As global markets increasingly pivot toward sustainable development, Brazil has emerged as a leader for green investment, using its unique renewable energy matrix(over 80% renewable) and immense biodiversity to set new corporate standards.
In 2025, the country’s leading open-capital companies are moving beyond mere regulatory compliance, embedding Environmental, Social, and Governance (ESG) principles directly into their core strategies to attract foreign capital and mitigate climate risk.
Why Going Green Matters
Going green is no longer just about “being nice” to the planet; it is a smart business move. In 2026, a company’s environmental track record is just as important as its profit margins.
- Better Funding: Big investors prefer “safe” companies. Those with green credentials can often borrow money at lower interest rates and attract more international capital.
- Lower Costs: Using less water, producing less waste, and switching to renewable energy (like solar or wind) actually saves a company millions in utility bills over time.
- Attracting Talent: The best employees—especially younger generations—want to work for companies that have a purpose. A green reputation helps businesses hire and keep top talent.
- The planet needs it: Temperatures already are 1.2ºC higher, and we can’t afford delaying changing to greener practices.
How it works?
The ISE B3, essentially a “Green Seal” for the Brazilian stock market, created in 2005 by Brazil’s stock exchange (B3), is a list of companies that are leaders in sustainability. For investors, it acts as a guide to find businesses that are not only profitable but also responsible toward the environment, their employees, and their ethical standards.
It isn’t enough for a company to simply say they are green; they have to prove it through a rigorous three-step check:
- Step 1 Popularity & Size: Only the most traded and stable companies on the exchange are invited to apply.
- Step 2 The “Sustainability Exam”: Companies answer a massive questionnaire about their carbon emissions, how they treat their workers, and their anti-corruption rules. Experts then audit these answers to make sure they are true.
- Step 3 The Reputation Filter: The B3 monitors news and public data to see if the company has been involved in any recent scandals or environmental disasters. If a company fails this “background check,” they are disqualified.
The list
Here’s the latest ranking, available on ISE B3’s website, as of 2025:
| Name | SECTOR | RANKING | IN PORTFOLIO? | B3 ISE SCORE |
|---|---|---|---|---|
| AMBIPAR PARTICIPACOES E EMPREENDIMENTOS S/A | Public Utilities/Water and Sanitation | 1 | Yes | 92.33 |
| TELEFÔNICA BRASIL S.A | Telecommunications | 2 | Yes | 91.95 |
| TIM S.A. | Telecommunications | 3 | Yes | 90.03 |
| NATURA &CO HOLDING S.A. | Non-Cyclical Consumption/Personal Use and Cleaning Products/Personal Use | 4 | Yes | 89.65 |
| NEOENERGIA S.A. | Public Utilities/Electric Power (Generation and Transmission) | 5 | Yes | 88.84 |
| LOJAS RENNER S.A. | Cyclical Consumption/Retail/Textiles, Apparel, and Footwear | 6 | Yes | 88.38 |
| ENGIE BRASIL ENERGIA S.A. | Public Utilities/Electric Power (Generation and Transmission) | 7 | Yes | 88.04 |
| BCO BRASIL S.A. | Financial and Others/Financial Intermediaries/Banks | 8 | Yes | 87.50 |
| CPFL ENERGIA S.A. | Public Utilities/Electric Power (Distribution) | 9 | Yes | 85.44 |
| BCO BRADESCO S.A. | Financial and Others/Financial Intermediaries/Banks | 10 | Yes | 85.21 |
| CIA ENERGETICA DE MINAS GERAIS – CEMIG | Public Utilities/Electric Power (Generation and Transmission) | 11 | Yes | 84.58 |
| BCO SANTANDER (BRASIL) S.A. | Financial and Others/Financial Intermediaries/Banks | 12 | Yes | 84.22 |
| COMPANHIA BRASILEIRA DE ALUMÍNIO | Basic Materials/Mining/Metallic Minerals | 13 | Yes | 83.58 |
| “B3 S.A. – BRASIL, BOLSA, BALCÃO” | Financial and Others/Various Financial Services | 14 | Yes | 83.46 |
| KLABIN S.A. | Basic Materials/Wood and Paper/Paper and Cellulose | 15 | Yes | 83.21 |
| RAIA DROGASIL S.A. | Health/Retail and Distribution/Medicines and Other Products | 16 | Yes | 82.77 |
| ITAUSA S.A. | Financial and Others/Diversified Holdings | 17 | Yes | 82.76 |
| ITAU UNIBANCO HOLDING S.A. | Financial and Others/Financial Intermediaries/Banks | 18 | Yes | 82.68 |
| CIA PARANAENSE DE ENERGIA – COPEL | Public Utilities/Electric Power (Distribution) | 19 | Yes | 82.47 |
| CIA BRASILEIRA DE DISTRIBUICAO | Non-Cyclical Consumption/Retail and Distribution/Food | 20 | Yes | 81.82 |
| M.DIAS BRANCO S.A. IND COM DE ALIMENTOS | Non-Cyclical Consumption/Food/Various Foods | 21 | Yes | 80.20 |
| RAIZEN S.A. | Non-Cyclical Consumption/Agriculture/Agriculture | 22 | Yes | 79.76 |
| EQUATORIAL ENERGIA S.A. | Public Utilities/Electric Power (Distribution) | 23 | Yes | 79.75 |
| CTEEP – CIA TRANSMISSÃO ENERGIA ELÉTRICA PAULISTA | Public Utilities/Electric Power (Generation and Transmission) | 24 | Yes | 78.52 |
| CCR S.A. | Industrial Goods/Transportation/Roadway Operation | 25 | Yes | 78.43 |
| COSAN S.A. | Oil, Gas and Biofuels/Exploration, Refining and Distribution | 26 | Yes | 78.21 |
| BRASKEM S.A. | Basic Materials/Chemicals/Petrochemicals | 27 | Yes | 78.10 |
| DEXCO S.A. | Basic Materials/Wood and Paper/Wood | 28 | Yes | 77.96 |
| MARFRIG GLOBAL FOODS S.A. | Non-Cyclical Consumption/Food/Meat and Derivatives | 29 | Yes | 77.74 |
| BCO BTG PACTUAL S.A. | Financial and Others/Financial Intermediaries/Banks | 30 | Yes | 76.73 |
| RUMO S.A. | Industrial Goods/Transportation/Rail Transport | 31 | Yes | 76.62 |
| ECORODOVIAS INFRAESTRUTURA E LOGÍSTICA S.A. | Industrial Goods/Transportation/Roadway Operation | 32 | Yes | 76.53 |
| FLEURY S.A. | Health/Medical, Hospital, Analysis and Diagnostics Services | 33 | Yes | 76.24 |
| IOCHPE MAXION S.A. | Cyclical Consumption/Automobiles and Motorcycles | 34 | Yes | 75.38 |
| IRANI PAPEL E EMBALAGEM S.A. | Basic Materials/Packaging | 35 | Yes | 74.75 |
| SLC AGRICOLA S.A. | Non-Cyclical Consumption/Agriculture/Agriculture | 36 | Yes | 74.64 |
| CENTRAIS ELET BRAS S.A. – ELETROBRAS | Public Utilities/Electric Power (Generation and Transmission) | 37 | Yes | 73.94 |
| HIDROVIAS DO BRASIL S.A. | Industrial Goods/Transportation/Waterway Transport | 38 | Yes | 73.67 |
| BCO PAN S.A. | Financial and Others/Financial Intermediaries/Banks | 39 | Yes | 73.02 |
| BRF S.A. | Non-Cyclical Consumption/Food/Meat and Derivatives | 40 | Yes | 72.93 |
| MRV ENGENHARIA E PARTICIPACOES S.A. | Cyclical Consumption/Construction/Real Estate Development | 41 | Yes | 72.38 |
| SENDAS DISTRIBUIDORA S.A. | Non-Cyclical Consumption/Retail and Distribution/Food | 42 | Yes | 72.28 |
| MAGAZINE LUIZA S.A. | Cyclical Consumption/Retail/Home Appliances | 43 | Yes | 72.04 |
| VIBRA ENERGIA S.A. | Oil, Gas and Biofuels/Exploration, Refining and Distribution | 44 | Yes | 71.93 |
| CEA MODAS S.A. | Cyclical Consumption/Retail/Textiles, Apparel, and Footwear | 45 | Yes | 71.73 |
| COGNA EDUCAÇÃO S.A. | Cyclical Consumption/Diverse/Educational Services | 46 | Yes | 71.52 |
| AUREN ENERGIA S.A. | Public Utilities/Electric Power (Generation and Transmission) | 47 | Yes | 71.38 |
| IGUATEMI S.A. | Financial and Others/Real Estate Operation | 48 | Yes | 71.24 |
| ALLOS S.A | Financial and Others/Real Estate Operation | 49 | Yes | 71.21 |
| WEG S.A. | Industrial Goods/Machinery and Equipment/Motors, Compressors and Others | 50 | Yes | 71.17 |
| AZZAS 2154 S.A. | Cyclical Consumption/Retail/Textiles, Apparel, and Footwear | 51 | Yes | 70.97 |
| TRÊS TENTOS AGROINDUSTRIAL S/A | Non-Cyclical Consumption/Agriculture/Agriculture | 52 | Yes | 70.86 |
| ENEVA S.A | Public Utilities/Electric Power (Generation and Transmission) | 53 | Yes | 70.41 |
| GUARARAPES CONFECCOES S.A. | Cyclical Consumption/Retail/Textiles, Apparel, and Footwear | 54 | Yes | 70.33 |
| MINERVA S.A. | Non-Cyclical Consumption/Food/Meat and Derivatives | 55 | Yes | 69.82 |
| USINAS SID DE MINAS GERAIS S.A.-USIMINAS | Basic Materials/Steel and Metallurgy/Steel | 56 | Yes | 69.60 |
| REDE DOR SÃO LUIZ S.A. | Health/Medical, Hospital, Analysis and Diagnostics Services | 57 | Yes | 68.82 |
| AMBEV S.A. | Non-Cyclical Consumption/Beverages/Beer and Soft Drinks | 58 | Yes | 68.61 |
| MOVIDA PARTICIPACOES SA | Cyclical Consumption/Diverse/Car Rental | 59 | Yes | 68.34 |
| CIA SANEAMENTO DE MINAS GERAIS-COPASA MG | Public Utilities/Water and Sanitation | 60 | Yes | 68.31 |
| OCEANPACT SERVICOS MARITIMOS S.A. | Oil, Gas and Biofuels/Equipment and Services | 61 | Yes | 68.23 |
| ODONTOPREV S.A. | Health/Medical, Hospital, Analysis and Diagnostics Services | 62 | Yes | 68.11 |
| SANTOS BRASIL PARTICIPACOES S.A. | Industrial Goods/Transportation/Support Services and Warehousing | 63 | Yes | 67.42 |
| LOJAS QUERO-QUERO S/A | Cyclical Consumption/Retail/Diverse Products | 64 | Yes | 66.78 |
| JSL S.A. | Industrial Goods/Transportation/Road Transport | 65 | Yes | 66.69 |
| SIMPAR S.A. | Financial and Others/Diversified Holdings | 66 | Yes | 66.33 |
| CIA SANEAMENTO DO PARANA – SANEPAR | Public Utilities/Water and Sanitation | 67 | Yes | 66.30 |
| CAMIL ALIMENTOS S.A. | Non-Cyclical Consumption/Food/Various Foods | 68 | Yes | 65.99 |
| AERIS IND. E COM. DE EQUIP. GERACAO DE ENERGIA S/A | Industrial Goods/Machinery and Equipment/Industrial Machinery and Equipment | 69 | Yes | 65.53 |
| “VAMOS LOCAÇÃO DE CAMINHÕES, MÁQUINAS E EQUIP. S.A.” | Cyclical Consumption/Diverse/Car Rental | 70 | Yes | 65.45 |
| MITRE REALTY EMPREENDIMENTOS E PARTICIPAÇÕES S.A. | Cyclical Consumption/Construction/Real Estate Development | 71 | Yes | 65.04 |
| ULTRAPAR PARTICIPACOES S.A. | Oil, Gas and Biofuels/Exploration, Refining and Distribution | 72 | Yes | 64.37 |
| GRUPO CASAS BAHIA S.A. | Cyclical Consumption/Retail/Home Appliances | 73 | Yes | 64.34 |
| PBG S/A | Industrial Goods/Engineering and Construction/Construction Products | 74 | Yes | 63.48 |
| CYRELA BRAZIL REALTY S.A.EMPREEND E PART | Cyclical Consumption/Construction/Real Estate Development | 75 | Yes | 63.44 |
| CIA SANEAMENTO BASICO EST SAO PAULO | Public Utilities/Water and Sanitation | 76 | Yes | 63.26 |
| SERENA ENERGIA S.A. | Public Utilities/Electric Power (Generation and Transmission) | 77 | Yes | 63.16 |
| PORTO SEGURO S.A. | Financial and Others/Insurance and Pensions/Insurance Companies | 78 | Yes | 62.42 |
| GAFISA S.A. | Cyclical Consumption/Construction/Real Estate Development | 79 | Yes | 61.93 |
| WILSON SONS S.A. | Industrial Goods/Transportation/Support Services and Warehousing | 80 | Yes | 61.34 |
| HYPERA S.A. | Health/Retail and Distribution/Medicines and Other Products | 81 | Yes | 60.93 |
| YDUQS PARTICIPACOES S.A. | Cyclical Consumption/Diverse/Educational Services | 82 | Yes | 60.71 |
