Open for Public Consultation: 2nd Edition of the Brazilian Sustainable Taxonomy

In brief

The Ministry of Finance has opened a public consultation on the 2nd edition of the Brazilian Sustainable Taxonomy (TSB), a technical tool designed to classify economic activities and investments based on climate, environmental, and socioeconomic criteria.

The new proposal broadens the scope of the TSB by including four new objectives and expanding the range of rural activity chains covered. The consultation will be conducted in two phases, with deadlines for submissions on November 20, 2026 (Phase 1) and December 4, 2026 (Phase 2). Companies, financial institutions, and other interested parties should review the documents applicable to their activities and assess whether to submit comments via the Brasil Participativo platform (Public Consultation on the Second Edition of the TSB – Brasil Participativo).

In more detail

Among the main changes proposed for the second edition of the TSB, the inclusion of four new objectives stands out. Objectives 3 and 4, developed jointly, cover biodiversity, ecosystem services, and the sustainable use of land and forests. Goal 6 is dedicated to the circular economy, while Economic and Social Goal 1 addresses the reduction of regional and territorial inequalities. The proposal also expands the range of rural activity chains covered in the TSB workbooks.

The public consultation is organized into two stages:

• Stage 1 (October 16, 2026, to November 20, 2026): consultation on the proposals contained in the eight sector-specific technical documents and the thematic document related to the economic and social goal; and
• Stage 2 (November 9, 2026, to December 4, 2026): consultation on proposals for conformity assessment schemes applicable to debt securities and financing, as well as on the approach to forestry value chains covered in the CNAE A technical document, which encompasses agriculture, livestock, forestry production, fishing, and aquaculture.

Contributions must be submitted via the Brasil Participativo platform, in accordance with the guidelines and documents made available for each stage. The contributions received will be analyzed within the framework of the TSB’s governance and will inform the revision of the proposals. Information on subsequent procedures will be disclosed in due course.