Recommendations
1. PREVIC should recommend a revision to Resolution 3.792 which governs investment practices and disclosures by closed pension schemes.
2. The Central Bank to oversee and monitor the impact of Resolution 4.327.
3. Industry associations and accreditation agencies to collaborate on raising ESG awareness and practical training provision.
4. CVM should review the effectiveness of reporting of material ESG factors by Brazilian corporations.
5. CVM should adopt the AMEC stewardship code.
6. Regulatory and industry associations to provide guidance for asset managers and private pension providers on the scope and content of their fiduciary duties.
2. The Central Bank to oversee and monitor the impact of Resolution 4.327.
3. Industry associations and accreditation agencies to collaborate on raising ESG awareness and practical training provision.
4. CVM should review the effectiveness of reporting of material ESG factors by Brazilian corporations.
5. CVM should adopt the AMEC stewardship code.
6. Regulatory and industry associations to provide guidance for asset managers and private pension providers on the scope and content of their fiduciary duties.
Revision of Resolution 3.792
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The project team to convene a group of Brazilian signatories to engage PREVIC on strengthened clarify, oversight, with ESG factors being a component of Investment Policy Statements.
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Starting in June 2017.
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Regulatory adoption of the AMEC stewardship code
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The project team to convene a group of Brazilian signatories to engage CVM on adopting the code.
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Starting June 2017.
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