Mission Statement, Vision, & Core Values (2024) of Companhia Energética de Minas Gerais (CIG)

An Overview of Companhia Energética de Minas Gerais (CIG)

General Summary of Companhia Energética de Minas Gerais (CIG)

Companhia Energética de Minas Gerais (CIG) is one of Brazil's largest electric utility companies, established in 1952. It is headquartered in Belo Horizonte, Minas Gerais. CIG operates in the generation, transmission, and distribution of electricity, serving millions of customers across the Brazilian state of Minas Gerais and beyond.

As of 2024, CIG's main products and services include:

• Electricity Generation
• Electricity Transmission
• Electricity Distribution
• Renewable Energy Solutions
• Energy Efficiency Consulting

In terms of financial performance, CIG has reported a significant sales figure of approximately R$ 30 billion in 2024.

Company's Financial Performance in the Latest Financial Reports

In its latest financial report for the fiscal year 2023, Companhia Energética de Minas Gerais (CIG) recorded a record-breaking revenue of R$ 28.5 billion, marking a 15% increase from R$ 24.8 billion in 2022. Key highlights from the financial performance include:

The growth in revenue was primarily driven by an increase in electricity sales, with sales from renewable energy sources growing significantly.

Introduction to Company as a Leader in the Industry

Companhia Energética de Minas Gerais (CIG) stands out as a leader in the Brazilian energy sector, recognized for its commitment to sustainability and innovation. With a generation capacity exceeding 10,000 MW and a broad distribution network, CIG plays a crucial role in the Brazilian energy landscape.

The company's pioneering efforts in renewable energy have placed it at the forefront of industry advancements. As of 2024, CIG derives over 40% of its energy from renewable sources, including hydro, wind, and solar.

To discover more about CIG's successes and its impact on the energy market, please continue reading below.

Mission Statement of Companhia Energética de Minas Gerais (CIG)

Overview of Companhia Energética de Minas Gerais (CIG) Mission Statement

The mission statement of Companhia Energética de Minas Gerais (CIG) serves as a pivotal element that encapsulates the essence of the company's purpose, guiding its strategies and goals. The mission reflects CIG's commitment to delivering energy solutions that emphasize sustainability, innovation, and community engagement.

Core Component 1: Commitment to Sustainable Energy

CIG's mission highlights its commitment to sustainable energy production and consumption. As of 2024, approximately 40% of its energy comes from renewable sources, including hydroelectric, wind, and solar power. The company aims to increase this percentage to 50% by 2030.

• Investment in renewable energy projects: Between 2021 and 2023, CIG invested over BRL 1.5 billion in new renewable energy initiatives.
• Carbon neutrality goal: CIG has set a target to achieve carbon neutrality in its operations by 2050.

Core Component 2: Provision of High-Quality Energy Services

The second core component focuses on the delivery of high-quality energy services to its consumers. CIG's service reliability rate stands at 99.9%, indicating a strong track record in maintaining energy supply without interruptions.

In 2023, CIG reported a customer satisfaction rate of 87%, attributed to improved service protocols and digital transformation initiatives.

Core Component 3: Community Engagement and Development

CIG's mission also emphasizes its role in community engagement and development. In 2023, CIG allocated BRL 150 million for social projects aimed at improving the quality of life in the regions it serves.

• Programs for education and training: CIG launched over 20 educational programs in collaboration with local governments.
• Employment creation: In 2023, CIG contributed to the creation of 3,500 jobs in the renewable energy sector.

Vision Statement of Companhia Energética de Minas Gerais (CIG)

Vision for Sustainable Energy Solutions

Companhia Energética de Minas Gerais (CIG) envisions a future where energy is sourced, distributed, and consumed in a sustainable manner. The company aims to lead the transition toward a cleaner energy mix, emphasizing renewable sources such as hydroelectric, solar, and wind energy. As of 2024, CIG targets to increase its renewable energy generation by 25%, aiming for a total capacity of 10,000 MW by 2025.

Commitment to Innovation and Technology

CIG's vision includes a focus on technological innovation to improve efficiency and reliability in energy production and distribution. The company plans to invest approximately R$ 1 billion in research and development over the next three years.

Customer-Centric Approach

The company seeks to enhance customer satisfaction by providing high-quality energy solutions. CIG aims to achieve a customer satisfaction rating of over 90% by 2024 through improved service delivery and engagement strategies.

Community and Social Responsibility

CIG is committed to fostering community development through energy access initiatives. The company plans to invest R$ 150 million in social projects by 2024, focusing on education, health, and infrastructure in underserved areas.

• Investment in education programs: R$ 60 million
• Health initiatives: R$ 50 million
• Infrastructure development: R$ 40 million

Environmental Stewardship

CIG's vision underscores a strong commitment to reducing its carbon footprint. The company aims to decrease greenhouse gas emissions by 20% by 2025, aligning with global climate goals.

Global Leadership in Energy Transition

CIG aspires to be a recognized leader in the global energy transition, participating in international forums and partnerships. The company aims to expand its international operations, seeking to increase its global footprint by 30% by 2025.

Core Values of Companhia Energética de Minas Gerais (CIG)

Integrity

Integrity is fundamental to Companhia Energética de Minas Gerais (CIG). It encompasses transparency, accountability, and ethical conduct in all business dealings.

• In 2022, CIG achieved a score of 90% in the Global Reporting Initiative (GRI) compliance assessment, reflecting its commitment to transparency.
• CIG has an operational ethics hotline that received 120 reports in 2023, with 85% resolved within 30 days.

Innovation

Innovation drives CIG to explore new technologies and solutions to enhance efficiency and sustainability in the energy sector.

• In 2023, CIG invested R$ 200 million in renewable energy projects, including solar and wind initiatives.
• CIG launched a digital transformation initiative that increased operational efficiency by 15% in the first year.

Sustainability

Sustainability is a cornerstone of CIG's operations, focusing on minimizing environmental impact and promoting social responsibility.

• CIG reduced carbon emissions by 20% in 2022, aligning with Brazil's Nationally Determined Contributions under the Paris Agreement.
• The company has implemented a waste management program that recycled 60% of its operational waste in 2023.

Customer Focus

Customer Focus ensures that CIG prioritizes the needs and satisfaction of its clients through tailored services and support.

• In a 2023 satisfaction survey, 85% of customers rated their experience with CIG as 'excellent.'
• CIG developed a customer support app that reduced response times by 50% since its launch in early 2023.

Teamwork

Teamwork emphasizes collaboration among employees to foster a unified approach to achieving business goals.

• CIG has a cross-departmental project initiative, which resulted in the successful delivery of 10 key projects in 2022.
• The company conducted 15 team-building workshops in 2023 to enhance communication and collaboration among its workforce.

CIG’s core values not only define its organizational culture but also contribute to its reputation as a leader in the energy sector.