Jurisdiction(s):
United Kingdom

Brazil ESG for lawyers: enforcement and licensing, ISSB-aligned CVM reporting, SBCE carbon market, supply chain and green claims exposure, consumer law scrutiny and collective litigation

Published by a LexisNexis Environment expert

Practice notes

Executive narrative

Brazil’s environmental, social and governance (ESG) framework is best seen as a layered federal–state–municipal enforcement system, with significant real‑economy effects and unusually robust public enforcement and collective litigation routes. In practice, ESG risk commonly materialises through:

environmental permitting, embargoes, fines and remediation duties handled by federal and state environmental bodies within the National Environmental System (SISNAMA)
public civil actions (ação civil pública) and prosecutor‑led settlements that can advance more quickly than regulatory procedures
capital markets disclosure oversight by the Brazilian Securities Commission (CVM), now expressly linked to International Sustainability Standards Board (ISSB)/International Financial Reporting Standards (IFRS) sustainability standards
consumer and advertising scrutiny of sustainability claims under the Consumer Defence Code, regulators, and Consumer Protection and Defence Offices (PROCONs)
advertising self‑regulation under the supervision of the National Council for Advertising Self‑Regulation (CONAR)

Corporate reporting

The most notable recent structural change for corporate reporting is CVM Resolution No. 193 (20 October 2023), which governs the preparation and disclosure of sustainability‑related financial information in line with ISSB standards. This is not limited to ESG narrative: it is a disclosure‑control framework drawing boards, audit committees, CFO functions and external assurance discussions into sustainability reporting...

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Adriana Moura Mattos da Silva

Mattos Filho

Adriana is a senior lawyer of ESG, Human Rights & Business and Environmental & Climate Change practice areas. She has several years of legal experience with sustainability and socio-environmental matters, focusing on a wide range of subjects, including ESG strategy, corporate governance and sector-specific national/international ESG regulations, Private Social Investment and Corporate Social Responsibility, Business and Human Rights, community engagement, indigenous peoples, quilombola and traditional communities, diversity, equity and inclusion, environmental regulation, forestry regulation, supply chain management, socio-environmental crisis management. She supports clients in legal matters related to all ESG regulation and integration aspects, supporting their decision making, representing national and international clients in M&As and IPOs, project finance and capital markets, advising asset managers and funds on their investment policies, ESG screening procedures, and decision-making criteria, advising financial institutions and insurance companies on the incorporation of ESG criteria on their activities and...

Juliana Gomes Ramalho Monteiro

Mattos Filho

Juliana has been working in the field of social impact for 20 years, focusing on associations and foundations. Since 2008, she has also been advising companies in the area of human rights and business. Her work includes the development of human rights policies, contractual mechanisms appropriate for the prevention and handling of human rights violations, conducting human rights due diligence, as well as training and consulting related to consultations with affected communities, especially traditional communities. She also coordinates Mattos Filho’s ESG (Environmental, Social and Governance) team – a pioneer in the Brazilian legal market – with a particular focus on socioevironmental and governance matters, specially human rights and business issues. Juliana is a member of the Global Compact’s Corporate Governance Committee and coordinates the Human Rights Working Group at the Global Compact, the Brazilian Association of Publicly-Held Companies’ (Abrasca) ESG Committee and the...

Web page updated on 24/05/2026

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