Ganesha Gold

Ganesha Gold


Published in: 04/09/2021

Renova Foundation

The Renova Foundation disagrees with the allegations related to the institution’s accounts, made by the Prosecution Service of Minas Gerais, and will present its reasons after receiving the summons. 

In addition to the annual accounts, the Foundation also sends to the Prosecution Service of Minas Gerais the respective approvals of its accounts made by the Board of Governors, the Supervisory Board, and the independent company responsible for auditing the financial statements, as provided for in TTAC Clause 53.

The Renova Foundation’s accounts are also verified by independent external audits, which guarantee transparency in the monitoring and supervision of the investments made and the results achieved. The Foundation’s accounts were approved by these audits.

Regarding the questioning of the Prosecution Service related to Renova’s surplus in 2019, it is essential to clarify that it is recommended that third sector institutions work with a surplus, an indicator that the work is being carried out in a qualified and technical manner. In the Renova Foundation case, the amount related to the surplus is reapplied in the following year’s repair actions.

Regarding the questioning of the amounts allocated to paid advertising (advertisements and sponsored actions in the media), Renova points out that the investment comes from the Renova Foundation’s administrative resources, which are not those intended for the repair and compensation programs. Communication actions are funded by administrative resources provided in the TTAC for this purpose.

The use of paid advertising (advertisements and sponsored actions in digital, electronic, and printed media) is intended to inform the affected people, affected societies, and broad segments of Brazilian society about the platform with repair data, expanding the access to information about the actions carried out by the Renova Foundation.

Regarding its executives’ remuneration, the Renova Foundation clarifies that it adopts a market policy with values compatible with the agreed responsibilities. It is essential to clarify that the amounts contributed by the maintainers to fund the Foundation (salaries and administrative costs) do not compromise and are not accounted for in the amounts destined to repair and compensate the damages caused by the Fundao dam collapse.

It is worth mentioning that the Renova Foundation is responsible for the mobilization for the repair of the damages caused by the Fundao dam collapse. Its scope encompasses 42 programs that unfold in the projects that are being implemented in the 670 kilometers of the impacted area along the Doce River and tributaries and in long-term actions, involving around 6 thousand people, including direct employees and partners. About R$ 11.8 billion have been disbursed by the Renova Foundation so far, having paid R$ 3.26 billion in indemnities and financial aid to 320 thousand people until January this year.

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