The current Social, Environmental, and Climate Responsibility Policy (PRSAC) was approved by the BNDES Board of Directors on May 8, 2025, and by its Board of Director’s on May 23, 2025.

The full content of the Policy is presented below.

Corporate Social, Environmental, and Climate Responsibility Policy of the BNDES System

1. Introduction

1.1. The Social, Environmental, and Climate Responsibility Policy of the BNDES System, aligned with the institutional identity—Purpose, Vision, Mission, Values, and Principles—reaffirms the Bank’s historical commitment to the sustainable development of Brazil, contributing to the eradication of poverty and reduction of social inequalities, the valorization of sociobiodiversity and the protection of national biomes, the just transition to a carbon-neutral economy, adaptation to climate change, and socioeconomic recovery after emergency events, in line with the main public policies related to these themes and strategic guidelines.

1.2. This Policy establishes the concept of Social, Environmental, and Climate Responsibility for the BNDES System, as well as principles and guidelines that, observing aspects of proportionality and adequacy pursuant to CMN Resolution 4945/2021 of September 15, 2021 shall guide the conduct of the institution’s business, activities, and processes, as well as its relationship with stakeholders.

1.3. PRSAC is implemented by various processes, policies, and procedures established in other BNDES System regulations, such as exclusion and conditional support lists; social, environmental, and climate risk management procedures; financial solutions offered; and partnerships, cooperations, and coordination measures aimed at implementing public policies.

2. Concept

2.1. For the BNDES System, Social, Environmental, and Climate Responsibility means valuing and integrating the social, environmental, and climate dimensions into its governance, strategy, policies, practices, procedures, products, activities, and relationships toward sustainable and inclusive development.

2.2. The BNDES System’s actions seek to generate positive impacts on society and shared value for stakeholders—the internal community, the population affected by its activities, clients and users of its products and services, suppliers and service providers, investors, and other relevant partners.

3. Principles

3.1. The following principles guide BNDES’s actions:

• Principle 1 – Sustainable Development: Integrated promotion of sustainable development across territories considering the economic, social, environmental, and climate dimensions.
• Principle 2 – Human Rights: Full respect for and promotion of human rights, safeguarding fundamental labor rights, valuing diversity, equity and inclusion, combating all forms of discrimination, harassment or rights violations, and enabling access to development to improve quality of life.
• Principle 3 – Ethics, Integrity, and Transparency: Ethics, integrity, and transparency as pillars of action, fostering dialogue with its various audiences and providing accountability for its decisions and activities considering, whenever possible, stakeholders’ expectations and needs.
• Principle 4 – Alignment with Standards and Public Policies: Acting in alignment with Brazilian standards and public policies considering international pacts and agreements that promote sustainable development; reduction of social, regional, and poverty inequalities; the just and sustainable transition to a carbon-neutral economy; and the conservation of nature—such as the Sustainable Development Goals (2030 Agenda) and the Brazilian climate and biodiversity commitments under the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework.

4. Guidelines

4.1. The social, environmental, and climate responsibility guidelines listed below, together with other instruments, guide the strategic and operational actions of the BNDES System, including the management of social, environmental, and climate risks and potential impacts on society and the environment considering climate, biodiversity, and the needs of current and future generations.

• Guideline I – Support for Public Policies: Support and contribute to the continuous improvement of public policies associated with sustainable development, seeking to reduce social, regional, and economic inequalities, protect ecosystems and biodiversity, and promote a carbon-neutral economy, adaptation to climate change, and economic recovery after emergency events.
• Guideline II – Partnerships and Experience Sharing: Develop partnerships and share experiences with other organizations to promote sustainable development, including the just and sustainable transition to a carbon-neutral economy, encouraging good social, environmental, and climate responsibility practices in our relationships and strengthening dialogue among stakeholders and citizen participation in public management.
• Guideline III – Policies, Practices, and Procedures: Continuously develop and improve policies, practices, procedures, and other mechanisms that incorporate social, environmental, and climate criteria and contribute to sustainable local, regional, and national development considering a just and sustainable transition to a carbon-neutral economy.
• Guideline IV – Risk and Impact Management: Strengthen integrated management of social, environmental, and climate risks and minimize potential negative impacts of its activities on the environment and local communities.
• Guideline V – Monitoring and Impact Assessment: Continuously develop and improve methodologies and other instruments for monitoring and assessing social, environmental, and climate impacts and results generated by the Bank’s activities.
• Guideline VI – Knowledge and Culture in the Corporate Environment: Promote, within the BNDES System’s corporate environment, knowledge of and a culture of social, environmental, and climate responsibility and sustainable development, including the protection of ecosystems and biodiversity, promotion of human rights, and the just and sustainable transition to a carbon-neutral economy.
• Guideline VII – Work Environment: Implement policies that value employees and promote their personal and professional development, ensuring a safe, accessible, and inclusive work environment guided by mutual trust, with respect for human and labor rights.
• Guideline VIII – Financial Solutions: Make available and improve the offering of financial solutions to promote sustainable development, encouraging innovative practices and technologies that drive social, economic, and ecological transformation and contribute to the just and sustainable transition to a carbon-neutral economy.
• Guideline IX – Facilities and Administrative Activities: Strengthen sustainability requirements in the management of its facilities, administrative activities, and supply chain, contributing to environmental protection, combating climate change, and promoting fair social practices.
• Guideline X – Communication: Communicate internally and externally the most relevant social, environmental, and climate actions with transparency regarding the results of the BNDES System.

5. Strategy, Transparency, and Governance

5.1. The BNDES System establishes and implements plans and actions to promote the effective application of the principles and guidelines of this Policy and the continuous improvement of its social, environmental, and climate risk management system.

5.2. The BNDES System discloses in an accessible manner the plans, actions, and achievements of this Policy and provides transparency regarding its support instruments, exclusion list, list of pacts, agreements or commitments, stakeholder engagement mechanisms for the revision of the PRSAC, as well as the composition of the Social, Environmental, and Climate Responsibility Committee.

5.3. Governance is fundamental to ensuring the implementation of this Policy, and includes the following elements in accordance with their respective internal and applicable regulatory responsibilities:

• Board of Directors;
• Social, Environmental, and Climate Responsibility Committee, linked to the Board of Directors;
• Executive committees to discuss, deliberate, monitor, and evaluate the integration of social, environmental, and climate dimensions into its strategy, policies, practices, and procedures, including the Management and Sustainability Committee, responsible for promoting and monitoring the plans and actions of this Policy;
• Executive Board;
• Executive Director responsible for compliance with this Policy;
• Internal Audit;
• Ombudsperson; and
• Various BNDES units with specific responsibilities related to the subject, whether related to the core activity of granting financial support or to internal activities, such as risk management, compliance, strategic planning, fundraising, internal and external communication, institutional relations, human resources management, and regulatory development.

6. Policy Evaluation and Review

6.1.This Policy shall be evaluated and revised by the competent bodies at least every three years with the participation of stakeholders or extraordinarily at any time upon the occurrence of events identified as relevant by the applicable regulations.