First ESG-linked BNDES facility in mining signals a milestone in adopting sustainable practices in the sector

Nexa Recursos Minerais S.A., a Brazilian company that is part of Nexa Resources S.A., one of the world’s leading zinc producers, has signed a BRL 200 million (approximately USD 40 million) financing agreement with the Brazilian Development Bank (“BNDES”), marking a milestone as the first credit initiative from BNDES tied to ESG criteria in the mining industry. This agreement, part of the “BNDES ESG Credit” program, aims to support the implementation of sustainable practices and is directly linked to the continuous improvement of the Company’s environmental and social indicators.

To underscore its commitment to decarbonization, Nexa is focused on achieving the gold seal of the “Brazilian GHG Protocol Program”, recognizing efforts to mitigate greenhouse gas emissions. Additionally, the company has committed to developing a comprehensive socio-environmental responsibility policy with a focus on education and diversity, and to obtaining a social responsibility certification for its operational unit in Três Marias, Minas Gerais.

The partnership with BNDES reinforces Nexa’s commitment to its ESG strategy, which aims to achieve net zero by 2050, with interim targets of a 20% reduction in its direct emissions (Scope 1) by 2030 (approximately 52 thousand tons of CO2e) and emission neutrality by 2040. This effort is in line with global decarbonization and energy transition objectives, also aligning with Brazil’s New Industrial Policy and the National Climate Change Policy (“PNMC”).

“This BNDES financing not only provides financial boost for our initiatives, but also a recognition of our ongoing efforts to integrate sustainable practices into our business strategy. Since 2022, we have made public our long-term ESG commitments, reinforcing our transparency and determination to drive concrete actions on issues such as emissions reduction, safety, water, and gender equality,” highlights Jose Carlos del Valle, Senior Vice President of Finance and CFO of Nexa.

This funding marks the second time Nexa has secured ESG-linked financing, as in October 2023, the company announced its first financing of this type, a $320 million revolving credit facility (“RCF”) tied to CO2e emissions reduction.


About Nexa

Nexa Resources is one of the world’s leading zinc mining companies. Operating for over 65 years in the mining and metallurgy segments, with locations in Brazil and Peru and offices in Luxembourg and the United States, supplying its products to every continent. Every day, its employees work with a commitment to building the mining that changes with the world, aiming for sustainability, innovation, and upholding the best safety practices, respect for people, and the environment. Since 2017, its shares have been traded on the New York Stock Exchange, with its majority shareholder

being Votorantim S.A. For more information about Nexa and its ESG strategy and commitments, please visit our website.


BNDES is the Brazilian government’s main long-term financing and investment instrument to promote Brazilian social and economic development. BNDES support takes into account the country’s sustainable development through the generation of employment, income and social inclusion. BNDES is renowned for its role in promoting green and social projects, such as being the manager of the Amazon Fund and the world’s top financier of renewable energy. Encouraging innovation and regional development is one of BNDES’s priorities. More information: