BNDES reduces interest rates and changes rules in fuel decarbonization program

The National Bank for Economic and Social Development (BNDES) approved this Thursday the change of rules in its program for decarbonization in the fuel sector, with discounts of up to 0.4% on interest rates for customers who prove improvements in environmental indicators , as communicated.

With a budget of R$ 2 billion, the objective of the measure is to increase the adhesion of companies to the program that stimulates the reduction in emissions, said the bank.

According to the BNDES, there will be a reduction in the initial interest rate, formed by the TLP or by market cost references, a credit risk rate, plus the bank’s basic remuneration, which will go from 1.5% to 1.3% per year. year.

If the customer proves, after the grace period, that he has achieved the carbon emission (CO2) reduction targets defined by the program, the initial interest rate will be reduced by up to 0.4%.

In its new format, the BNDES RenovaBio program stipulates carbon emission reduction targets according to each client’s current stage of “energy-environmental” efficiency.

“For those considered more efficient, the required target will be reduced to 2%. On the other hand, customers that still need to improve their emission standards will have targets raised to 10%. For other companies, the reduction percentage will remain at 5%”, he said in a note.

“The proposed changes seek to recognize that the current emissions standards in the biofuel sector are heterogeneous, making it necessary to think of goals compatible with the reality of each client. Considering only the already approved operations, we have the potential to avoid the emission of 2.2 million tons of carbon annually”, added the director of Productive and Sustainable Credit at the BNDES, Bruno Aranha.

(Reporting by Nayara Figueiredo)