BRAZIL Law and Practice Contributed by: Thaís Vasconcellos de Sá and Ana Julia Grein Moniz de Aragão, Bermudes Advogados
ing collection, treatment or disposal does not exempt them from liability for improper management. The waste producer has the right to subsequently bring a recourse action ( ação de regresso ) against the actual perpetrator of the damage. Failure to comply may lead to administrative fines, civil liability for environmental damage and, in severe cases, criminal sanctions. 16. Environmental Disclosure and Information 16.1 Disclosure and Reporting Requirements In case of an accident or incident causing harm to the environment, an adequate, immediate and complete reporting with competent authorities is paramount for the maintenance of a credible and collaborative rela- tionship with these stakeholders. Such collaboration will help ensure business continuity with less impacts – including those that might arise from eventual judi- cial measures that might be brought by the public prosecutors following said incident, or administrative measures and sanctions from regulatory authorities. In Brazil, the duty to report environmental incidents generally applies depending on the nature, gravity and potential impact of the event. Several federal and state regulations, including, for example, CONAMA Resolution No 420/2009 (referring to contaminated land) and IBAMA Normative Instruction No 15/2014, may require prompt communication to environmental authorities and, in certain cases, to potentially affect- ed third parties. Water users may also need to report abstraction and discharge to water resources agen- cies under their grants. For higher-risk activities, Law No 12,608/2012 establishes additional duties, such as contingency planning and immediate notification of changes that may affect safety conditions. In these cases, failure to report may result in adminis- trative, civil or criminal liability. Nonetheless, regard- less of the specific legal requirement, timely com- munication and co-operation with regulators are recommended to mitigate risks and potential liabilities.
As for reporting routines, operators must also comply with monitoring and reporting obligations established in their licences, including the submission of environ- mental performance reports, emissions inventories (where applicable), and waste management reports under the PNRS. 16.2 Public Environmental Information The public has a constitutional and statutory right to access environmental information under the Federal Constitution and the Access to Information Law (Law No 12,527/2011). This right applies to information held by federal, state and municipal environmental bodies as well as by private entities performing public functions. Information may be obtained upon request or through open databases, which vary in scope and level of detail depending on the authority. Federal agencies such as IBAMA, ANM, ICMBio and ANA generally maintain more comprehensive public databases. Access may be restricted in cases involving: • national security; • ongoing investigations; or • personal data protection. 16.3 Corporate Disclosure Requirement Listed companies in Brazil have recently been required to disclose environmental and climate-related infor- mation as part of their sustainability reporting. These disclosures must address material environmental and climate risks and opportunities, as well as govern- ance, strategy and risk-management processes rel- evant to sustainability. In January 2023, the Brazilian Securities and Exchange Commission (CVM) adopted its Sustainable Finance Policy, which established a multi-year plan to integrate sustainability considerations into capital markets regulation. One of its key outcomes was Resolution CVM 193/2023, which introduced voluntary sustain- ability reporting based on the ISSB’s IFRS S1 and S2 standards. In October 2024, the CVM issued Resolutions Nos 217, 218 and 219, formally endorsing these standards through the Brazilian Committee for Sustainability Pronouncements (CBPS) and making their adoption
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