Transição Financeira para Empresas em Transformação

The Climate Bonds Initiative (CBI) proposes a framework to evaluate the credibility of corporate decarbonization transitions to prevent greenwashing in sustainable finance. The proposal introduces five essential attributes for a credible transition: Paris Agreement-aligned goals, robust plans, implementation action, internal monitoring, and external reporting. The CBI intends to expand its certification scheme beyond Use-of-Proceeds (UoP) bonds to include Sustainability-Linked Bonds (SLBs) and Sustainability-Linked Loans (SLLs), as well as certifying companies' overall transition agendas.

• The Climate Bonds Initiative (CBI) identifies five core attributes that a company must meet to demonstrate a credible transition aligned with the goal of net-zero emissions by 2050: 1) Paris Agreement-aligned goals, 2) robust plans, 3) implementation action, 4) internal monitoring, and 5) external reporting.
• CBI proposes a tiered labeling system for transition: 'Green' for those already at net-zero, 'Green Transition' for those aligned with a common sectoral transition pathway, and 'Intermediate Transition' for those aiming for that pathway but not yet aligned. The 'Intermediate Transition' category is intended to have a limited time window, potentially until 2025, to prevent the necessary changes from being delayed indefinitely.
• To ensure credibility, companies must select a common sectoral green transition pathway rather than defining their own company-specific pathway, which would hinder comparability and increase greenwashing risks. This pathway must be based on science and cover short, medium, and long-term targets, including Scope 1, 2, and 3 emissions.
• A robust transition plan must include a detailed transition strategy, a corresponding financing plan that addresses capital expenditures (CapEx) and operational expenditures (OpEx), and the adoption of necessary governance mechanisms. For fundamental corporate transformations, board oversight and climate-related competencies are mandatory.
• CBI aims to expand its certification scheme to include Sustainability-Linked Bonds (SLBs) and Sustainability-Linked Loans (SLLs), as well as the certification of companies themselves regardless of a specific financial instrument. This is intended to provide transparency and scientific basis for instruments that are currently difficult for investors to evaluate due to inconsistent metrics.
• The sustainable finance market saw significant growth in the first half of 2021, with Green, Social, and Sustainability (GSS) bonds and SLBs totaling USD 496.1 billion. High-carbon sectors, such as oil and gas, are more prominent in the SLB market than in the UoP market because they are in earlier stages of transition.
• CBI notes that many early SLBs and transition bonds have raised market concerns regarding the relevance, reliability, and ambition of their transition pathways, as KPIs are often entity-specific and difficult to compare with the Paris Agreement goals.

APA

Creed, A., & Horsfield, M. (2021). Transição Financeira para Empresas em Transformação. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/publications/Climate-Bonds_Transition-Finance-for-Transforming-Companies_PT_Sep-2022.pdf

Chicago

Creed, Anna, and Michelle Horsfield. Transição Financeira para Empresas em Transformação. Climate Bonds Initiative, 2021. https://www.climatebonds.net/files/documents/publications/Climate-Bonds_Transition-Finance-for-Transforming-Companies_PT_Sep-2022.pdf.

Wikipedia

{{cite report |last1=Creed |first1=Anna |last2=Horsfield |first2=Michelle |title=Transição Financeira para Empresas em Transformação |publisher=Climate Bonds Initiative |date=10 September 2021 |url=https://www.climatebonds.net/files/documents/publications/Climate-Bonds_Transition-Finance-for-Transforming-Companies_PT_Sep-2022.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{creed2021transio, author = {Creed, Anna and Horsfield, Michelle}, title = {{Transição Financeira para Empresas em Transformação}}, institution = {Climate Bonds Initiative}, year = {2021}, month = sep, url = {https://www.climatebonds.net/files/documents/publications/Climate-Bonds_Transition-Finance-for-Transforming-Companies_PT_Sep-2022.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }