ENADE Administração Practice Questions - ENADE Administração - Exame Nacional De Desempenho Dos Estudantes Exam

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Under the Brazilian Securities Commission (Comissão de Valores Mobiliários - CVM) Resolution 59, publicly traded companies in Brazil must disclose ESG (Environmental, Social, and Governance) information in their Reference Form (Formulário de Referência) following the 'comply or explain' (pratique ou explique) model. If a listed corporation decides not to adopt key performance indicators for greenhouse gas (GHG) emissions, what is its regulatory obligation?

It must pay an automatic fixed statutory penalty to the CVM before publishing its annual audited financial statements. It is exempt from reporting any explanation because ESG disclosures remain strictly voluntary for all Brazilian listed corporations. It must transparently justify why it has not adopted GHG emissions indicators and provide reasons for the non-adoption in its official filing. It must immediately suspend trading of its shares on the B3 stock exchange until a carbon audit is completed.

Correct Answer:

It must transparently justify why it has not adopted GHG emissions indicators and provide reasons for the non-adoption in its official filing.

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