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Capital Markets Insight: The Brazilian Sustainable Debt Market – A Cross-Border Regulatory Perspective

Sustainable debt issuances by Brazilian companies in both domestic and international markets have steadily increased. Abroad, the combined volume of green, social, and sustainability bonds issued by Brazilian corporates, financial institutions, and the federal government rose from approximately USD 15.5 billion in 2023 to approximately USD 17.6 billion in the first nine months of 2024. Domestically, the aggregate issuance of sustainable debentures has also continued to rise, reaching a record BRL 94.5 billion (approximately USD 19 billion) in green debenture issuances in 2024, exceeding the previous record set in 2021 by more than 30%. Brazil has also recently emerged as a regional leader in the issuance of blue bonds […]