The Brazil Securities Commission (CVM) published an overview of its sustainable finance and financial education work, positioning sustainability as a strategic priority alongside its core regulatory and supervisory mandate during COP30 (10–21 November, Belém). The update reiterates that sustainability features in the CVM Regulatory Agenda 2025, including a planned interpretative guidance on sustainable finance and ongoing monitoring of discussions on the Brazilian Sustainable Taxonomy. The release highlights how recent capital markets rulemaking has incorporated sustainability-related requirements, including disclosure on persons with disabilities in listed issuers’ reference filings (CVM Resolution 198), anti-greenwashing-related developments in the investment funds framework (CVM Resolution 175), and the adoption of International Sustainability Standards Board (ISSB) sustainability-related financial disclosure standards (CVM Resolution 193). It also points to thematic fund regimes for recycling projects (ProRecicle, CVM Resolution 206) and agribusiness supply chains (FIAGRO, CVM Resolution 214), and notes mandatory application for listed companies of CBPS Technical Pronouncements No. 01 and No. 02 (CVM Resolutions 217 and 218). Beyond rulemaking, the CVM cites its Sustainable Finance Policy and action plan (with an execution report indicating more than 80% of 2023–2024 targets fully delivered), a 2025–2026 action plan already underway, ESG-in-suitability guidance issued in 2023 by supervisory departments, investor-facing educational materials under the “CVM Sustainable” series, and 2025 surveys on sustainability reporting and ESG information disclosure. The CVM also references its international engagement, including hosting an IOSCO-developed sustainability workshop in 2024 and participation in multiple sustainability-focused events in 2025, as well as external recognition such as the 2024 ISAR Honours award and Brazil’s inclusion in an IFRS Foundation report profiling jurisdictions adopting ISSB standards.
Brazil Securities Commission (CVM) 2025-11-10
Brazil Securities Commission outlines sustainable finance regulatory agenda and initiatives during COP30
The Brazil Securities Commission (CVM) emphasized sustainability as a strategic priority during COP30, highlighting its inclusion in the CVM Regulatory Agenda 2025. Recent rulemaking incorporates sustainability-related requirements, such as anti-greenwashing measures and ISSB standards adoption. The CVM also detailed its Sustainable Finance Policy, international engagements, and educational initiatives, noting progress on 2023–2024 targets.