The Brazil Securities Commission (CVM) published a technical note consolidating the main results of a market-wide survey on sustainability-related reporting under CVM Resolution 193, focused on the adoption of CBPS 01 (IFRS S1) and CBPS 02 (IFRS S2). The survey is intended to identify perceived benefits, implementation challenges, levels of knowledge and support needs to inform the regulatory transition to mandatory reporting from the 2026 fiscal year. The questionnaires were open from 2 to 25 April and generated 291 responses, including 159 listed companies, as well as specialised consultancies, investors and the wider public, and independent auditors, with results segmented by respondent type. Among listed companies, expected benefits most frequently cited were greater transparency (70%), improved management of climate risks (67%), stronger governance (52%) and improved identification of opportunities (50%). CVM also benchmarked 12 jurisdictions that have adopted or are adopting IFRS S1 and S2, assessing whether phased adoption is a global trend, the parameters commonly used and how assurance is being handled, based on official information available up to June 2025. CVM indicated that its technical areas and board will assess the findings to determine any follow-up, either through further regulatory action or market guidance. In the voluntary adoption phase, CVM Resolution 227 amended Resolution 193 to allow listed companies intending to voluntarily publish a sustainability-related financial information report for a financial year starting on or after 1 January 2025 to submit the related market notice by 31 December 2025.

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