ESG in Brazil: 2022 regulatory scenario and expectations for 2023

The ESG (Environmental, Social and Governance) movement gained importance in Brazil during 2022, catching the eye of key regulatory bodies and resulting in more in-depth discussions. Both locally and internationally, there was an effort to increasingly integrate private sector strategies, reports, and activities with ESG criteria – in some sectors, regulatory bodies even began to require specific parameters for company compliance, reporting and engagement with the matter.

This trend is expected to continue in 2023, especially in light of statements from Brazil’s new administration regarding the protection of human rights and the environment. Internationally, significant progress has also been noted in terms of human rights, due diligence requirements and supply chain monitoring.

Amid this scenario, Mattos Filho’s ESG practice has prepared a publication compiling the main highlights of the current regulatory scenario for the sector, as well as guidelines from sectoral entities in the Brazilian market with the best ESG practices. The document also outlines expectations and trends for this year concerning new legislation, ESG litigation cases, ESG performance reporting requirements, as well as efforts to ensure more consistent data to assist in combating greenwashing, improving ESG governance, public hearings and the intersection between human rights and the environment.

Please click here to view the publication in full. For further information, please contact Mattos Filho’s ESG practice area.