On Nov. 18, BRZ Anbima seeks input re sustainable securities offering
BRZ Anbima informed on a hearing on the Public Offering Code, which will include structuring public offerings of fixed-income securities with sustainable criteria.
The goal is to establish standards for real advancement of the ESG agenda in Brazil.
Highlights
This initiative is part of BRZ Anbima's in Action Market Development agenda for 2024.
The text in question proposes a disclaimer, which may be used in offering materials, to facilitate identification that the title follows the established rules and procedures.
More specifically, the text would say This public offering was structured following the Rules and Procedures for Sustainable Securities Offerings established by ANBIMA.
The institution that wants to use it must follow a series of criteria that were already included in BRZ Anbima'sGuide to Sustainable Securities Offerings launched in 2022.
One criteria will be the standard of content in the documents relating to the offer.
The content must include a detailed description of the projects that will be financed by the securities, general characteristics of offer and data on risk, remuneration factors.
The operation must also include a second opinion (PSO) issued by independent entity.
The PSO must assess whether the offer is aligned with the sustainability criteria.
On of the recommendations is that institutions periodically report the use of resources at least once a year in a document specifically designed for sustainable bonds.
Consultation
Comments will be accepted until Dec. 18, 2024; new rules expected Feb. 2025.
