Sustainable finance in Brazil has moved from a niche product set to a defining pillar of capital markets and project finance. Over the past year, issuers, banks and sponsors have turned increasingly to sustainability-linked instruments to fund infrastructure, energy transition and corporate growth. At the center of that shift has been Pinheiro Neto Advogados, whose transaction advice across green, social and sustainability-linked financings has helped shape the structure and credibility of Brazil’s sustainable finance market.
During the awards period, Pinheiro Neto advised on a broad range of transactions that blended traditional financing techniques with environmental and social performance targets. Its work spanned sustainable bonds, ESG-linked loans and complex project finance structures tied to renewable energy and environmental outcomes, reinforcing its position as a reference firm for both domestic and international investors seeking compliant and bankable sustainable finance frameworks.
A key differentiator in Pinheiro Neto’s approach has been its ability to integrate regulatory, environmental and capital markets expertise into a single advisory platform. Sustainable finance transactions in Brazil require alignment with evolving disclosure standards, carbon accounting methodologies and verification mechanisms. The firm’s experience in environmental law and corporate governance has enabled it to guide clients through these requirements while still delivering transactions at scale and speed.
Pinheiro Neto’s long-standing engagement with environmental and carbon-related issues has translated directly into its deal execution. Its understanding of greenhouse gas measurement and compensation frameworks has proven critical in structuring sustainability-linked financings with performance indicators that withstand scrutiny from investors and external reviewers. This technical depth has been particularly relevant as Brazilian issuers face growing pressure to demonstrate credible transition strategies rather than simply label transactions as green.
Partner Fernando Meira says this consistency is rooted in a culture developed over many years. “We really value our model, which has been built up in the course of a long trajectory,” he says. “A culture of doing things with caution, much transparency and investment in the qualification of people supports our business well.”
Over the past year, the firm advised on financings connected to forest restoration, renewable energy generation and infrastructure projects with environmental and social impact components. These transactions required the coordination of lenders, development banks, verification agents and regulators, with Pinheiro Neto acting as legal architect for structures that balanced commercial objectives with sustainability commitments.
Brazil remained Latin America’s largest market for labeled bonds and sustainability-linked instruments over the period, driven by utilities, agribusiness and infrastructure sponsors seeking long-term funding tied to ESG metrics. Law firms advising in this space have had to respond to more sophisticated documentation standards and closer investor oversight, particularly around use-of-proceeds clauses and reporting obligations.
Pinheiro Neto’s role has not been limited to execution. The firm has also helped shape market practices by advising clients on the evolution of sustainable finance frameworks, including the incorporation of internationally recognized standards such as the Greenhouse Gas Protocol and ISO-based reporting methodologies into transaction documentation.
In parallel, the firm has remained active in advising financial institutions on product development in the sustainable finance space. As banks expand their green and sustainability-linked loan portfolios, Pinheiro Neto has helped design contractual frameworks that accommodate both regulatory compliance and commercial flexibility, positioning the firm as a bridge between issuers seeking funding and lenders seeking credible ESG-aligned assets.
For Meira, this approach also strengthens client relationships in an increasingly competitive legal market. “If we focus on working ethically and with much quality, on being a partner to clients, we will increase their loyalty,” he says.
The breadth of Pinheiro Neto’s sustainable finance work reflects a market that is no longer experimental. Transactions now demand the same rigor as conventional bonds and loans, while adding layers of environmental and social accountability. The firm’s consistent presence across these deals underscores its ability to operate at the intersection of law, finance and sustainability policy.
While Pinheiro Neto’s internal sustainability initiatives reinforce its institutional credibility, its award recognition rests squarely on its transaction leadership. By advising on some of Brazil’s most sophisticated ESG-linked financings over the past year, the firm has helped define how sustainable finance is structured, documented and enforced in the country.