The acknowledgment and respect that the BNDES has attained from Brazilian society is due, among other factors, to the lasting tradition of ethical behavior that is customary in its activities.

The continuity of such ethical tradition at the institution is a long-term commitment. This is where the efforts in ethics management stand apart.

Society increasingly demands the adoption of preventive and corrective measures regarding ethical violations, both in the public sector and in the private sector. The concern for ethical sustainability is gradually becoming standard in the initiatives of public power.

The BNDES formalized its commitment to ethics management in June 2002, with the creation of the BNDES’ Code of Ethics.

Nonetheless, practice and dissemination of ethical values call for constant renewal and consideration, charting and contextualizing the cultural changes and evolution of society.

Consequently, perceiving the need to incorporate the changes in our time into its Code of Ethics and indicate the values that will focus our role in and commitment to the following generations, the BNDES established, in April 2009, its New Code of Ethics of the BNDES System.

Participants in the BNDES System commit to basing their behavior and role on the constitutional principles of legality, impartiality, morality, publicness, and efficiency, as well as on the principle of ethics, including the fundamental value that should guide the integral development of human beings.

Ethics Management at the BNDES is conducted by the Ethics Committee of the BNDES System (CET/BNDES) and by the Ethics Committee Secretary (SECET/BNDES), by fostering efforts related to education processes, compatibilization of norms, putting incentive and improvement procedures for ethical principles into effect, as well as the verification and assessment of applicable penalties in the event of ethical breaches.