Eve Mobilidade Aerea Urbana, a subsidiary of Eve Air Mobility and a spinoff from Embraer, has concluded its first ESG financing guarantee operation with Bradesco Bank, which is aligned with the Green Loan Principles set out in 2023. The principles follow a set of guidelines for structuring loan operations for sustainability purposes. The funding agreement guarantees R$490 million (over $100 million) and will be allocated exclusively to the development of Eve’s electric vertical take off and landing aircraft (eVTOL).
The line of credit was approved by Brazil’s National Development Bank (BNDES) from the finem line and the climate fund, which supports projects related to the reduction of greenhouse gas emissions and climate change adaptation. Bradesco will allocate the new proceeds gradually.
BNDES director of productive development, innovation and foreign trades Jose Luis Gordon said: “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.”
“We believe that the ESG financing guarantee will serve as a reference for other companies that wish to adopt more responsible and sustainable practices in their business, an increasing trend in the credit market,” said Bradesco executive director Bruno Boetger.
Eve CFO Eduardo Couto said: “Eve’s ESG financing guarantee directly reflects our commitment to sustainability, which is intrinsically linked to our corporate strategy.”