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Sustainability Reporting
October 23, 2023

Starting in 2026, public companies in Brazil will be required to provide annual sustainability and climate-related disclosures, according to an announcement from Brazil’s Securities and Exchange Commission (CVM) and Ministry of Finance. The new reporting requirements will be based on the sustainability and climate-related disclosure standards issued by the IFRS Foundation’s International Sustainability Standards Board (ISSB).

Brazil joins the UK and Australia in adopting these new standards. The ISSB was launched in November 2021 at the COP26 climate conference with the aim of developing IFRS Sustainability Disclosure Standards.

The new reporting requirements form part of Brazil’s Ecological Transformation Plan, which includes $350 billion in planned public and private infrastructure investment. Public companies and investment funds can begin sustainability reporting on a voluntary basis from 2024, with mandatory reporting for public companies starting in 2026. From 2027, sustainability reporting will be required within three months after the end of the fiscal year, or simultaneously with the release of financial statements, whichever occurs first.

The CVM believes that the new reporting requirements will help global investors assess risks and opportunities, reduce information costs, optimize the allocation of capital, and enable decisions aligned with sustainable and responsible values.

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