Company name

Movida Participações S.A.

Project number

13553-01

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
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B

Country

Brazil

Sector

Manufacturing

Status

Proposed

Disclosed date

08/18/2021

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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11/05/2021

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Parodi, Juan

Investment type

Financing requested

N/A

Syndicated amount

USD $ 180,000,000

Financing amount

USD $ 20,000,000

Currency

USD

Project scope and objective

Movida Participações S.A. (“Movida”, the “Company” or the “Client”) is one of the largest car rental companies in Brazil. Founded in 2006 and headquartered in São Paulo, the Company is part of the Simpar Group (“SIMPAR” or “the Group”) that consolidates the activities of six companies in the logistics sector in Brazil. Movida operates under two major business units: (i) Rent a car ("RAC"); and (ii) Third Party Fleet Management ("GTF"). Movida is present in all Brazilian states, has 264 operational branches and operates a total fleet of +158,000 cars.

 

The proposed operation aims at supporting Movida in its continuous efforts to reduce Greenhouse Gas (“GHG”) emissions in its operations. Transaction objectives include: (i) increase the number of electric cars in its RAC and GTF fleet, (ii) increase the number of hybrid and flex-fuel cars in its RAC and GTF fleet, (iii) innovation projects to optimize its operational process and integrating systems through the inclusion of technologies and programs to reduce the overall carbon footprint of its operations; and (iv) support investments in solar panel energy generation at its operational branches.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

MOVIDA ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

337.9 Kb

MOVIDA - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

972.8 Kb

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Contact information

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Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Edmar Prado Lopes Neto

POSITION

Chief Financial Officer

PHONE NUMBER

+5511972731301

EMAIL

edmarneto@movida.com.br

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices