São Paulo, november 2022 – Aegea and the Brazilian Economic and Social Development Bank (BNDES) have signed a partnership agreement by which the company will join the Living Forest Program. The initiative, led by the bank, supports projects aimed at protecting headwaters and carrying out reforestation in Brazilian biomes.
The project will be “match funded”, i.e. for each R$1 contributed by the private sector, the bank gives a matching contribution of R$1. As such, Aegea’s contribution of R$5 million will amount to an investment of R$10 million for reforestation programs.
200 hectares will be restored
The investments will go to the Guariroba and Cabeceiras do Pantanal water basins in Mato Grosso, the Maricá-Guarapina lagoon system and the Surui River Environmental Protection Area in Rio de Janeiro. The partnership will restore 200 hectares in important regions where Aegea operates in Rio de Janeiro, Mato Grosso and Mato Grosso do Sul.
The adhesion agreement was signed on November 21 at the BNDES office in Brasília by the CEO of Aegea, Radamés Casseb, and the chairman of BNDES, Gustavo Montezano.
Benefits of the program for biomes and natural resources
By participating in the Living Forest Program, Aegea reaffirms its commitment to environmental protection and increases its actions aimed at preserving the climate by capturing carbon from nature. It also strengthens biodiversity maintenance and soil protection initiatives.
Another benefit is the increased water resilience in the biomes, since reforestation is one of the most effective ways to preserve water resources in water basins across the country.
Alignment with Aegea’s principles
“This initiative is aligned with our environmental protection pillar as it increases water resilience by recovering forests in the water basins of the regions where we operate,” said Radamés Casseb, CEO of Aegea.
“As the leaders in our segment, we understand our role in investing in actions that generate environmental and social impacts and the importance of joining hands to continuously build a legacy for the benefit of the country and future generations,” he concluded.
Positive social impacts on communities
“Living Forest is an initiative that will generate environmental, climate and economic gains for its donors, while creating valuable social impacts on the communities. Aegea is one more company that believes and works with BNDES in the new sustainability economy. It is one of the 15 partner institutions of the bank which, together, leverage their efforts and march towards the future,” said Gustavo Montezano, CEO of BNDES.
More about the Living Forest Program
Launched in November 2021, Living Forest is an initiative aimed at the environmental restoration of Brazilian biomes, with the focus on forming ecological corridors and recovering water basins.
The original goal was to invest R$500 million over seven years, with the Bank contributing up to 50% of the funds. However, this goal has been exceeded by 37% to reach R$686.27 million.
Increase of vegetation cover in all biomes
The initiative will implement projects to expand vegetation cover with native species at all Brazilian biomes, besides strengthening the technical and management structure of the production chain in the ecological restoration sector.
The results expected are a reduction in erosions, preservation of biodiversity, maintenance of water resources and improvement of microclimate.
With the match funding structure, BNDES plans to reach investments of R$1 billion, restore between 32,000 and 66,000 hectares, and remove up to 18 million tons of carbon dioxide from the atmosphere, considering a vegetation growth cycle of 25 years.
BNDES: 70 eventful years
BNDES has been the government’s main instrument for long-term investments in the Brazilian economy and one of the leading financiers of micro, small and midsized companies in the country.
The bank also plays an important countercyclical role during times of crisis as one of the providers of solutions for the resumption of economic growth.
Its current focus is primarily on creating and maintaining jobs and on improving public services such as education, health and sanitation. It also supports the country in a fair transition to a carbon neutral economy.
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