Energy was even more relevant in the last year, when society faced the Covid-19 pandemic. Without energy, we would not be able to keep hospitals and essential industries running and bring comfort to everyone's homes. For us, this call for commitment and responsibility to the country was an opportunity to put our purpose and values into practice in every decision-making.
We kept our plants operating, with all safety measures for our employees. The entire administrative team was directed to remote work. On top of that, we have joined forces with civil society through the donation of chemical and biological protective coveralls to China and hospital equipment and 70% alcohol to the Brazilian public healthcare system.
We did not interrupt the modernization project of the Ilha Solteira and Jupiá plants either, reinforcing our commitment to care for our assets. Besides, we have moved forward on important projects in different areas at the company.
It has been really good! We dedicate efforts to support employees to deal with this new work reality and take care of their mental and emotional health. We had important deliveries of corporate initiatives that will take CTG Brasil to a new level of management. We reviewed the entire set of normative instruments with the policy improvement project (PIP), started the implementation of a new management system (Enterprise Resource Planning – ERP) with Project ONE and adopted, for the first time, the Zero-Base Budget (OBZ)methodology, which allowed a 20% budget reduction in 2020. We have also achieved ISO 9001, ISO 14001 and ISO 45001 certifications for ten hydropower plants and two small hydropower plants, through the Integrated Management System (IMS). We launched the CTG Academy, for the time being in a 100% digital environment, targeted at the qualification of the internal audience. There has been several robust projects, which only became a reality due to the commitment and excellence of our team. The R&D projects continued even with remote teams, such as the Digital Innovation Lab and the projects related to electric mobility approved in Aneel's Strategic R&D Project Call.
This was a very important step for us to follow the maturity of CTG Brasil with the adoption of good market practices in corporate governance. Our Advisory Board now has the presence of an independent member. Moreover, in March 2021 we completed the registration of Rio Paraná as a publicly-held company with the Brazilian Securities and Exchange Commission (CVM) for category “B”, allowing access to a wider range of investors in financial operations.
This is one of our primary values [We prioritize life], and we struggle really hard for achieving the zero accidents goal in our activities. Unfortunately, this year we had a fatal accident involving a service provider at our facilities, which alerted us to the need to implement even more strict and effective actions to ensure the health and safety of everyone who works with us.
Undoubtedly, the approval of the GSF Agreement represented a regulatory framework for the sector, providing a solution for the reimbursement related to the impacts caused by hydrological risks. It allows the company to settle debts in the short-term market with the consideration of extending the concessions and closes the legal disputes related to the issue that have been underway for years and that, in our case, involved Rio Paranapanema and Rio Verde. In a coordinated effort with other players in the sector in order to guarantee transparency and comparability between companies, we recognize the impacts arising from the Agreement on the 2020 Financial Statements. Now, we await the necessary procedures for the final signature of the document.
Sustainability is at the heart of our business and permeates CTG Brasil's purpose and strategic drivers. We wish to provide clean energy on a large scale and diversify our operations in other renewable sources, and this means, considering the company’s size, to have a direct impact so that Brazil continues to grow with low carbon energy. More than that, our vision is that this growth will take place in a sustainable way, adopting the best management practices and generating positive impacts for the communities and the environment in the locations where we are present. This performance is in line with the UN Sustainable Development Goals (SDGs) and is publicly recognized through our adherence as signatories to the Global Compact, since 2017.
We are even more convinced of the assertiveness of our strategy, steadfast in our commitment to Brazil and prepared for a new growth cycle in renewable energy sources. The year of 2020 was one of many challenges and I would like to thank all the people who remained dedicated and committed to our goals. I hope that 2021 will bring new and better times to the whole society. We will always continue to be strengthened in purpose, contributing to the sustainable development of the country.