Comparação de desempenho entre empresas da carteira ISE-B3

Abstract

The pressures for investment portfolios committed to aligning profitability with environmental, social, and corporate governance (ESG) sustainability have intensified since the Paris Agreement. In this direction, this article aimed to compare the performance of economic-financial, market, and ESG indicators of companies comprising the ISE-2023 Portfolio, evaluating the association between these indicators from 2018 to 2022. To achieve this, the portfolio was segmented into companies that remained in the ISE Portfolio since 2022 (Group 1) and those newly added in 2023 (Group 2). Quantitative, descriptive, and documentary research techniques were employed, with median comparison (Mann-Whitney) and correlation (Spearman) to analyze associations between indicators and ESG. The sample consists of 54 companies, with 19 in Group 1. Group 2, with 35 companies, generally showed better ESG and market performance, suggesting a positive impact on the portfolio with the new additions. Significant associations occurred between market indicators and ESG, indicating a strong relationship between sustainable practices and market value. This study contributes to the literature by highlighting that the new composition of the ISE-2023 Portfolio underwent a significant renewal, and the new companies contribute to a better ESG assessment compared to those already part of it in 2022. As a practical contribution, it underscores to stakeholders the focus of the Brasil Bolsa e Balcão (B3) in strengthening the ISE Portfolio as a reference for investors seeking to allocate resources in companies committed to ESG actions.