<p>Bnamericas reported that Brazilian development bank BNDES approved BRL 32 million-(USD 6.8 million) loan to local rolled steel producer Cipalam as part of its ESG agenda. BNDES’ Productive & Socio-Environmental Credit Director Mr Bruno Aranha said “BNDES hopes that other companies and creditors will use this experience to create similar mechanisms to encourage measurement, expanding the commitment to economic development, social inclusion and environmental protection.”</p><p>Loan requirement enables monitoring of emissions sources and lets companies control and reduce emissions</p><p>BNDES financing also stipulates that the company presents the ISO 14001 environmental certificates.</p><p>Cipalam benefits from BNDES’ innovation-linked loan concept offers more attractive conditions to companies that improve certain indicators including, encouraging more efficient and sustainable business, respecting environmental, social and governance aspects. One loan requirement involves Cipalam taking stock of greenhouse gas emissions, for which it hired an unnamed consultancy.</p><p>Minas Gerais state-based Brazilian steel company Companhia Ipatinguense de Laminagao buys slabs and billets from third party companies to roll them into bars and profiles. Cipalam has a 20,000 tonnes per year capacity to produce bars and finished profiles, however, the company hasn't been able to reach its full capacity due to lack of raw materials and plans to set up scap based steel making unit</p>
<p>Bnamericas reported that Brazilian development bank BNDES approved BRL 32 million-(USD 6.8 million) loan to local rolled steel producer Cipalam as part of its ESG agenda. BNDES’ Productive & Socio-Environmental Credit Director Mr Bruno Aranha said “BNDES hopes that other companies and creditors will use this experience to create similar mechanisms to encourage measurement, expanding the commitment to economic development, social inclusion and environmental protection.”</p><p>Loan requirement enables monitoring of emissions sources and lets companies control and reduce emissions</p><p>BNDES financing also stipulates that the company presents the ISO 14001 environmental certificates.</p><p>Cipalam benefits from BNDES’ innovation-linked loan concept offers more attractive conditions to companies that improve certain indicators including, encouraging more efficient and sustainable business, respecting environmental, social and governance aspects. One loan requirement involves Cipalam taking stock of greenhouse gas emissions, for which it hired an unnamed consultancy.</p><p>Minas Gerais state-based Brazilian steel company Companhia Ipatinguense de Laminagao buys slabs and billets from third party companies to roll them into bars and profiles. Cipalam has a 20,000 tonnes per year capacity to produce bars and finished profiles, however, the company hasn't been able to reach its full capacity due to lack of raw materials and plans to set up scap based steel making unit</p>
