Eco-Innovation in Brazilian Companies

The objective of this study was to analyse eco-innovation from the perspective of publicly traded Brazilian companies, components of the B3’s Corporate Sustainability Index (ISE B3). In the last decades, the discussion about sustainable business practices has developed towards a socio-environmental evolution to meet an increased demand for a more sustainable global society. As a result, researchers and managers are increasingly interested in eco-innovation. This study is a descriptive, comparative, and longitudinal analysis between ISE B3 and IBOVESPA (Brazil Stock Market Index) in the last ten years to understand the performance of publicly traded Brazilian companies, components of the ISE B3. The results show large concentration of sectors participating in the ISE B3. Superior results were found for ISE B3 in comparison with IBOVESPA. Pearson’s correlation coefficient was strong, positive, and significant at 1% between the indexes. However, analysing the individual performance, superior results were not evident if the company participates or not in the ISE B3 index.