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2.16. The Central Bank of Brazil (BCB) is fully committed to the sustainability agenda and has implemented regulation over the last few years to that end. In 2020, the BCB announced the inclusion of a sustainability dimension in its institutional agenda, with concrete initiatives in five pillars, including regulation and supervision. Among the new regulations already issued are:
• National Monetary Council (CMN) Resolution No. 4,943/2021, altering Resolution No. 4,557/2017 to include a specific section on the management of social, environmental and climate risks applicable to financial institutions allocated in segments 1-4;
• CMN Resolution No. 4,944/2021, altering Resolution No. 4,606/2017 to include a specific section on the management of social, environmental and climatic risks applicable to financial institutions allocated to segment 5;
• CMN Resolution No. 4,945/2021, revoking Resolution No. 4,327/2014, to establish new requirements for all financial institutions (segments 1-5) relative to a new Social, Environmental and Climatic Responsibility Policy;
• BCB Resolution No. 139/2021, establishing the Report on Social, Environmental and Climate-related Issues (GRSAC), containing information to be disclosed by financial institutions allocated to segments 1-4, along the lines recommended by the Taskforce on Climate-related Financial Disclosure (TCFD); and
• BCB Resolution No. 140/2021, strengthening the compliance of rural credit with provisions prohibiting credit to agents with illegal social, environmental or climate practices.

2.17. The above-mentioned Central Bank of Brazil (BCB) Resolution No. 140 is one of the pillars of the Sustainable Rural Credit Bureau. Within the Bureau, the BCB has already put in place an open finance platform (BCB Resolution No. 204/2022). The Bureau also promotes integration with other environment- and land-related government databases, and upcoming regulation will make it easier for the market to identify rural credit operations that generate social, environmental or climatic benefits, one or all of them. (...)

2.48. It should be noted that state-owned enterprises (SOEs) are not treated differently from private companies by sectorial regulatory agencies, nor in relation to environmental legislation. (...)

2.63. (...) Since its foundation, the National Bank of Social and Economic Development (BNDES) has played a fundamental role in stimulating the expansion of industry and infrastructure in the country. Over the course of the Bank's history, its operations have evolved in accordance with the country's social and economic challenges, and now they include support for (...) sustainable socio-environmental development (...)

2.64. Credit lines offered by the National Bank of Social and Economic Development (BNDES) encompass long-term financing for the development of investment projects and for the commercialization of new machines and equipment, as well as the financing of Brazilian exports, taking into account ethical, environmental and sustainable development principles. (...)

2.66. The National Bank of Social and Economic Development (BNDES) aims to be the bank of Brazilian sustainable development and its missions are linked to the Sustainable Development Goals (SDGs). (...) Building resilient infrastructure, promoting inclusive and sustainable industrialization and fostering innovation stay relevant to the institution's strategy. BNDES's missions are also aligned to the transition to a low carbon economy, with a focus on expanding renewable energy, developing the market for carbon credits and promoting productive sector operations that have a positive environmental impact.

2.67. Beyond credit, the National Bank of Social and Economic Development (BNDES) stands out in project structuring, provision of guarantees, fund investments and issuance of green bonds. (...)

2.72. Brazil is also implementing social dialogue practices and technological tools in order to inform, train and make the social actors aware of the national law system and the international labour standards in order to help businesses achieve sustainable decent work across the country.

3.17. (...) Brazil took part in conclusion of the Joint Statement Initiative (JSI) on Services Domestic Regulation in December 2021, and presented a pre-finalization schedule with five additional sectors (...) Environmental Services (...) showing its commitment to an ambitious outcome of this initiative. Brazil has also actively participated in all negotiations during the WTO's Twelfth Ministerial Conference (MC12).

3.20. Brazil attaches high priority to strengthening the WTO dispute settlement system and has actively participated in the mechanism since its very first dispute that advanced beyond the consultations stage (US – Gasoline). To date, of 612 WTO disputes, Brazil participated in 215 of them – 34 as complainant, 17 as respondent and 164 as a third party. Most of the cases of which Brazil was or is a party have dealt with issues that are at the core of the Multilateral Trading System, such as: (...) the protection of the environment (Brazil–Tyres) (...)