Company undertakes to present environmental, social and governance improvements and practices
For the first time, the National Bank for Economic and Social Development (BNDES) approved a financing conditional on the public commitment to carry out an inventory of greenhouse gases. And the benefited company was Cipalam. The financing, in the amount of up to BRL 32 million, will be granted under the BNDES ASG Credit Line.
The program offers more attractive financial conditions to customers who prove the improvement of indicators, encouraging more efficient and sustainable business practices in the Environmental, Social and Governance (ESG) aspects. And Cipalam will produce a balance of greenhouse gas emissions – which will be carried out by a consultancy that has already been contracted.
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According to the BDNES, the inventory for greenhouse gases allows the monitoring of the emission sources of these residues. It is a management tool so that companies can have control with a goal to reduce emissions.
The financing also stipulates that the company presents the ISO 14001 environmental certificate and meets, at least, three minimum counterparts: creation and dissemination on the company’s website of a socio-environmental responsibility policy, incorporation of priority areas of action in Education and Diversity in the social policy of the client and presentation of a sustainability report.
BNDES ASG Credit Line
The program aims to directly support corporate business plans that prioritize sustainable development. Promoting reforestation, encouraging a sustainable chain in subsectors such as mining or steel, expanding the use of clean energy and encouraging regional digital connectivity are some of the program’s objectives.