Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 99

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 99
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 and environmental licensing for forestry has been simplified in Minas Gerais. Furthermore, federal decrees have set guidelines for the national circular economy strategy and regulated tax incentives for the recycling production chain. In São Paulo, a state decree has established a program to manage solid urban waste. S pecific impacts are yet to be regulated. The state of Minas Gerais (where the Serra Azul Dam is located) published State Decree No. 48.848/2024, which included new types of guarantees, such as mortgages and fiduciary alienation of real estate. The validity of bank guarantees has been extended to a minimum of five years, with financial institutions required to deposit the guaranteed credit within 15 days if the debtor fails to renew the bond. Additionally, the insurance policy must be issued by a Susep-authorized insurance company, with the credit settlement period extended to 30 days after notification. The deadline for presenting environmental bonds for dams has been increased from 180 to 270 days. Furthermore, the real estate offered as a guarantee can be re-evaluated at any time and must be supplemented if its value is lower than declared. These changes aim to enhance security and flexibility in managing environmental guarantees. In 2022, Brazil launched Resolution No. 433/2021 establishing the National Policy of the Judiciary for the Environment, establishing the monitoring of climate actions and mandating that indemnities for environmental damages include the impact on global climate change, as well as diffuse damage to affected peoples and communities. In September 2023, the Plenary of the Brazilian National Council of Justice approved a Normative Act recommending the adoption of a new protocol for the trial of environmental damage actions by Brazilian courts. This aims to enhance the effectiveness of judgments in environmental cases, providing guidelines on the use of evidence obtained by sensors and satellites. The focus is on preventing and combating environmental externalities, particularly concerning climate change and collective damage. Brazil has established the Interministerial Committee on Climate Change (“CIM”) through Decree No. 11.550/2023, published in June 2023, which monitors the implementation of actions and public policies within the federal executive branch related to the National Policy on Climate Change (“PNMC”). The decree revoked the former National System for the Reduction of Emissions of Greenhouse Gases (“SINARE”), previously established by Decree No. 11.075/2022. Law No. 15.042/2024, which regulates the carbon market in Brazil creating the Brazilian Green