Fama LatAm Climate Turnaround – Relatório de Gestão 2º tri 2026

We are pleased to share the LatAm Climate Turnaround Fund Management Report for the second quarter of 2026.

The CIO’s Letter begins with the Brazilian Securities and Exchange Commission’s (CVM) recent decision to revoke the mandatory climate disclosure requirement and uses it as a starting point to discuss an issue that lies at the heart of our strategy: the market still struggles to properly price the economic value created by the climate transition. It is precisely in the gap between value creation and value recognition that we seek to identify investment opportunities.

The report also explains how we construct the portfolio. Our climate theses determine why we invest in each company, while our combination of economic regimes is designed to ensure that the Fund’s performance does not depend on any single macroeconomic scenario.

Finally, we present an update on our portfolio companies, the stewardship activities carried out during the quarter, and the portfolio’s Climate Panel, which tracks emissions, carbon intensity, key transition levers, and the engagement stage of each invested company.

We hope you find this report informative. As always, we remain available to discuss its contents and the continued evolution of our investment strategy.