Aperam SA (Aperam) manufactures and recycles stainless, electrical, and specialty steel, with industrial operations in France, Belgium, and Brazil. Its Brazilian subsidiary, Aperam BioEnergia, produces and supplies charcoal for use in the company’s blast furnaces for pig iron production.

The IFC-supported project involves the acquisition of approximately 42,600 hectares of land, including 29,600 hectares already acquired and 13,000 hectares planned for acquisition. The project also includes expanding charcoal production capacity at existing facilities, improving kiln efficiency and gas burner systems, establishing a bio-oil business line using by-products from charcoal production, and increasing seedling nursery capacity to meet demand from other forestry companies.

In June 2026, CAO received a complaint submitted by civil society organizations and community members in the project area. The complaint cited environmental and social concerns related to Aperam BioEnergia’s operations, specifically, inadequate community consultation and information disclosure, alleged forced land acquisition and intimidation, air pollution, soil and water contamination, water scarcity, and impacts on biodiversity, community health, safety, livelihoods, and food security. The complainants also raised concerns about IFC’s due diligence, particularly its consideration of communities’ historical relationships with land in the project area. The complaint was submitted with support from Instituto Maíra (Brazil), COQUIVALE, and the Bank Information Center (BIC).

In July 2026, CAO found the complaint eligible and initiated an assessment.