“Brazilian Monetary Authority Approves New ESG Requirements in the Investment Rules of Occupational Pension Funds” – UN Environment Program Finance Initiative – July 10, 2018

On July 10, 2018 UN Environment Program Finance Initiative (UNEP FI) reported that on “May 25, 2018, the Brazilian National Monetary Council (CMN) published Resolution CMN 4.661/2018, which revised the norm that governs occupational pension funds’ investments. The new norm requires pension funds’ asset managers to consider environment, social and governance (ESG) risks as part of their investment decision making process.

This regulatory improvement was one of the recommendations identified in UNEP FI’s Fiduciary Duty in the 21st Century report, published in 2015 and its Brazil Roadmap, published in 2016.”

You may read the press release on the UNEP FI internet site.