The document should classify activities and projects related to the country’s sustainability agenda
Brasilia – O federal government announced on Monday 25th the creation of the Interinstitutional Committee of Brazilian Sustainable Taxonomy (CITSB)which will have the task of developing and monitoring the implementation of a classification system for activities, assets and projects in line with the Brazilian strategy for sustainability.
The committee will be chaired by Ministry of Finance and will bring together 27 government bodies, including 21 other ministries, as well as the Central Bank, the Securities and Exchange Commission (CVM), Supplementary Pensions (Previc), the Superintendency of Private Insurance (Susep) and the BNDES.
Taxonomy is fundamental to the development of a green economy. It is a system for classifying and identifying sustainable economic activities that contribute the most to the environment. This is important, for example, for financial institutions and investors to evaluate whether a company is, indeed, green or not.
Last year, the Treasury submitted the topic of the Brazilian sustainable taxonomy to a public consultation, which received more than 600 contributions. “The creation of the committee marks another stage in this process of national alignment, guiding the national agenda of sustainable finance”, underlines the Ministry in a statement.
According to the Treasury, the committee intends to build a common methodology to assess the social, environmental and climate impacts of economic activities and propose ways to monitor, verify and report them, looking for ways to advance the scope of materiality. According to the decree establishing the committee, the ordinary meetings will take place every two months.
“In this way, by looking at the feasibility of measures, the building of technical capacity in regulatory bodies and the commitment of stakeholders, the committee will promote the alignment of finances with the long-term goals of sustainable development: achieving environmental and climate justice with the increase in income and the reduction of inequalities”.
The Ministry also underlines that to address the climate crisis, shared solutions aligned with sustainability are needed, in order to reconcile economic, social, environmental and climate objectives. Furthermore, the Ministry of the Treasury underlines as fundamental the coordination between the different actors: governments, businesses, civil society organizations, citizens.
Source: Terra
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