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Eve Air Mobility Receives ESG Financing Guarantee from Bradesco Bank

Our Bureau - : Dec 23, 2023 - : 6:17 am

Bradesco Bank has concluded with Eve Mobilidade Aérea Urbana, a subsidiary of Eve Air Mobility, the first ESG financing guarantee operation aligned with the Green Loans Principles (2023 version), which follows a set of guidelines for structuring loan operations for sustainable purposes.

Eve is developing solutions for the global Urban Air Mobility (UAM) ecosystem, including an electric vertical take-off and landing (eVTOL) aircraft. The total amount guaranteed is up to R$490 million and will be allocated exclusively to the development of Eve’s eVTOL.

The line of credit was approved by Brazil’s National Development Bank (BNDES) from the Finem Line and the Climate Fund, whose objective is to support the implementation of projects and technological development related to the reduction of greenhouse gas emissions and adaptation to climate change and its effects.

“This is a disruptive innovation project, with high technological intensity, which seeks to address relevant problems for the whole world: the limitations of ground space with increasing population density, the high costs of mobility infrastructure and the emission of greenhouse gases,” said José Luis Gordon, director of Productive Development, Innovation and Foreign Trade of BNDES. BNDES’ support, through the Climate Fund, is in line with the innovation and decarbonization guidelines of the new industrial policies and is another important step in the long-standing partnership between BNDES and Embraer.”

“It is an innovative operation and represents an important milestone in the sector, demonstrating our commitment to the decarbonisation agenda, investing in more sustainable technologies with lower emissions,” commented Bruno Boetger, executive director at Bradesco. “This reinforces Bradesco’s partnership with Eve, which has been our partner since 2022.”

“At the recent COP28 in Dubai, global leaders discussed strategic actions to accelerate the reduction of global emissions by 2030. Eve’s ESG financing guarantee directly reflects our commitment to sustainability, which is intrinsically linked to our corporate strategy. Our goal goes beyond offering greener solutions for urban air mobility; we are focused on building a value chain aligned with the best-in-market practices,” said Eduardo Couto, chief financial officer of Eve.

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