Sustentabilidade no mercado de capitaisUm novo regime informacional

Resumo

This research focuses on the regulatory reforms now underway in global capital markets, particularly in the area of information disclosure, which is being reshaped by the inclusion of sustainable development objectives, perspectives, and requirements. It begins by defining the traditional regulatory model, typically grounded in economic concerns, and then explores the shift toward an informational regime centered on sustainable finance. The study asks whether these adjustments are merely quantitative or whether they also represent a qualitative transformation that could give rise to a new regulatory framework. A conceptual approach is used to understand regulatory regimes—their ideas, public philosophies, institutions, and policies—which serves as the theoretical lens for the investigation. Drawing on this framework, the research first analyzes how regulation with social goals evolved in U.S. public administration, along with the reactions it provoked. This historical account provides a catalog of challenges, criticisms, resistance, and solutions that informs the inquiry into the socioeconomic objectives of capital market regulators. In addition to the conceptual and historical analysis, the study surveys various international initiatives in sustainable finance and examines Brazil’s domestic experience in adopting new standards, considering the country’s legal framework. The findings from the descriptive analysis, combined with the theoretical perspective, are then critically assessed. The work concludes with reflections on regulatory policies and potential pathways for further action. Keyword: Capital Markets. Sustainable Finance. Economic Regulation. Social Regulation. Regulatory Regimes.

Ficha do documento

Tipo

Dissertação

Ano

2025

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/36766

Temas

Administração PúblicaMeio Ambiente

Palavras-chave

Mercados de capitaisFinanças sustentáveisRegulação econômicaRegulação ComercialRegimes regulatóriosCapital MarketsSustainable FinanceEconomic RegulationSocial RegulationRegulatory RegimesDireitoRegulação social