Listed Market

We have developed a wide range of products and services for the Listed B3 market with the aim of encouraging companies to follow environmental, social and governance best practices, within internationally recognized standards.

One mechanism to encourage the adoption of best practices and transparency are ESG indexes that group together companies with good ESG performance.

These indices can be replicated by Exchange Traded Funds (ETFs), where returns track the performance of these companies. Through this type of product we reach investors who want to bring ESG criteria into their investment portfolios.

In 2023, we had ESG indexes in the Listed B3 market. See below.

The image shows the text “ISE B3” in blue capital letters on a white background.

Corporate Sustainability Index

The ISE B3 is designed to measure the average stock performance of companies recognized for their commitment to corporate sustainability and implementation of ESG practices. The goal of the index is to help investors make informed decisions and create an incentive for companies to implement ESG practices that support business perennity. Created in 2005 with support from the IFC, ISE is a pioneer in Latin America, being the fourth ESG Index created in the world.

ISE B3 has one listed ETF that tracks its performance: ISUS11. More details here..

The image features the text “ICO2 B3” in blue capital letters on a white background.

Carbon Efficient Index

Created in 2010, ICO2 B3 shows the market the companies that have taken the first step in the climate change agenda by preparing their GGH inventories. The index also foresees how members of the portfolio are preparing for a resilient and low-carbon economy.

The ICO2 B3 performance is tracked by a listed EST: ECOO11 More details here..

The image displays the text 'IDIVERSA B3' in bold, dark blue letters on a transparent or light background.

Diversity Index

This is the first Latin American index to encompass gender and race criteria when selecting companies for its portfolio. Through this initiative, we aim to promote the diversity and employability of underrepresented groups (women and black and indigenous people). The methodology takes into consideration how much a company’s diversity reflects the profile of the Brazilian population.

IDIVERSA B3 also has a listed ETF that tracks its performance: DVER11 More details here..

The image shows the text “IGPTW B3” written in dark blue capital letters on a black background.

GPTW B3 Index

Created via the Great Place to Work (GPTW) ranking, this index shows the average quotation performance of assets accepted for trading at B3 in companies that have the GPTW certification.

Text in dark blue letters reading 'IGC B3' on a transparent background.

Special Corporate Governance Stock Index

The IGC is the average performance index for quotations of assets in companies listed on the Novo Mercado or at Levels 1 or 2 of B3.

The image features the text “IGC-NM B3” in blue capital letters on a white background.

Novo Mercado Corporate Governance Equity Index

This is comprised of companies listed in the Novo Mercado, at Level 1 or at Level 2. In addition to considering the governance levels of the listed companies, it has stricter liquidity criteria.

The performance of IGCT B3 is tracked by a listed ETF: GOVE11. See here..

The image features the text “ITAG B3” in blue capital letters on a white background.

Special Tag-Along Stock Index

This is comprised of companies that provide the best conditions for minority shareholders in the case of ownership transfer.

The image features the text “ICBIO B3” in blue capital letters on a white background.

B3 Decarbonization Credit Index

The first index for our OTC segment, this is an average weighted and adjusted price performance indicator of the Carbon Credits (CBIO) registered at B3.

S&P/B3 Brazil ESG Index

The S&P/ B3 Brazil ESG index (or Brazil ESG Index) was launched in 2020 in partnership with S&P and uses criteria based on environmental, social and governance practices to select Brazilian companies for its portfolio.

The Brazil ESG Index is also tracked by a listed ETF: ESGB11. Click here for more details.

Green equities

B3 Green Equities (BAV) was developed to recognize companies whose activities contribute toward protecting the environment and addressingclimate change. This initiative helps to keep the Brazilian capital market at the vanguard of the international movement to encourage companies, voluntarily, to operate in line with Environmental, Social and Corporate Governance (ESG) best practices.

This initiative helps investors to direct their resource into the financing of a more sustainable economy, creating a model in which listed companies’ communication of the origin of their revenues and the direction of investments is standardized, transparent and objective. For the companies, this is a way of clearly showing their commitment to the green economy, as well as facilitating future flows of potentially allocable sustainable capital.

The BAV designation is based on the Green Equity Principles, launched in 2023 by the World Federation of Exchanges (WFE), an organization that approves the development of the capital market through surveys, studies and statistics about market best practices, including sustainable financing and international rules.

To apply the initiative, the company must contract an Assessment Entity previously accredited by B3, which will assure compliance with the established criteria to attest that the company has “green equities”.

Please note that to keep the designation, companies must undergo an annual assessment.

See the report about the launch of the B3 Green Equities designation. If you have any queries, please email us at [email protected]

For more information,

access green equities