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Supporting institution


Banco de Desenvolvimento de Minas Gerais

Information presented in this profile is for reference only. The Initiative, its Supporting Institutions and the Secretariat do not endorse the activities, tools or reports included in this profile.


Overview of climate mainstreaming approach and goals:

As a landmark in BDMG’s sustainability practices, the Social and Environmental Responsibility Policy (PRSA) was created in 2013 to promote strategies to incorporate sustainability analyses into the financial market. In 2020, PRSA was updated to incorporate the guidelines of the UN 2030 Agenda, the Global Compact, and the Paris Agreement.

BDMG has been building partnerships with multilateral institutions focused on SDGs. A good example of this is the partnership with the European Investment Bank (EIB). A €100 million contract was signed in 2019 to support climate action projects. To date, BRL 324 million has been disbursed, supporting 20 green projects. In partnership with the Inter-American Development Bank, we developed a CO2 Calculator.

In March 2020, we became a signatory to the UN Global Compact and, in December 2020, BDMG became the first Brazilian public bank to issue Sustainable Bonds. It was listed on the New York Stock Exchange, totaled US$ 50 million, and was subscribed by IDB Invest.

This year, 57% of our total disbursement was allocated to projects aligned with the SDGs. In the environmental categories, R$ 177 million has been disbursed to Renewable Energy and Energy Efficiency projects. More than 42% of the projects are in the North of Minas Gerais, one of the poorest regions in Brazil, with the potential to generate 85.5 GWh/year of solar energy (equivalent to the average annual consumption of 28,508 Brazilian households).

Recently, BDMG has joined the Brazil Green Finance Program in a technical cooperation project covering Carbon Credit, Linked Bonds and Gender Equality. There is also a technical cooperation project with Agence Française de Développement (AFD), in which one of the scopes is to design BDMG’s climate strategy.

BDMG has also joined the Race to Zero Campaign, through the Minas Gerais Government. It is the first state in Latin America and the Caribbean to join the campaign.

Principal Strategic Documents:

Principal Tools and Methodologies: