environment. GRI 303-4, 303-5
Following use and appropriate treatment,
wastewater is discharged into water bodies or
infiltrated into the soil. GRI 303-1
All water used and discharged in our business is
ckassified as freshwater, and therefore, disposal
complies with the parameters established by
the National Environmental Council (Conama) in
resolutions 357/2005 and 430/2011, which provide
for a maximum concentration of 500 mg/L for total
dissolved solids. GRI 303-2, 303-3
Water indicators, with the exception of turbine water,
is monitored by the infrastructure, environment and
sustainability areas, through the IGS System.
GRI 303-3, 303-4, 303-5
Projects’ Water Footprint
In partnership with Cepel, we carry out Life Cycle
Analysis studies of our projects, focusing on their
water footprint, i.e., the amount of water consumed
in their operations. In 2023, the calculation of the
water footprint of natural gas thermoelectric source
was completed, using the Santa Cruz Thermal Power
Plant as a case study. The water footprint of the wind
source is also being calculated, using the Casa Nova
A wind farm as a case study.
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Jacarepaguá Substation -
Eletrobras File
WATER CONSUMPTION (THOUSANDS OF M³)* GRI 303-3. 303-4. 303-5
2022
2023
Administrative activities
1,215.04
1,196.44
Surface water
581.45
593.67
Groundwater
296.30
345.63
Utility water
275.15
257.15
No water meter available (estimated consumption)
62.14
210.03
Thermal power
61,950.20
34,563.18
Surface water
61,686.25
34,166.65
Groundwater
263.94
396.53
Wind generation
0.18
0.54
Groundwater
0.18
0.54
Hydropower
679,514,292.87
625,135,385.32
Surface water
679,514,292.87
625,135,385.32
Transmission system
307.58
0.0
Surface water
307.58
0.0
Other uses
2,521.57
2,523.48
Water withdrawal for use in fish farms
2,521.57
2,521.57
Water withdrawal from rainfall
-
1.91
Total water withdrawal
679,580,287.42
625,173,877.08
Total water discharge**
679,568,149.13
625,162,463.86
Total water consumed**
11,768.58
11,413.22
Turbined water (hydroelectric plants in water-stressed areas)***
3,001,899.74
2,476,478.83
* The data does not include Eletropar and SPEs. The values for water caught, discarded and consumed do not consider rainwater catchment.
Although the GRI protocol uses Megaliters (ML) as the unit of measure, we have reported in thousands of m³ for consistency with the water
volumes reported in previous years.
** Regarding water disposal, we account for the volume of turbined water flow through hydropower dams, the volume returned to rivers and
oceans from the hydropower dams and the water volume used in aquaculture and protected areas, in addition to 80% of the volume of water
captured for administrative activities, following the consumption coefficient stipulated by the National Water and Sanitation Agency (ANA).
*** The plants that are located on rivers classified as water stress are PCH Curemas, UHE Pedra and UHE Batalha. With the exception of turbine
water, there is no water withdrawal in water-stressed areas.
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River basins
Given the high potential hydroelectric plants have to
impact water resources in a region, we recognize our
important role in the shared management of the river
basins where the projects are located.
In this sense, we seek to participate in local River
Basin Committees, in which representatives of the
river basin community discuss and deliberate on the
management of water resources, sharing management
responsibilities with public authorities. We currently
participate in the São Francisco River, Rio de Contas
and Parnaíba River Basin Committees. We also
participate in State Water Resources Committees and
Councils, seeking to act to promote water conservation
and rational use. GRI 303-1
In addition, we allocate resources for the maintenance
of Regional Funds aimed at developing programs to
revitalize water resources in the hydrographic basins
of the São Francisco and Parnaíba rivers and the areas
of influence of the Furnas hydroelectric plants, as well
as the navigability of the Madeira and Tocantins rivers.
These contributions are part of the obligations arising
from our capitalization process and began in 2023,
with an expected duration of 10 years. GRI 303-1
In São Francisco and Parnaíba river basins and in
the areas influenced by the Furnas reservoir, the
water resource revitalization agenda must favor the
preservation, conservation and recovery of priority
areas where water resources are in a vulnerable
situation. The projects are expected to have a positive
impact on the region, with increased recharge
of tributary flows and operational flexibility of
hydroelectric plant reservoirs. GRI 303-1
Part of our commitment is the annual contribution of
R$350 million for the revitalization of São Francisco
and Parnaíba, and R$230 million for the Furnas
reservoir area.
The project aimed at the Madeira and Tocantins
rivers is part of the Legal Pro-Amazon Fund and aims
to improve the navigability of water bodies, while
supporting the generation of clean energy in the
region (learn more on page 143).
UHE Teles Pires -
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“Nascentes” (Springs) Project
Since 2021, in a partnership with the company Ingá Engenharia, we
have developed the “Nascentes” (Springs) Project, which aims to
research and implement innovative methodologies for the recovery
and protection of springs and degraded areas in the region of
aquifers contributing to the reservoirs of Furnas and Mascarenhas
de Moraes hydroelectric plants. It is worthy highlighting the use of
Artificial Intelligence (AI) tools to process data.
Since the beginning of the project, more than 200 springs and
approximately 160 hectares have been recovered in 37 municipalities
in the state of Minas Gerais, mainly through the planting of
conventional native species and those of economic interest.
In 2023, education and training activities were carried out on the
sustainable use of species of economic interest used in the project.
The actions benefited more than 500 people, including students,
teachers, members of civil society and representatives of public
authorities.
As part of the project, the “Regenerascentes” mobile application
was developed, with the aim of assisting and guiding rural
producers and owners of degraded areas in the recovery of springs
and banks of water bodies.
Preservation of water resources
IARA (Environmental Intervention for Water Recovery) Project
The project aims to plant native seedlings from the Atlantic Forest in degraded areas, with a focus on water
flow maintenance and ecological enrichment of four springs of the Piraquara River, located in Pedra Branca
State Park, in Rio de Janeiro.
Created by volunteers from Eletrobras companies, the initiative aims to clean and restore rivers, streams
and lakes near Furnas operating units, with the involvement of communities and municipal schools
in environmental education actions. The name was chosen based on Brazilian folklore, as Iara is an
indigenous woman who became a mermaid and is considered the “Guardian of the Waters”..
Professionals plant seedlings at the
headquarters of Eletrobras CGT
Eletrosul - Photo: Jessica Antunes
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The company’s generation and transmission
activities take place in terrestrial and aquatic
ecosystems located in the main Brazilian
biomes, including the Atlantic Forest, Caatinga,
Cerrado and Amazon Forest. When operating
in ecologically relevant areas, we are aware
of our responsibility for the conservation
of biodiversity and ecosystem services.
Therefore, we seek to enhance biodiversity
conservation and recovery actions, with a focus
on generating a positive impact in the regions
where our operations are located, whether in their
planning, construction or operation. The topic is
guided by the Eletrobras Group Environmental
Policy, which provides biodiversity-specific
guidelines, with the purpose of factoring the topic
in our decision-making processes. GRI 304-2
We are signatories to the Brazilian Business
Commitment to Biodiversity, launched
by the Brazilian Business Council for
Sustainable Development (CEBDS).
The initiative underscores the importance
of biodiversity and ecosystem services
for businesses, in line with national and
global strategic agendas on the topic.
Eletrobras has also signed up to Business for
Nature’s Call to Action, which brings together
more than 1,400 companies from around
the world in support of collective action to
reverse natural resources loss by 2030.
In order to improve our management of the topic, in
2023 we created a Biodiversity and Climate Strategy
Management, which reports to the Sustainability
Department, aiming to enhance conservation
actions that contribute to reducing biodiversity loss
and the impacts of climate change on the planet.
We also have a Biodiversity Working Group,
which has the role of promoting debates,
carrying out studies and proposing strategies
to improve management of the topic.
To leverage our management of the topic, we
joined the CEBDS Action for Nature Platform.
The initiative was created in partnership with
the World Business Council for Sustainable
Development (WBCSD) and the Taskforce on
Nature-Related Financial Disclosure (TNFD), with
the aim of helping companies identify and manage
their impacts and dependencies, accelerating
business solutions that preserve nature.
In this sense, we are participating in the pilot project
of the Brazilian Business Council for Sustainable
Development (CEBDS) to apply the first stage of
the TNFD methodology, and we intend to fully
implement the recommendations by 2025.
Biodiversity and
Ecosystem Services GRI 3-3
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Amazon Impact Movement
We are ambassadors of the Amazon Impact
Movement, a UN initiative that aims to
guarantee the forest preservation. The
movement’s objective is to accelerate the 2030
Agenda, uniting various civil society actors in
search of the transition to a green economy in
the region.
By becoming ambassadors of the initiative, we
will act to move the Brazilian business sector
towards fighting deforestation in the Amazon,
as well as encouraging the bioeconomy and
sustainable development of indigenous peoples.
The movement was launched in
September 2023, at the UN headquarters,
during the Sustainable Development
Goals (SDGs) in Brazil event, sponsored by
Eletrobras.
Caverias river (SC) landscape -
Eletrobras File
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Throughout the planning stage of our projects, we carry out environmental impact
studies to identify and evaluate how their construction and operation can impact
local biodiversity. For each negative impact identified, we propose mitigation and
compensation actions, which are subject to evaluation by the institutions responsible for
permitting. GRI 304-2
During the projects’ operation, monitoring may indicate the need to review actions and
new investments.
On the next page, we present a list of possible impacts and the actions taken:
Environmental impacts
158
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IMPACTS ON BIODIVERSITY GRI 2-25, 304-2
Type of
operation
Direct
impacts
Duration
Reversibility
Indirect impacts
Duration
Reversibility
Actions/programs to avoid, reduce
and/or offset impacts
Hydroelectric,
wind and solar
power plants,
and transmission
lines
Loss of
vegetation
cover
Permanent
in the plant
implementation
area
Irreversible
in the plant
implementation
area
Forest fragmentation
Permanent
Irreversible
Disturbed Land Rehabilitation Program, germplasm
banks, forest rehabilitation in an area adjacent to
the plant.
Loss of terrestrial habitats
Permanent
Irreversible
Monitoring and rehabilitation actions
Loss of flora and
fauna diversity
Permanent
Irreversible
Programs to monitor and handle
flora and fauna
Reduction of land
wildlife populations
Temporary
Reversible
Reproduction and replenishment actions
Changes in
ecosystems/
habitats
Permanent
Irreversible
Loss of flora and
fauna diversity
Permanent
Irreversible
Support for creating and/or maintaining protected
areas, programs to monitor and handle flora and
fauna, programs for threatened species protection
Hydroelectric
plants
Conversion of
river ecosystems
from lotic
to lentic
Permanent
in the reservoir
area
Irreversible
in the reservoir
area
Changes in water quality
Temporary
Reversible
Water quality monitoring program
Loss of aquatic habitats
Permanent
Irreversible
Monitoring and rehabilitation initiatives
Macrophyte proliferation
Temporary
Reversible
Water quality improvement, monitoring
and removing macrophytes
Loss and/or substitution
of aquatic species
Permanent
Irreversible
Programs to monitor and handle aquatic fauna
Reduction of aquatic fauna
Temporary
Reversible
Reproduction and replenishment actions
Hydroelectric
plants
Interference in
the migratory
routes of
ichthyofauna
Permanent
Irreversible
Isolation of fish
populations
Temporary with
the adoption of
handling measures
Reversible with
the adoption of
handling measures
Monitoring of ichthyofauna, fish transposition
mechanism, ichthyofauna handling actions
Loss and/or alteration of
ichthyofauna species
Permanent
Irreversible
Monitoring of ichthyofauna, fish transposition
mechanism, ichthyofauna handling actions
Transmission
lines, wind farms
Occurrence of
bird and bat
collisions
Permanent
Reversible
Occurrence of bird
and bat deaths
Temporary
Reversible
Implementation of plants outside the migratory route area,
Installation of signaling equipment to avoid collisions
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Support for implementing and maintaining Conservation
Units is provided for in Brazilian law as a way of compensating,
within the scope of environmental licensing, for the impacts of
implementing projects on biodiversity. GRI 2-25, 304-3
We also support protected areas on a voluntary basis, in
accordance with our sustainability strategy.
We therefore maintain support for Conservation Units of various
types, such as Permanent Preservation Areas (APP), State Parks,
Biological Reserves and Ecological Stations, located in the main
Brazilian biomes (Cerrado, Atlantic Forest, Amazon, Caatinga
and Pampa). 304-3
In 2023, we had habitat protection and restoration projects in 16
areas around the national territory, totaling 2.1 million hectares
under preservation by the company and partners.
Protected and restored areas GRI 3-3
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PROTECTED AND RESTORED AREAS GRI 304-3
Protected or
restored habitat
Area (ha)
Location
Area status
Standards, Methodology and Assumptions
Partnerships
Aguapeí State Park
(forest restoration)
99.58
Municipalities of Castilho, Nova
Independência, Guaraçaí, São
João do Pau D’alho, Monte
Castelo, Junqueirópolis, in
the state of São Paulo
In 2023, planting in this area was completed,
in addition to an additional planting of 1.15
ha. Throughout the year, 101,736 seedlings
of native species were planted.
The methodology used is compliant with
SMA Resolution 32/2014 and CBRN Directive
01/2015. The methodology establishes the
minimum number of forest species to be
used and the parameters to be met over
time to demonstrate successful reforestation.
The Socio-Environmental Notice included
completely voluntary projects that promote, through
partnerships, environmental education activities,
seed collection and reforestation, among them
the project “Restaura-Ação: Ensuring ecosystem
services”, the project “Environmental education,
sustainability and social inclusion in the production
of forest species seedlings” and the project “Research
combined with practice: subsidies for inclusive
ecological restoration adapted to climate change”.
Permanent
Preservation Areas
(APP) intercepted by
the 230 kV Jardim-
Penedo Transmission
Line (forest restoration)
12.68
States of Sergipe and Alagoas
Currently, the entire area planned for recovery
has been planted with seedlings of native species
from the Atlantic Forest Biome. The program is
now in the maintenance phase, during which 1,298
seedlings of native species were replanted.
The program began in March 2020 and runs
until March 2024. Native, pioneer and climax
species were used, preferably representative
of species common in the region’s Atlantic
Forest or those that best adapted to the
conditions of the planting area.
The Project was designed by Eletrobras
specialists in compliance with Environmental
Licensing, conducted by IBAMA.
Continuous Program
for the Recovery
of Degraded Areas
around the UHE Xingó
Reservoir (recovery
of degraded areas)
365.47
The program, which is in an advanced stage, already
has 312.76 hectares of caatinga under recovery,
and in 2023, 28,054 seedlings were replanted.
The degraded areas recovery programs
and Permanent Preservation Areas around
the UHE Xingó use rustication techniques,
planting seedlings and protection of planted
areas that have already been analyzed
and approved by supervisory bodies.
Permanent
Preservation Areas
(APP) on Xingó
Reservoir banks
38.01
In 2023, restoration work began on 38.01 hectares
in Permanent Preservation Areas on the banks
of the Xingó Reservoir, with the planting of
57,301 seedlings of native caatinga species.
Permanent
Preservation Area
of PCH Barra do
Rio Chapéu (forest
restoration)
27.5
Municipalities of Rio Fortuna
and Braço do Norte, in the
state of Santa Catarina
The Permanent Preservation Area is recovering
naturally, but actions are planned to restore
areas with little vegetation coverage.
Procedures include preparing studies, carrying
out environmental programs and management
associated with environmental permit.
To carry out activities, the methodologies
described in the Environmental Programs are
followed. The Business Management Standards
and Procedures relating to Environmental
Management and Environmental Permit
have been updated and are in force.
Partnership with the Environmental Police Support
Group (GAPA) for monitoring and environmental
protection of the directly influenced area.
Palmito Project (learn more on page 165).
Permanent
Preservation Area
of PCH João Borges
(forest restoration)
271.5
Municipalities of Lages and
São José do Cerrito and
Campo Belo do Sul, in the
state of Santa Catarina
Permanent
Preservation Area of
UHE São Domingos
(forest restoration)
730.4
Municipalities of Água Clara
and Ribas do Rio Pardo, in the
state of Mato Grosso do Sul
Permanent
Preservation Area of
UHE Passo São João
(forest restoration)
1.769.40
Municipalities of São Luiz
Gonzaga, Dezesseis de
Novembro, Roque Gonzales,
São Pedro do Butiá, Rolador, in
the state of Rio Grande do Sul
The Permanent Preservation Area is in a good stage
of recovery due to the actions already carried out
and the maintained environmental programs that
aim to prevent degradation actions. At the Passo
São João Hydroelectric Plant, it was verified that the
APP is in a good stage of recovery, due to the actions
already carried out and the environmental programs
maintained that aim to prevent degradation actions.
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PROTECTED AND RESTORED AREAS
Protected or
restored habitat
Area (ha)
Location
Area status
Standards, Methodology and Assumptions
Partnerships
Mosaic of Conservation
Units (UC) of Tucuruí
Lake (protection
support)
664
thousand
Municipalities of Breu Branco,
Goianésia do Pará, Itupiranga,
Jacundá, Nova Ipixuna, Novo
Repartimento and Tucuruí,
in the state of Pará
All Full Protection Conservation Units are in a
good state of conservation, with protection
and management activities carried out by
the management bodies of these units,
whether federal (ICMBio) or state.
The Tucuruí Lake UC Mosaic, because it is made
up of sustainable use conservation units, has
a very occupied area, with a predominance of
pasture and family farming. In this area, remnants
of native forest are still present, however actions
to protect and recover APP are necessary.
In compliance with legal requirements, we
support conservation units in land demarcation
activities, development of resident populations,
protection and surveillance of areas and
environmental education for local populations
in their surroundings. To carry out the
activities, we have signed partnership terms,
such as Terms of Commitment or Technical
Cooperation Agreements, with the institutions
responsible for managing these areas.
Instituto de Desenvolvimento Florestal e
Biodiversidade do Estado do Pará (IDEFLOR-Bio)
Samuel State
Ecological Station
(protection support)
71,060.7
Municipalities of Itapuã
do Oeste and Candeias do
Jamari, state of Rondônia
Rondônia Environmental Development
Department (SEDAM)
Biological Reserve
– REBIO Uatumã
(protection support)
more
than 900
thousand
Municipalities of Presidente
Figueiredo, São Sebastião
do Uatumã and Urucará, in
the state of Amazonas
Instituto Chico Mendes de Conservação
da Biodiversidade (ICMBio)
Parakanã Indigenous
Land (protection
support)
351,600
State of Pará
All Indigenous Lands are in a good state
of conservation, with protection and
management activities carried out by the
management bodies of these units.
Eletronorte supports environmental
protection actions in Indigenous Lands that
have suffered interference from its projects.
These actions are part of broader programs.
Actions carried out in partnership with
Funai and indigenous communities
Waimiri Atroari
Indigenous Land
(protection support)
2,585,910
States of Amazonas
and Rondônia
São Marcos
Indigenous Land
(protection support)
654,110
State of Roraima
Krikati Indigenous Land
(protection support)
144,775
State of Maranhão
Trocará Indigenous
Land (protection
support)
21,722
State of Pará
Surroundings of
UHE Teles Pires
Preservation
of 20
thousand ha
Restoration
of 2,962 ha
Jacareacanga (PA) and
Paranaíta (MT)
To date, 1,333.3 hectares have been restored,
distributed across 5 sections. These sections
underwent an audit, and taking into account the
development stages of the plantations, the result
was positive, as approximately 75% of the area has
been restored. Total of 1,230,854 seedlings planted.
No-till planting using the following
methodologies: total planting,
nucleation, enrichment and filling.
Restoration actions are carried out by outsourced
companies and monitoring is carried out by
the coordination of UHETP flora programs
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All our projects that have some type of interaction with the local biome have biodiversity management plans
for the areas where they are located, which support the recovery and conservation of threatened species.
Furthermore, we have voluntary protection programs, in accordance with our sustainability strategy. GRI 304-4
Endangered species
* We used the list and terminology of the IUCN (International Union for the Conservation of Nature and Natural Resources) and the Chico
Mendes Institute for Biodiversity Conservation (ICMBio) - Ministry of the Environment (MMA) to characterize threatened species.
** The species cited by IUCN and ICMBio-MMA are different and some appear in only one of these lists.
Find out the complete list of threatened species in
the Supplementary Biodiversity Booklet.
THREATENED SPECIES* WITH PROTECTION PROGRAMS GRI 304-4
IUCN List
ICMBio-MMA List
2022
2023
2022
2023
Critically Endangered
2
2
4
5
Endangered
4
4
5
6
Vulnerable
16
17
19
21
Near threatened
13
13
15
15
Least Conrcern
13
15
3
4
Insufficient data
-
-
1
1
Species not included in the agency’s list**
20
23
21
22
Total
68
74
68
74
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The implementation of hydroelectric plants
causes changes in aquatic environments, which
in turn can cause impacts on fish communities.
By knowing the structural and functional
patterns of fish communities, we can evaluate
environmental changes and adopt management
measures that most contribute to conservation.
Therefore, we implemented a series of
monitoring programs and conservation
actions for fish fauna in the reservoirs of
our hydroelectric plants. These initiatives
include comprehensive studies before and
after the construction of hydroelectric
plants, aiming to assess the impact on the
biology and ecology of native species.
At UHE São Domingos (MS), the ichthyofauna
program is made up of four subprograms:
Migratory Fish Transposition, Ichthyofauna
Monitoring, Ichthyoplankton Monitoring
and Genetic Monitoring. Since the beginning
of the Migratory Fish Transposition
subprogram, approximately 22 thousand
individuals have been transposed.
At UHE Passo São João (RS), we have developed
Community Monitoring, Ichthyoplankton
Monitoring and Manual Transposition
Programs. Approximately 23 thousand
individuals have already been transposed.
For the reservoirs of the São Francisco
River basin, we carry out the Ichthyofauna
and Fisheries Biology Monitoring Program,
which aims to monitor and evaluate the
ichthyofauna, its reproductive and feeding
biology, as well as populational dynamics,
over time and geographic space.
In the North region, we monitored an area of
over 3,717 km² of water bodies, sampling the
various environments existing in reservoirs and
river environments downstream Tucuruí (PA),
Samuel (RO), Coaracy Nunes HPPs (AP) and
Curuá-Una (PA) dams. At UHE Samuel, more
than 17,819 specimens were analyzed and at
UHE Tucuruí, 21,518 specimens were analyzed.
Ichthyofauna Monitoring Programs
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With the aim of expanding the positive
environmental impact of our operations, we develop
and support biodiversity conservation projects
across the country, according to the specificities
of each area of activity. GRI 304-3, 304-4
Among the initiatives supported in 2023, we highlight:
» Study to map land use and occupation in
Permanent Preservation Areas (APPs) and
forested areas of Eletrobras: seeks to carry
out a diagnosis of APP areas and native and
recovered forested areas, owned or managed
by Eletrobras, aiming to develop action plans for
environmental conservation and recovery.
» Uatumã Turtle Release Project: seeks to return
baby turtles to the wild, contributing to the species
conservation and protection. The work is developed
with the participation of the population of 30 riverside
communities in the municipalities of São Sebastião
do Uatumã, Urucará, Itapiranga and Silves (AM).
» Xingó Forest Nursery: committed to producing
100 thousand seedlings of native caatinga species
every year. One of the highlights is the research
aimed at the large-scale reproduction of Turk’s
cap cactus (Melocactus azureus), some species
of which are classified as threatened. In 2023,
the project continued with a focus on the care
and maintenance of Turk’s cap cactus seedlings
on completion phase, with 28 sow units.
» Center for Circular Bioeconomy of the Amazon
and Territorial Management Strategy for the
Conservation of Forest Areas (CBA): located in
Manaus (AM), it aims to develop local production
chains, recover areas, restore agroforestry
systems, promote carbon fixation research and
implement public policies in the areas of the
Santo Antônio Hydroelectric Plant, considering
APPs, legal reserves and other properties.
» Forest Germplasm Program: developed at
UHE Tucuruí (PA), it aims to conserve forest seed
collection areas and contribute with native seeds
and seedlings to the reforestation of the region. The
program promotes the restoration of degraded
areas and increases afforestation and reforestation,
contributing to the maintenance of biodiversity,
genetic resources and the mitigation of greenhouse
gas emissions through carbon sequestration. In
2023, 1,116,457 seeds and 61,329 seedlings were
donated, equivalent to the reforestation of an area of
approximately 186 hectares in the Amazon biome.
» Palmito Project: The Palmito Project is an urgent
response to the gradual disappearance of the juçara
palm tree in the Atlantic Forest. Considered a national
symbol, the species is threatened with extinction due
to the predatory extraction of palm hearts and the
reduction in the preserved area of this biome.
The juçara palm tree provides habitat and food for a
variety of species, including birds, mammals, insects
and plants, helping to maintain the forest’s food
chain. Furthermore, they help to stabilize the soil
and prevent erosion, and the tree’s fruits and palm
hearts are used as a source of food and income for
indigenous and traditional communities.
Environmental projects
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Find out about other environmental support
projects in the Biodiversity Complementary Booklet.
» Conducted by researchers from the SATC
Technological Center (CTSatc), the Palmito Project
envisages the production and planting of 10
thousand seedlings in regions where their absence
was found, in the municipalities of Morro Grande,
Nova Veneza and Siderópolis (SC). Additionally, the
project includes raising awareness in surrounding
communities.
Selected in the Socio-Environmental Projects
Notice for Eletrobras Companies in 2021 (page
129), the project is financed by CGT Eletrosul.
» Amazonian Manatee Project: Conducted in
partnership with Associação Amigos do Peixe-
boi, the objective is to release these animals into
the wild. Currently, 48 Amazonian manatees
(Trichechus inunguis) are kept in captivity at the
facilities of the Center for Preservation and
Research of Aquatic Mammals and Chelonians
at UHE Balbina, and we carry out environmental
education programs in riverside communities
surrounding the release sites. For an one-year
period, released animals will be monitored by
radiotelemetry, to ensure their adaptation.
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Appendices
CHAPTER 6
Eletrobras CGT Eletrosul Headquarters - Photo: Hermínio Nunes
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Assurance report
Centrais Elétricas Brasileiras
S.A. - Eletrobras
Independent auditor’s limited assurance
report on non-financial information
included in the Annual Report for 2023
To the Board of Directors and Stockholders
Centrais Elétricas Brasileiras S.A. - Eletrobras
Rio de Janeiro - RJ
Introduction
We have been engaged by Centrais Elétricas Brasileiras
S.A. - Eletrobras (“Company” or “Eletrobras”) to present
our limited assurance report on the non-financial
information included in the 2023 Annual Report of
Centrais Elétricas Brasileiras S.A. - Eletrobras for the
year ended December 31, 2023.
Our limited assurance does not cover prior-period
information, or any other information disclosed
together with the 2023 Annual Report, including any
incorporated images, audio files or videos.
Responsibilities of the management of
Centrais Elétricas Brasileiras S.A. - Eletrobras
The management of Centrais Elétricas Brasileiras S.A. -
Eletrobras is responsible for:
• selecting or establishing adequate criteria for the
preparation and presentation of the information
included in the 2023 Annual Report;
• preparing the information in accordance with the
criteria and guidelines of the Global Reporting Initiative
(GRI-Standards) and with the basis of preparation
developed by the Company; and
• designing, implementing and maintaining internal
control over the significant information for the
preparation of the information included in the
2023 Annual Report, which is free from material
misstatement, whether due to fraud or error.
Our independence and quality control
We comply with the independence and other ethical
requirements of the Federal Accounting Council (CFC) in
NBCs PG 100 and 200 and NBC PA 291, which are based
on the principles of integrity, objectivity and professional
competence, and which also consider the confidentiality
and behavior of professionals.
We apply the Brazilian and international quality control
standards established in NBC PA 01, issued by the CFC, and
thus maintain an appropriate quality control system that
includes policies and procedures related to compliance
with ethical requirements, professional standards, legal
requirements and regulatory requirements.
Independent auditor’s responsibility
Our responsibility is to express a conclusion on the non-
financial information included in the 2023 Annual Report,
based on our limited assurance engagement carried
out in accordance with the Technical Communication
CTO 01 - “Issuance of an Assurance Report related to
Sustainability and Social Responsibility”, issued by the
Federal Accounting Council (CFC), based on the Brazilian
standard NBC TO 3000 - “Assurance Engagements Other
than Audit and Review”, also issued by the CFC, which
is equivalent to the international standard ISAE 3000 -
“Assurance engagements other than audits or reviews of
historical financial information”, issued by the International
Auditing and Assurance Standards Board (IAASB). Those
standards require that the auditor complies with ethical
requirements, independence requirements, and other
responsibilities of these standards, including those
regarding the application of the Brazilian Quality Control
Standard (NBC PA 01) and, therefore, the maintenance
of a comprehensive quality control system, including
documented policies and procedures on the compliance
with ethical requirements, professional standards and
relevant legal and regulatory requirements.
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Moreover, the aforementioned standards require that
the work be planned and performed to obtain limited
assurance that the non-financial information included
in the 2023 Annual Report, taken as a whole, is free
from material misstatement.
A limited assurance engagement conducted in
accordance with the Brazilian standard NBC TO 3000
and ISAE 3000 mainly consists of making inquiries
of management of Centrais Elétricas Brasileiras S.A.
and other professionals of Eletrobras involved in the
preparation of the information, as well as applying
analytical procedures to obtain evidence that allows
us to issue a limited assurance conclusion on the
information, taken as a whole. A limited assurance
engagement also requires the performance of
additional procedures when the independent auditor
becomes aware of matters that lead him to believe that
the information disclosed in the Annual Report taken
as a whole might present material misstatements.
The procedures selected are based on our
understanding of the aspects related to the
compilation, materiality, and presentation of the
information included in the 2023 Annual Report, other
circumstances of the engagement and our analysis
of the activities and processes associated with the
material information disclosed in the 2023 Annual
Report in which material misstatements might exist.
The procedures comprised:
a. planning the work, taking into consideration the
materiality and the volume of quantitative and
qualitative information and the operating and
internal control systems that were used to prepare
the information included in the 2023 Annual Report;
b. understanding the calculation methodology and
the procedures adopted for the compilation of
information and indicators through interviews with
the managers responsible for the collection and
consolidation of Eletrobras’ data, as well as the
managers responsible for the preparation of the
information of the following subsidiaries, whose
information was consolidated in the 2023 Annual
Report: Companhia Hidro Elétrica do São Francisco
- Eletrobras Chesf; Furnas Centrais Elétricas S.A.
- Eletrobras Furnas; Companhia de Geração e
Transmissão de Energia Elétrica do Sul do Brasil -
Eletrobras CGT Eletrosul; Centrais Elétricas do Norte
do Brasil S.A. - Eletrobras Eletronorte; and Eletrobras
Participações S.A. - Eletropar;
c. applying analytical procedures to quantitative
information and making inquiries regarding the
qualitative information and its correlation with the
indicators disclosed in the 2023 Annual Report;
d. when non-financial data relate to financial indicators,
comparing these indicators with the audited financial
statements; and
e. the limited assurance engagement also included
the analysis of the compliance with the guidelines
and criteria of the Global Reporting Initiative (GRI-
Standards), and the provisions established in the
basis of preparation developed by the Company.
Our procedures did not include assessing the
adequacy of the design or operating effectiveness of
the controls, testing the data on which the estimates
are based or separately developing our own estimate
to compare with Eletrobras’ estimate.
We believe that the evidence we obtained is
sufficient and appropriate to provide a basis for our
limited assurance conclusion.
Scope and limitations
The procedures applied in a limited assurance
engagement vary in nature and timing, and are less
detailed than those applied in a reasonable assurance.
Consequently, the level of assurance obtained in a
limited assurance engagement is substantially lower
than the level that would be obtained in a reasonable
assurance engagement. Had we performed a reasonable
assurance engagement, we might have identified other
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6. Appendices
matters and possible misstatements in the information
included in the 2023 Annual Report. Therefore, we do
not express an opinion on this information.
Non-financial data are subject to more inherent
limitations than financial data, due to the nature and
diversity of the methods used to determine, calculate
and estimate these data. Qualitative interpretations
of the materiality, relevance, and accuracy of the data
are subject to individual assumptions and judgments.
Furthermore, we did not consider in our engagement the
data reported for prior periods, nor future projections
and goals, including results of goals established by
Eletrobras’ Business and Management Master Plan
(PDNG) and Business and Management Plan (PNG)
attached to the 2023 Annual Report.
The contents included in the scope of this assurance
engagement are presented in the basis of preparation of
the 2023 Annual Report.
The preparation and presentation of non-financial
information and indicators followed the definitions of
the basis of preparation developed by the Company and
the guidelines of the Global Reporting Initiative (GRI-
Standards), therefore, the information included in the
2023 Annual Report does not aim to provide assurance
with regard to the compliance with social, economic,
environmental or engineering laws and regulations.
Those standards establish, however, the presentation
and disclosure of any non-compliance with such
regulations when significant sanctions or fines occur.
Our assurance report should be read and understood
in this context, inherent to the criteria selected and
previously mentioned in this paragraph.
The absence of a significant set of established practices on
which to base the evaluation and measurement of non-
financial information allows for different but acceptable
evaluation and measurement techniques, which can affect
comparability between entities and over time.
Emphasis of matter
On April 29, 2024, we issued a limited assurance report
on the non-financial information included in the Annual
Report 2023 of Centrais Elétricas Brasileiras S.A. -
Eletrobras (Annual Report 2023) for the year ended
December 31, 2023, which is now being reissued. This
report changes and supersedes the report previously
issued to reflect the need to adjust the calculation of the
intensity of greenhouse gas (GHG) emissions related to
the indicators “Intensity of GHG emissions – Intensity of
emissions (scopes 1, 2 and 3) – By net energy produced
(tCO2/MWh)” and “GHG emissions intensity – Emissions
intensity (scopes 1 and 2 without losses) – By net energy
produced (tCO2/MWh)” for 2023, listed on page 146
of the Annual Report 2023 and in the “Climate Change
(304-5)” of the Indicator Booklet 2023. The data
presented in these indicators published on April 29,
2024 considered in the denominator “quantity of net
energy produced in MWh”, the net energy generated
in own projects and by SPEs. The adjusted information
considers the net energy generated in own projects
and disregards the net energy generated by SPEs. Our
conclusion is not qualified in respect of this matter.
Conclusion
Based on the procedures performed, described herein,
and on the evidence obtained, no matter has come to
our attention that causes us to believe that the non-
financial information included in the 2023 Annual
Report of Centrais Elétricas Brasileiras S.A. - Eletrobras
has not been compiled, in all material respects, in
accordance with the criteria and guidelines established
by the basis of preparation and the guidelines of the
Global Reporting Initiative (GRI-Standards).
São Paulo, May 21, 2024
PricewaterhouseCoopers
Auditores Independentes Ltda.
CRC 2SP000160/O-5
Eliane Kihara
Contadora CRC 1SP212496/O-5
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6. Appendices
GRI Content Index
GRI STANDARDS
DISCLOSURE
PAGE/URL
OMISSION
SDG
GENERAL DISCLOSURES
THE ORGANIZATION AND ITS REPORTING PRACTICES
GRI 2:
General
Disclosures
2021
2-1 • Organizational details
Pages 20 and 23 . Headquarters location: Av. Graça Aranha, 26 - Centro, Rio de Janeiro / RJ Zip Cep:
20030-000
2-2 • Entities included in the organization’s sustainability reporting
Pages 4 and 23. There are no differences between the list of entities included in our financial report and
the list included in our sustainability report.
Changes in indicator limits are signaled in the Basis of Preparation.
2-3 • Reporting period, frequency and contact point
Pages 4 and 5. The previous annual report was published in April 2023. Financial statements are
published in an annual basis.
2-4 • Restatements of information
Pages 70, 96 and 103. Any changes to the calculation methodology and indicator limits are detailed in
the Basis of Preparation.
2-5 • External assurance
Page 5. The Eletrobras Annual Report is assured in accordance with the Executive Board and Board of
Directors guidance. There is no formal assurance policy.
ACTIVITIES AND WORKERS
GRI 2:
General
Disclosures
2021
2-6 • Activities, value chain and other business relationships
Pages 20, 23, 24, 87 and 88.
2-7 • Employees
Pages 90, 91, 92 and 93. The data was collected through SAP reports, based on the date of 31/Dec/2023.
8, 10
2-8 • Workers who are not employees
Pages 90 and 92.The data was collected through SAP reports, based on the date of 31/Dec/2023.
There were no significant fluctuations in the number of service providers.
GOVERNANCE
GRI 2:
General
Disclosures
2021
2-9 • Governance structure and composition
Pages 41, 42, 44, 45, 104 and 106. Other relevant commitments and roles of governance members can
be found on the Board and Council page of our IR website. There is no representation of stakeholders on
the Board of Directors.
c.VII. The composition of the
highest governance body by
competencies relevant to the
organization’s impacts is not
available. We estimate this
disclosure will be fully met
within two years.
5, 16
2-10 • Nomination and selection of the highest governance body
Pages 42, 43 and 44.
5, 16
2-11 • Chair of the highest governance body
The Chairman of Eletrobras Board of Directors does not hold an executive role in the company.
16
2-12 • Role of the highest governance body in overseeing the
management of impacts
Pages 32, 43, 44, 61 and 134.
16
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GRI STANDARDS
DISCLOSURE
PAGE/URL
OMISSION
SDG
GRI 2:
General
Disclosures
2021
2-13 • Delegation of responsibility for managing impacts
Pages 32 and 44. Critical issues are brought to the Board whenever necessary.
2-14 • Role of the highest governance body in sustainability
reporting
Page 5.
2-15 • Conflicts of interests
Page 56.
16
2-16 • Communication of critical concerns
Page 57.
2-17 • Collective knowledge of the highest governance body
Page 46.
2-18 • Performance evaluation of the highest governance body
Page 46.
2-19 • Remuneration policies
Page 47.
2-20 • Process to determine remuneration
Page 47. Because they are linked to the company’s strategic plan, the compensation structure takes into
account the perspective of its stakeholders, including shareholders.
2-21 • Annual total compensation ratio
Ratio of the annual total compensation for the organization’s highest-paid individual to the median annual
total compensation for all employees (excluding the highest-paid individual): 4.95
Ratio of the percentage increase in annual total compensation for the organization’s highest-paid
individual to the median percentage increase in annual total compensation for all employees (excluding the
highest-paid individual): 1.1
The calculation was carried out based on the sum of payments for each enrollment per month (from
January to December 2023).
STRATEGY, POLICIES AND PRACTICES
GRI 2:
General
Disclosures
2021
2-22 • Statement on sustainable development strategy
Page 6.
16
2-23 • Policy commitments
Pages 22, 33, 37, 48, 49, 50, 87, 88, 115. The Code of Conduct establishes that the company must act in
accordance with the principles of prevention and precaution.
16
2-24 • Embedding policy commitments
Pages 49, 50, 86, 88, 108, 115.
2-25 • Processes to remediate negative impacts
Pages 33, 58, 59, 61, 115, 119, 129, 134, 134, 135, 151, 159 and 160. No stakeholders were involved in
improving grievance channels
2-26 • Mechanisms for seeking advice and raising concerns
Pages 57, 58 and 59.
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GRI STANDARDS
DISCLOSURE
PAGE/URL
OMISSION
SDG
GRI 2:
General
Disclosures
2021
2-27 • Compliance with laws and regulations
9 cases were identified in which significant fines were incurred against Eletrobras companies- in other
words, fines in excess of R$100,000 during the reporting period. No cases were identified in which non-
monetary sanctions were applied.
Four fines were paid during the reporting period:
• A fine was imposed on Chesf, the amount paid was R$12,969,872.92;
• Eletronorte received two fines, with amounts paid of R$3,009,771.82 and R$1,405,825.29; and
• A fine was imposed on Furnas, with an amount paid of R$ 26,682,976.26
Eletropar paid 2 fines in the current reporting period, totaling R$40,500.00. In this case, all incidents
received by the company were recorded.
We also identified 9 cases of significant fines imposed on Eletrobras companies, which were paid during the
reporting period, but referred to occurrences from previous years:
• Two paid fines to CGT Eletrosul, the values of which were R$181,129,251 and R$ 7,716,681
• Chesf paid two fines, with amounts of R$20,500,391 and R$272,252
• Two fines paid by Eletronorte, with amounts of R$28,776,375 and R$202,387 and
• Furnas paid three fines, the amounts paid were R$4,684,150, R$146,325 and R$132,830.
We have adopted the value of R$100,000.00 as a reference for reporting fines.
2-28 • Membership associations
Page 64.
STAKEHOLDER ENGAGEMENT
GRI 2: General
Disclosures 2021
2-29 • Approach to stakeholder engagement
Page 13.
2-30 • Collective bargaining agreements
All employees are covered by collective bargaining agreements.
8
MATERIAL TOPICS
GRI 3: Material
Topics 2021
3-1 • Process to determine material topics
Page 8.
3-2 • List of material topics
Pages 9, 10, 62 and 78.
ETHICS, INTEGRITY & COMPLIANCE
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Pages 48, 51, 52 and 54.
GRI 205: Anti-
corruption 2016
205-1 • Operations assessed for risks related to corruption
Pages 54 and 55.
16
205-2 • Communication and training about anti-corruption policies
and procedures
Pages 52 and 53.
16
205-3 • Confirmed incidents of corruption and actions taken
No confirmed cases of corruption were reported in 2023.
16
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GRI STANDARDS
DISCLOSURE
PAGE/URL
OMISSION
SDG
GRI 415:
Public policies
415-1 • Political contributions
Following Brazilian legislation, Eletrobras Group does not support or make contributions to
campaigns or political parties of candidates for elected office, nor do they allow professionals to
do so on behalf of the company. This requirement is established in Eletrobras Code of Conduct,
Eletrobras Group Anti-Corruption Policy, in addition to complying with Brazilian legislation.
GOVERNMENT RELATIONS AND ADVOCACY
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Pages 62.
t is. ii, iii, iv. Information about
goals, indicators, effectiveness
and learnings are not available.
We estimate this disclosure will be
fully met within two years.
INNOVATION AND TECNOLOGY
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Pages 80, 82 and 83.
GRI 203: Indirect
economic
impacts 2016
203-2 • Significant indirect economic impacts
Due to the nature of the business, our operations effectively contribute to social transformation,
through economic progress and the well-being of society. Positive aspects include the provision
of electricity services, which induces economic and social development, generating jobs and
income, education, health, safety and quality of life for populations, as there is an increase in tax
collection by governments. There is also the payment of Financial Compensation for the Use of
Water Resources (CFURH), of great importance for the States, Municipalities and bodies of the
Direct Union Administration, which is connected to the National Water Resources Policy and the
Science, Technology and Innovation agendas, given that part of the resource is made available to
the National Scientific and Technological Development Fund.
Negative aspects include change in land use, with interference in historical, cultural and
archaeological heritage and land pressure with risks to biodiversity. All these aspects are
managed with the support of programs developed in the projects’ construction and operation
phases, including social communication and environmental education actions. Public hearings are
held with the involvement of all interested parties, including traditional populations living in the
vicinity of the projects.
1, 3, 8
GRI 418: Custo-
mer privacy 2016
418-1 • Substantiated complaints regarding breach of privacy and
loss of customer data
As reported on page 86, a leak, theft or loss of data was identified. No complaints regarding
privacy violations received by regulatory agencies were identified.
16
Sector
supplement -
Research and
Development
EU8 • Research and development activity and expenditures aimed
at providing reliable electrical energy and promoting sustainable
development
Pages 80, 82 and 142. With the purpose of developing innovation projects and programs, we have
20 employees dedicated exclusively to Research, Development and Innovation activities. Another
226 are partially dedicated to the topic. In order to support team development, 490 employees
received training on Innovation. As a result, we had three patents registered with the INPI
throughout 2023. Also, we filed another nine applications for the body’s evaluation. Throughout
the year we received no fines related to Research, Development and Innovation.
7, 9, 17
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GRI STANDARDS
DISCLOSURE
PAGE/URL
OMISSION
SDG
WORKER HEALTH, SAFETY AND WELL-BEING
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Pages 108 and 114.
GRI 403:
Occupational
health and
safety 2019
403-1 • Occupational health and safety management system
Page 108.
8
403-2 • Hazard identification, risk assessment, and incident
investigation
Pages 108, 110 and 113.
b, c. No specific information
is available on protection
against reprisals, although
internal regulations provide for
the interruption of activities
if employees perceive the
existence of adverse conditions
or immediate risk.
3, 8
403-3 • Occupational health services
Pages 108, 111 and 113.
3, 8
403-4 • Worker participation, consultation, and communication on
occupational health and safety
Pages 111 and 113. In line with regulatory standard No. 05, CIPA aims to monitor the process of
hazard identification, risk assessment and prevention measures implemented by the company. It
meets monthly and decisions are made, preferably, by consensus among representatives.
8, 16
403-5 • Worker training on occupational health and safety
Pages 110 and 113.
8
403-6 • Promotion of worker health
Pages 111 and 112.
3
403-7 • Prevention and mitigation of occupational health and safety
impacts directly linked by busines relationships
Pages 108 and 110.
8
403-9 • Work-related injuries
Page 114. The number of hours worked per month, as reported in transaction zhr584, is calculated
as the number of employees in the month multiplied by a standard workload of 167 hours. (MHW =
Headcount x 167).
Based on RMPs, risk analyses and occurrences recorded in 2023, the main hazards are associated
with mobile vehicles and equipment, electricity and working at heights. By analyzing these
incidents, we identify, implement and continue to develop measures to minimize these risks,
including: establishment of a Commitments for Life policy, systematization of risk assessment
and OHS tools, recognition program, comprehensive health programs, creation and unification of
security processes, among others.
b, f. The Eletrobras Group
database does not include
indicators of accidents involving
outsourced workers. We estimate
this disclosure will be fully met
within two years.
3, 8, 16
Sector Supple-
ment - Em-
ployment
EU16 • Policies and requirements regarding health and safety of
employees and employees of contractors and subcontractors
Pages 110 and 113.
8
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GRI STANDARDS
DISCLOSURE
PAGE/URL
OMISSION
SDG
ATTRACTING, DEVELOPING AND RETAINING EMPLOYEES
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Page 93 and 94.
GRI 401:
Employment
2016
401-1 • New employee hires and employee turnover
Pages 94 and 95.
5, 8, 10
401-2 • Benefits provided to full-time employees that are not
provided to temporary or part-time employees
Page 97. There is no distinction between benefits depending on different working hours at
Eletrobras. The information reported covers only the holding company and its own employees. The
definition of operational unit is provided in the Basis of Preparation.
3, 5, 8
401-3 • Maternity/paternity leave
Page 96.
5, 8
Sector Supple-
ment - Em-
ployment
EU14 • Programs and processes to ensure the availability of qualified
labor
Page 86, 100 and 104.
4, 8
CUSTOMER RELATIONSHIP
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Pages 77 and 78.
a, b, c. Information on impacts
and commitments are not
available. We estimate this
disclosure will be fully met within
two years.
Sector supple-
ment - Access
EU3 • Residential, industrial, institutional and commercial consumers
Page 78.
Sector supple-
ment - Access
EU23 • Programs, including those in partnership with the
government, to improve or maintain access to electricity and
customer support services
Pages 79 and 132.
RELATIONS WITH COMMUNITIES
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Pages 118, 125 and 129.
GRI 410: Safety
practices 2016
410-1 • Security personnel trained in human rights policies or
procedures
Page 117. Everyone (employees and third parties) meets the same training requirements.
16
GRI 411: Rights
of indigenous
peoples 2016
411-1 • Cases of violation of indigenous peoples’ rights
Page 125. No cases of violation of indigenous peoples’ rights were identified.
2
GRI 413: Local
communities
2016
413-1 • Operations with local community engagement, impact
assessments, and development programs
Pages 118, 122, 125, 126, 127, 129 and 130.
413-2 • Operations with significant actual and potential negative
impacts on local communities
Pages 118, 119 and 120.
1, 2
Sector Supple-
ment - Local-
communities
EU20 • Approach to managing the impacts of displacement
Page 118, 121 and 122.
1, 2, 11
EU21 • Contingency planning measures, disaster/emergency
management plans, training programs and recovery/restoration
plans
Pages 110, 121 and 123.
1, 11
EU22 • Number of people physically or economically displaced and
compensation, broken down by type of project
Page 121 and 123.
1, 2
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GRI STANDARDS
DISCLOSURE
PAGE/URL
OMISSION
SDG
CLIMATE CHANGE AND ENERGY TRANSITION
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Pages 135, 137, 138, 139, 140, 143 and 146.
GRI 201:
Economic per-
formance 2016
201-2 • Financial implications and other risks and opportunities due
to climate change
Pages 144 and 145.
A.V. Information not available.
We have not yet mapped out the
costs of actions taken to manage
the risks are opportunities. We
estimate this disclosure will be
fully met within two years.
13
GRI 302:
Energy 2016
302-1 • Energy consumption within the organization
Page 148. We used the conversion factors for fuel and electrical energy consumption from the National
Energy Balance 2023 (Annex VIII) published by the Energy Research Company (EPE)
7, 8, 12, 13
GRI 305:
Emissions 2016
305-1 • Direct (Scope 1) GHG emissions
Page 146. Further information in the Greenhouse Gas (GHG) emissions inventory
3, 12, 13, 14, 15
305-2 • Indirect (Scope 2) GHG emissions
Page 146. Further information in the Greenhouse Gas (GHG) emissions inventory
3, 12, 13, 14, 15
305-3 • Other indirect (Scope 3) GHG emissions
Page 146. Further information in the Greenhouse Gas (GHG) emissions inventory
3, 12, 13, 14, 15
305-4 • GHG emissions intensity
Page 146. Further information in the Greenhouse Gas (GHG) emissions inventory
13, 14, 15
305-5 • Reduction of GHG emissions
Page 146. Further information in the Greenhouse Gas (GHG) emissions inventory
13, 14, 15
305-6 • Emissions of ozonedepleting substances (ODS)
Page 147. Further information in the Greenhouse Gas (GHG) emissions inventory
No information is available on
ODS emissions. Other emissions
are detailed in Eletrobras
emissions inventory
3, 12
305-7 • Nitrogen oxides (NOx), sulfur oxides (SOx), and Other
significant air emissions
Page 146. Further information in the Greenhouse Gas (GHG) emissions inventory
3, 12, 14, 15
Sector supple-
ment - Organi-
zational profile
EU5 • Allocation of allowance or equivalent of CO2e emissions,
broken down by the carbon trading framework
Page 140.
Sector supple-
ment - Availabi-
lity and reliability
EU10 • Planned capacity versus projected long-term energy demand,
broken down by energy source and regulatory regime
Pages 67 and 69.
7
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GRI STANDARDS
DISCLOSURE
PAGE/URL
OMISSION
SDG
WATER AND EFFLUENT MANAGEMENT
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Pages 135, 149, 151 and 152.
GRI 303: Water
and effluents
2018
303-1 • Interactions with water as a shared resource
Pages 149, 150, 151, 152 and 154.
6, 12
303-2 • Management of water discharge-related impacts
Pages 152. All facilities are subject to Conama standards (Resolutions 357/05 and 430/2011).
6
303-3 • Water withdrawal
Pages 150, 152 and 153. The definition of water stress area is provided in the Basis of Preparation.
6, 8, 12
303-4 • Water discharge
Pages 150, 152 and 153. Eletrobras Group did not identify priority substances that raise concern. The
definition of water stress area is provided in the Basis of Preparation.
a. The IGS RELAT data
collection system does not
compile information by type of
destination
6
303-5 • Water consumption
Pages 152 and 153. There were no changes in the ways of storing water in relation to previous years. The
definition of water stress area is provided in the Basis of Preparation.
6
BIODIVERSITY AND ECOSYSTEM SERVICES
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Pages 156 e 160.
GRI 304: Biodi-
versity 2016
304-2 • Significant impacts of activities, products, and services on
biodiversity
Pages 156, 158 and 159.
6, 14, 15
304-3 • Habitats protected or restored
Pages 160, 161 and 165.
6, 14, 15
304-4 • IUCN Red List species and national conservation list species
with habitats in áreas affected by operations
Pages 163 and 165.
6, 14, 15
DIVERSITY, INCLUSION AND FIGHTING DISCRIMINATION (RELEVANT TOPIC)
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Page 102.
GRI 405:
Diversity and
equal oppor-
tunities 2016
405-1 • Diversity in governance bodies and employees
Pages 102, 104, 105 and 106.
5, 8
405-2 • Ratio of the basic salary and remuneration received by
women and those received by men
Page 103. Information about important positions and operational units is provided in the Basis of
Preparation
5, 8, 10
GRI 406:
Non-discrimi-
nation 2016
406-1 • Cases of discrimination and corrective measures taken
Page 102.
5, 8
TAX STRATEGY (RELEVANT TOPIC)
GRI 3: Material
Topics 2021
3-3 • Management of material topics
Page 75.
GRI 207: Taxes
- Management
Method
207-1 • Tax approach
Page 75.
1, 10, 17
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GRI STANDARDS
DISCLOSURE
PAGE/URL
OMISSION
SDG
OTHER INDICATORS
GRI 201: Eco-
nomic perfor-
mance 2016
201-1 • Direct economic value generated and distributed
Page 73.
8, 9
GRI 204:
Procurement
practices 2016
204-1 • Proportion of spending on local suppliers
Page 87. The geographical definition of “local” is provided in the Basis of Preparation. For the holding
company, “significant operating units” means subsidiaries Furnas, CGT Eletrosul, Eletronorte, Chesf and
Eletropar.
8
GRI 404: Training
and educa-
tion 2016
404-1 • Average hours of training per year per employee
Page 101.
4, 5, 8, 10
404-2 • Programs for upgrading employee skills and transition
assistance programs
Pages 93 and 100.
8
404-3 • Percentage of employees receiving regular performance and
career development reviews
Page 100.
5, 8, 10
GRI 407:
Freedom of
association
and collective
bargaining 2016
407-1 • Operations and suppliers in which the right to freedom of
association and collective bargaining may be at risk
Page 117.
8
GRI 408: Child
labor 2016
408-1 • Operations and suppliers at significant risk for incidents of
child labor
Page 117. In 2023, we began a Human Rights Impact Assessment (AIDH) at the Paulo Afonso Hydroelectric
Complex (page 116), which should be replicated for other operations in 2024. The results are not yet
available.
b.II. The IGS RELAT system does
not currently provide information
broken down by geographic area
8, 16
GRI 409: Forced
or compulsory
labor 2016
409-1 • Operations and suppliers at significant risk for incidents of
forced or compulsory labor
Page 117. In 2023, we began a Human Rights Impact Assessment (AIDH) at the Paulo Afonso Hydroelectric
Complex (page 116), which should be replicated for other operations in 2024. The results are not yet
available.
b.II. The IGS RELAT system does
not currently provide information
broken down by geographic area
8
Sector supple-
ment - Organi-
zational rofile
EU1 • Installed capacity, broken down by primary energy source and
by regulatory regime
Pages 66 and 67.
7
EU2 • Net energy output broken down by primary energy source and
by regulatory regime
Pages 66, 67 and 68.
7, 14
EU4 • Length of above and underground transmission and
distribution lines by regulatory regime
Page 66 and 70.
Sector supple-
ment - Availabi-
lity and reliability
EU6 • Management approach to ensure short and long-term
electricity availability and reliability
Page 70.
Sector supple-
ment - System
Efficiency
EU11 • Average Generation efficiency of thermal plants by energy
source and by regulatory regime
Page 68.
7, 8, 12, 13, 14
EU12 • Transmission and distribution losses as a percentage of total
energy
Page 70.
7, 8, 12, 13, 14
Sector supple-
ment - Access
EU30 • Average plant availability factor by energy source and by
regulatory regime
Page 68.
1, 7
ANNUAL REPORT
2023
179
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Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices
Eletrobras – Centrais Elétricas Brasileiras S.A.
provides several channels for communication
with stakeholders.
CORPORATE INFORMATION
Website: www.eletrobras.com
Facebook: www.facebook.com/Eletrobras
YouTube: www.youtube.com/user/SistemaEletrobras
Twitter: @Eletrobras
Instagram: @eletrobrasoficial
LinkedIn: www.linkedin.com/company/eletrobras/
OMBUDSMAN
www.eletrobras.com/ouvidoria
ouvidoria@eletrobras.com
WHISTLEBLOWING CHANNEL
https://relatoconfidencial.com.br/eletrobras/
If you have any questions about our Integrity (Compliance)
Program or its related policies or guidelines, please write to
dcci@eletrobras.com
INVESTOR RELATIONS (IR)
Website: https://ri.eletrobras.com/
Contact our IR department: invest@eletrobras.com
IR Ombudsman: ombudsman-ri@eletrobras.com
If you have any questions about technical terms used in this
report, please refer to the Eletrobras Power Sector Glossary.
SUSTAINABILITY CHANNEL
Dedicated to addressing requests for ESG information:
https://www.eletrobras.com/canaldasustentabilidade
CHANNEL FOR COMMUNICATIONS RELATING TO THIS
REPORT
sustentabilidade@eletrobras.com
This Annual Report is the result of the effort of the
Eletrobras companies team. We thank everyone for their
participation and commitment.
GENERAL COORDINATION
Governance, Risks, Compliance and Sustainability Officer
Sustainability Officer
ESG Management Executive Management
Performance Management and Reporting
EDITORIAL GROUP
Communication Officer
Executive Management of Special Communication Projects
Management and Collection of Sustainability Indicators
IGS System
PHOTOGRAPHS
Eletrobras’ Image Collection
Adobe Stock
WRITING, GRI CONSULTING, EDITORIAL COORDINATION
AND PROJECT MANAGEMENT
Ricca Sustentabilidade
GRAPHIC DESIGN AND LAYOUT
Ricca Sustentabilidade
Credits
ANNUAL REPORT
2023
180
» Assurance Report
» GRI Content Index
» Credits
» Assurance Report
» GRI Content Index
» Credits
Contents
Welcome
1. Eletrobras
2. Governance
3. Prosperity
4. People
5. Planet
6. Appendices