Ministry of Finance announced members of the Advisory Committee of Interinstitutional Committee on Brazilian Sustainable Taxonomy (CITSB)
The Brazilian Business Council for Sustainable Development (CEBDS) was announced, on June 8 (Saturday), as a member of the Advisory Committee of the Interinstitutional Committee of the Brazilian Sustainable Taxonomy (CC-CITSB).
Presided over by the Ministry of Finance, the CITSB is responsible for developing and monitoring the implementation of a system for classifying activities, assets and projects aligned with the Brazilian strategy for sustainability.
The sustainable taxonomy will enable investment in practices aligned with the low-carbon economy. The term, originating from biology, refers to the science of describing, identifying and naming living beings. Recently, the concept has been adopted in economics, especially in the environmental, social and governance (ESG) context.
The Advisory Committee will have the role of contributing to different sectors of society participating in the discussions. As the voice of the business sector for sustainable development, CEBDS will be able to take a transversal look at the initiative, based on discussions with associated companies, from different sectors of the Brazilian economy. Furthermore, CEBDS will be able to offer technical support, cooperating so that the Brazilian taxonomy is aligned with best international practices.
“We are excited to be part of the Advisory Committee, and contribute to the construction of a robust regulatory framework adapted to the demands of Brazil. The Brazilian Sustainable Taxonomy is a vital tool for directing investments towards sustainable activities, providing legal certainty, competitiveness and mitigating macroeconomic risks. This is a fundamental step towards our transition to a low-carbon economy with social justice”, says Marina Grossi, president of CEBDS.
The Sustainable Taxonomy is one of the themes of the federal government's Ecological Transformation Plan, within the sustainable finance axis. This debate is led by the Ministry of Finance, with the participation of the Central Bank, the Securities and Exchange Commission (CVM) and the Private Insurance Superintendency (Susep), among other organizations. In July last year, CEBDS delivered to the Minister of Finance, Fernando Haddad, a document with recommendations on the six axes, highlighting the importance of the taxonomy to mobilize public and private resources at scale for activities linked to ecological transformation in Brazil.
For more information, click to view the Decree 11,961 March 22, 2024 and the Brazilian Sustainable Taxonomy website.
