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Brazil Will Start Demanding Sustainability Reports from 2026


According to a recent declaration made by Brazil’s Securities and Exchange Commission (CVM) and Ministry of Finance, public corporations in Brazil will be forced to publish annual sustainability and climate-related disclosures beginning in the year 2026. This mandate will take effect immediately.

According to the CVM, the newly implemented requirements for reporting will be based on the recently released sustainability and climate-related disclosure guidelines that were issued by the International Sustainability guidelines Board (ISSB) of the IFRS Foundation. At the COP26 climate conference in November 2021, the International Sustainability Standards Board (ISSB) was established with the objective of developing IFRS Sustainability Disclosure Standards. This objective was motivated by the demand from investors, companies, governments, and regulators for a global baseline of disclosure requirements that would enable a consistent understanding of the effect that sustainability risks and opportunities have on the prospects of companies.

Brazil is the most recent in a string of jurisdictions to announce that it will be adopting the new standards. Australia and the United Kingdom also made similar statements not too long ago. In July, the International Organisation of Securities Commissions (IOSCO), the preeminent international policy forum and standards-setting body for securities regulators, urged authorities to include the criteria in their regulatory frameworks for sustainability reporting.  

The new reporting requirements are a component of Brazil’s Ecological Transformation Plan, which is the country’s strategy that was introduced earlier this year and is aimed at pushing the transition to a green economy. The plan also includes anticipated public and private infrastructure investments totaling 350 billion reais (350 billion dollars).

Who is affected?

According to the CVM, public firms and investment funds will be allowed to begin sustainability reporting in accordance with the IFRS standards in 2024 on a voluntary basis.

Beginning in 2026, however, public enterprises will be required to begin reporting on a mandatory basis.

Starting in the year 2027, companies will be expected to submit their sustainability reports either within three months of the end of the fiscal year or simultaneously with the release of their financial accounts, depending on which comes first.



The CVM stated that the new reporting criteria will assist global investors in evaluating risks and opportunities, lowering information costs, optimising the allocation of capital, and enabling decisions that are consistent with responsible and sustainable values.

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