What are the obligations of the Renova Foundation?

Our mission is to rebuild, restore and repair all damage caused by the collapse of the Fundão dam on November 5, 2015, whilst fostering social, economic and environmental development of the impacted regions. Our obligations are set out in the commitment signed by the government and the companies Samarco, Vale and BHP on March 2, 2016, the Conduct Adjustment Declaration (TTAC). Renova Foundation was created some months later, on June 30, 2016, and came into operation on August 2, 2016. Since then it has undertaken the oversight and monitoring of the 42 programs established in the TTAc, each with its own theme. The Conduct Adjustment Declaration outlines 41 remediation and compensation programs. However, as work progressed, the decision was made to divide one of the programs into two to ensure a more focused and efficient management approach.

As a result, we are now working across 42 programs under the responsibility of Renova Foundation, as detailed throughout this report.

Does Renova Foundation belong to Samarco?

No. Renova Foundation is an organization with a social purpose, namely to recover the impacts caused by the collapse of the Fundão dam.

Samarco and its shareholders Vale and BHP entered into a commitment with the federal government and state governments of Minas Gerais and Espírito Santo in which it agreed to pay for the entire cost of the recovery.
The Foundation was created to implement the rebuilding, restoration and repair programs, using the funds provided by financial donations made by the companies every year, as determined in the public deed of incorporation and the TTAc and to deliver all the remediation and compensation projects. The companies are therefore sponsors of the Foundation. Renova Foundation therefore has no relationship to the dam collapse nor does it represent the companies (Samarco, vale and BHP Billiton). See chapter Financial data on page 48 pointing to financial donations

How are people from the affected communiities heard and how do they participate in decisions?

In several ways: all recovery programs start by defining what needs to be done and all those involved are consulted,: the community, local NGOs, experts, regulatory agencies and other stakeholders. This process is still in its early days, and we seek to enhance it through daily practices. We have a principal: a solution will only be effective and improve living standards in the region if it is implemented in conjunction with the people. We have a principal: a solution will only be effective and improve living standards in the region if it is implemented in conjunction with the people.