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9 Sep 2014

BNDES (Brazil)

BNDES response to Conectas' report

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The issues raised in the study carried out by Conectas have become matters of discussion in forums for dialogue with entities of society in which the BNDES actively takes part. Conectas is also a participant in these forums. The Bank, within its legal limits and the scope of its efforts, has also adopted measures to combat and prevent possible violations. Since February 2008, the BNDES’ finance contracts have included what is known as the Social Clause, which explicitly combats not only against discrimination of race and gender, but also against child and slave labor in Brazil. Abiding by the social clauses was already a pre-condition to receiving financing from the Bank. However, since then, vetoing acts of discrimination is now explicitly a part of the BNDES’ contracts. Proven infringement of such clauses may result in suspension or advanced termination of a contract...