Sustainability reporting for public companies: now a strategic decision
CVM 244 changed the rule in May 2026. IFRS S1 and S2 reporting is no longer mandatory, but companies that do not publish have to justify that publicly. Public companies that choose to publish signal mature governance to the market, to investors and to rating agencies.
CVM 244
IFRS S2
B3 ISE / IGCT
CDP
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CVM 244
Published on May 29, 2026, Resolution CVM 244 amends CVM 193. IFRS S1 and S2 reporting becomes voluntary from January 1, 2027. Companies that do not publish have to communicate the decision to the market, a model known as 'comply or explain'. Those that choose to publish keep the commitment for at least 3 years.
The standard itself has not changed: it requires structured governance, analysis of climate risks and opportunities, GHG emissions metrics and transition targets. Companies that decide to publish start with the inventory and with climate risk management.
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IFRS S2
IFRS S2 organizes climate disclosure into four pillars: Governance, Strategy, Risk management, and Metrics & targets. It requires climate scenario analysis, identification of physical and transition risks, and science-based targets.
Mangue Tech implements each pillar: it sets up the ESG committee, runs the climate risk analysis (TCFD-aligned), calculates the emissions metrics (Scope 1, 2 and 3) and defines Science-Based targets where applicable.
The international ISSB standard, recommended as best practice even after CVM 244.
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B3 ISE / IGCT
The Corporate Sustainability Index (ISE B3) and the Corporate Governance and Trade Index (IGCT) are references for investors looking for companies with solid ESG practices. Taking part in these indices is voluntary, but increasingly relevant for access to capital and for reputation.
The ISE questionnaire assesses governance, environment, climate change, human capital and business model. Mangue Tech prepares the company to answer with auditable data, aligned with the GHG inventory and with IFRS S1/S2 reporting.
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CDP
CDP (Carbon Disclosure Project) is the main global platform for environmental disclosure. Investors holding US$ 136 trillion in assets ask companies to answer the CDP questionnaire. The score awarded (A to D-) has a direct impact on investment decisions.
Mangue Tech structures the response to CDP Climate Change, integrating GHG inventory data, risk analysis and targets. Companies that already report under IFRS S1/S2 reuse the same data for CDP.
The answer
How Mangue solves it.
Informed decision: we assess whether publishing IFRS S1/S2 strengthens your access to capital, and we structure the justification to the market if you choose not to publish now.
Complete GHG inventory (Scope 1, 2 and 3) as the data foundation for every report.
Climate risk and opportunity analysis aligned with TCFD/IFRS S2, with transition and physical scenarios.
ESG committee structured with roles, responsibilities and a governance calendar.
IFRS S1/S2 report prepared (CVM 244 standard), ready for external assurance.
Response to the CDP Climate Change questionnaire with data integrated with the inventory.
Next steps
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