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Renova Foundation

The Renova Foundation was founded in 2016 to repair and compensate for the damages caused by the breach of the Fundão Dam, which occurred on November 5, 2015. It was created as a result of a legal commitment called the Transaction Term and Conduct Adjustment (TTAC), which was signed by Samarco, its shareholders, Vale and BHP Billiton, the Federal Union, the States of Minas Gerais and Espírito Santo, and various public authorities at the federal and state levels.

The TTAC established 42 programs aimed at socio-environmental and socio-economic remediation of the affected territories in 40 municipalities along a stretch of approximately 650 km. The Renova Foundation has been implementing remediation programs and respecting the governance system established in the TTAC and the Conduct Adjustment Term (TAC Governance) signed in 2018. Among the TTAC signatories were the Federal Public Prosecution Service, the State Public Prosecution Service Minas Gerais and Espírito Santo, the Public Defender's Office of the Union and the Public Defender's Office of the States of Minas Gerais and Espirito Santo. Its owners are Samarco, BHP Billiton and Vale.

Through the 42 programs designated by the TTAC, the Foundation works to ensure access to information, promote open and constant dialogue with its stakeholders, and encourage social participation and engagement of populations affected by the dam rupture.

Dialogue with affected communities guides Renova's actions as it seeks to remedy and compensate for the damage caused in an efficient and transparent manner. Recovering the water basin, resettling residents and compensating the families who suffered direct losses due to the incident are the Foundation’s priorities.

In its pursuit of excellence, the Renova Foundation has engaged 7,000 people (including its employees and partners) from technical and specialized areas with various areas of knowledge; dozens of social and environmental entities from Brazil that have scientific knowledge, such as the federal universities in Espírito Santo and Minas Gerais; and the international scientific institutions working on the repair process of Mariana (Minas Gerais) at the mouth of the Doce River.

Go to the Renova Foundation website

Impact Management

Impact management actions, implemented through the socio-environmental and socio-economical programs indicated in the TTAC, were divided into two main fronts:

Repair, aimed at reversing or mitigating the impacts caused by the disruption. This includes tailings management, village reconstruction and compensation.

Compensation to society for the general damage caused to people's lives. This includes action such as forest restoration, spring restoration and sanitation for municipalities along the Doce River are some examples.

The efforts for repair and compensation were divided into three thematic axes:

KPI Reports

In 2019 significant progress had been made on the three axes defined in the TTAC:

Performance Evolution

Approximately BRL 7.8 billion have been invested in the 42 programs agreed in the Term of Transaction and Adjustment of Conduct (TTAC), of which BRL 7.3 billion in remedial actions and BRL 0.5 billion in compensatory actions. Only in 2019, BRL 2.6 billion were invested, which represents an increase of around 24% compared to 2018. Within the scope of reparatory actions, since 2015, approximately BRL 2.1 billion in indemnities and financial assistance have already been paid, which represents approximately 320 thousand people attended. In 2019 alone, the amount paid was approximately BRL 858 million, an increase of about 16% compared to 2018. For 2020, the first review of Renova's programs is scheduled, and repair actions are expected to reach BRL 12 billion by the end of 2020.

Vale’s Financial Contribution to the Renova Foundation

(in R$ million)
Vale’s Financial Contribution to the Renova Foundation

Disbursement and Budget

Disbursement and Budget Disbursement and Budget

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