Nordea Asset Management | In the wake of a disaster | Brumadinho in Brazil | Active Ownership

On January 25 2019, life changed irrevocably for hundreds of families 9 kilometres east of Brumadinho in Brazil when a tailings dam, owned by the Brazilian mining giant Vale, suffered a catastrophic failure. 10 million cubic meters of iron oxide, water and chemicals caused a muddy tsunami that swept through the communities surrounding the dam, burying buildings and people alike and causing the death of nearly 300 people. Many are still missing.

To gain deeper understanding, evaluate the company’s efforts in the wake of the catastrophe and to hear the stories of those affected, Nordea travelled to Brumadinho in May 2019.