CBPS 01 · CBPS 02
CVM 193
the voluntary option — and what actually binds in 2026
Since CVM Resolution 244/26, CVM 193 is a voluntary option carrying a continuity commitment. The obligation for the 2026 financial year sits in CMN Resolution 5,185 and BCB Resolution 435, which apply Pronouncements CBPS 01 and CBPS 02.
What CVM 193 requires today — and from whom.
Published in October 2023 and amended by CVM Resolutions 219/24, 227/25 and 244/26, CVM Resolution 193 establishes a voluntary option to prepare and disclose a sustainability-related financial information report. The mandatory obligation formerly in its Article 2 was revoked by CVM Resolution 244, of May 2026.
The option is not without consequence. An entity that takes it must publish the report for at least three consecutive financial years and declare, explicitly and without reservation, adherence to the standards issued by the CBPS and the ISSB. From 1 January 2027, a listed company that chooses not to file must justify that decision through a market announcement.
The obligation that actually binds in the 2026 financial year comes from elsewhere: CMN Resolution 5,185 and BCB Resolution 435 require covered institutions — registered as listed companies or leading a prudential conglomerate — to prepare and disclose the report applying Technical Pronouncements CBPS 01 and CBPS 02, approved in September 2024.
Enverium structures the entire process — from requirement identification to the assembly of disclosure packs ready for review and assurance.
A voluntary option, with commitment
A minimum commitment of three consecutive financial years, an explicit and unreserved declaration of adherence to the CBPS and the ISSB, and a market announcement from anyone deciding to stop publishing.
Who is obliged in 2026
Institutions covered by CMN Resolution 5,185 and BCB Resolution 435 — listed companies or leaders of an S1 or S2 prudential conglomerate — applying CBPS 01 and CBPS 02 from the 2026 financial year.
Deadlines and assurance
In the first filing year, on the same date as the Reference Form; from the second, within three months of year end or alongside the financial statements, whichever comes first. Reasonable assurance applies from financial years beginning in 2026.
What the platform covers for CVM 193
- 01 Mapping of the CBPS 01 and CBPS 02 disclosure requirements applicable to your regulatory profile.
- 02 A clear separation between CVM 193's voluntary path and the CMN 5,185 / BCB 435 obligation, with every result traced back to the rule that produced it.
- 03 A timeline carrying the filing milestones and the three-year continuity commitment.
- 04 Governance decision records linked to each disclosure item.
- 05 Preparation of disclosure packs with traceable evidence, ready for reasonable assurance.
Related Resources
Data Collection
How to coordinate data and evidence collection across teams and subsidiaries.
ISSB — IFRS Foundation
Official page of the International Sustainability Standards Board.
CVM — Securities Commission
Brazil's capital markets regulator.
BCB Resolution 435
The disclosure obligation for institutions authorised by the Central Bank, from the 2026 financial year.
Prepare your company for CVM 193
Talk to our specialists about your company's disclosure timeline and scope.