Brazil to incorporate IFRS Sustainability Disclosure Standards into Regulatory Framework
20 Oct 2023
The Brazilian Ministry of Finance and the Comissao de Valores Mobiliarios (CVM) have jointly announced that the ISSB’s IFRS Sustainability Disclosure Standards will be integrated into Brazil’s regulatory framework.
This transition will see the ISSB's standards shift from voluntary use, commencing in 2024, to mandatory use starting on January 1, 2026. This decision signifies a major stride toward enhancing transparency in Brazilian capital markets concerning sustainability-related risks and opportunities. The decision coincides with the IFRS Foundation Trustees recent meeting in Panama City, underlining the collaborative efforts of key stakeholders in the region to bolster sustainable and resilient financial sectors.
For more information, see the press release on the IFRS Foundation website.
