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Resolution on Socio-environmental Responsibility Policy Nº 4.327

Brazil Current 2014

The Brazilian Central Bank established guidelines for financial institutions (and other organizations whose operations are authorized by the BCB) in connection with the creation and implementation of Social and Environmental Responsibility Policies (SERP).

Issuer name

Central Bank of Brazil

More information

Social and Environmental Responsibility Policies (SERPs) should provide governance strategies, particularly regarding the management of any social and environmental risk, which refers to the possibility of losses due to socio-environmental damages. The resolution requires specific criteria for risk assessment only for those activities with a higher potential for causing social and environmental damages (these activities were not specified). it also states that institutions should establish action plans aimed at implementing their SERPs.

Organizations covered by the instrument

All Companies

Target organization notes

Applies to the banks and financial institutions

Industry scope

Financial Services

Industry scope notes

Banks and financial institutions

Disclosure venue

Sustainability report

ESG coverage - E (Environment)

Environmental Compliance & Risk






South America

Date of publication


Issuer type

Financial Market Regulators

Reporting requirements

Public law and regulation

Mandatory or voluntary


The geographical scope


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