ESG Maturity Advances Across the Market

Sustainability remains a highly relevant issue for Brazil’s financial and capital markets. According to the latest edition of A Landscape of Sustainability in the Brazilian Capital Market, 80% of financial institutions rated the topic above 7 in importance, while 63% said it has become more relevant over the past 12 months.

The survey, conducted by Anbima in partnership with Datafolha, also points to a more mature understanding of ESG. Institutions in the emerging and engaged stages now account for 39% of the market, up 10 percentage points from 2021. The findings also show that banks and firms with larger assets under management tend to lead in ESG maturity, reflecting more structured practices and deeper integration of sustainability into strategy and decision-making.

Among asset managers, ESG adoption continues to advance. More than half already have formal responsible investment policies, 78% consider ESG factors in investment decisions, and nearly four in 10 have excluded assets because of weak ESG performance. Looking ahead, the outlook remains positive: 33% of institutions plan to structure or manage sustainable funds over the next 12 months, while 26% intend to invest in or structure labeled or thematic bonds.

These findings will help guide priorities under Anbima in Action 2026, especially in supporting the market’s continued development and strengthening sustainability practices across the industry.