The provision present in Resolution 59 of the Securities and Exchange Commission opens spaces for the debate on greenwashing
Listed companies are required to inform and justify if they do not adopt ESG metrics – an acronym for Environmental, Social and Governance – and indicate where these indices can be found online. It is one of the determinations present in Resolution 59, published in January 2023 by the Securities and Exchange Commission (CVM).
According to the CVM, guidelines such as climate change control, environmental protection and a sustainable agenda are no longer just the subject of debate by environmentalists, but have been extended to different sectors.
In consideration of this, the autonomous body reiterates that, with resolution 59, it is possible to have access to a reference information sheet on the socio-environmental measures adopted by the issuers. In addition, the report takes into consideration the Sustainable Development Goals (SDGs).
In Brazil, an overview from the Central Bank shows that, in 2020 and 2021, $20 billion in bonds linked to sustainability projects or environmental and social governance objectives were launched. These data also reveal that Brazil accounts for more than 1% of sustainable bond issuance in the world. In Latin America, the country ranks second, behind Chile.
In turn, the founder and principal executive of the Latin American Quality Institute (LAQI), Daniel Maximilian Da Costa, draws attention to the fact that companies can justify the non-adoption of ESG practices and the possible cases of greenwashing, false good practices in the environmental field.
“Such a possibility should attract attention, as much information could be interpreted and incorporated as part of ESG actions. An example is citing departments that have no connection to such practices. Furthermore, it is necessary to analyze whether such a view does not constitute an alibi to failure to adopt these initiatives, which represent the very sustainability of the company”, he concludes.
Website: http://www.qualitymagazine.org
Source: Terra
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