BM&FBOVESPA - Securities, Commodities and Futures Exchange

Corporate Sustainability Index - ISE

Corporate Sustainability Index (ISE)


The Corporate Sustainability Index (ISE), a groundbreaking initiative in Latin America, is designed to create an investment environment compatible with contemporary society’s need for sustainable development and to encourage corporations to be ethically responsible. Its launch in 2005 was supported by the International Finance Corporation (IFC), the World Bank’s private-sector arm. Its methodology was designed by the Sustainability Research Center (GVCes) at Fundação Getulio Vargas’s Business School (FGV-EAESP).

The ISE is a tool for comparative analysis of the performance of the companies listed on BM&FBOVESPA from the standpoint of corporate sustainability, based on economic efficiency, environmental equilibrium, social justice and corporate governance. It also enhances public understanding of companies and groups committed to sustainability, differentiating them in terms of quality, level of commitment to sustainable development, equity, transparency and accountability, and the nature of their products, as well as business performance in the economic, financial, social, environmental and climate change dimensions.

In Brazil, this tendency has already begun and is expected to grow and consolidate rapidly. In response to this, BM&FBOVESPA and several other institutions – ABRAPP, ANBIMA, APIMEC, IBGC, IFC, Instituto ETHOS and the Environment Ministry – decided to join forces to create a stock index that would serve as a socially responsible investment benchmark. This gave rise to the Corporate Sustainability Index (ISE). The same organizations established a Board of Governors chaired by BM&FBOVESPA to act as the ISE’s highest governance body and guarantee a transparent process of Index construction and stock selection. Representatives of the United Nations Environment Program (UNEP), IBRACON and GIFE later joined the Board. BM&FBOVESPA is responsible for calculation and technical management of the Index.

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Note: Because it is part of the Corporate Sustainability Index’s Board of Governors (CISE), the Exchange does not put itself forward to be part of the ISE portfolio. CISE understands that it is important for BM&FBOVESPA to remain as its chair.

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Index portfolio 2015/2016

Index portfolio 2014/2015

Index portfolio 2013/2014

Index portfolio 2012/2013

Index portfolio 2011/2012

Note: Ethos Institute of Social Responsibility is suspended from ISE's board in the 2008/2009 portfolio period.