2025 Annual Stewardship Report (published in 2026)

Our annual stewardship report shows how we put into practice the seven principles of the Brazilian Stewardship Code, which we have supported since 2022. The 2025 edition focuses on FAMA LatAm Climate Turnaround (CTF), a fund that seeks to accelerate the climate transition of large Latin American emitters through investment and constructive engagement.

In 2025, we engaged with all four CTF portfolio companies, through 25 bilateral meetings covering 16 topics, from regenerative agriculture to zero deforestation. We voted at 100% of the meetings at which we were entitled to vote and continued to lead collective engagement groups under the PRI’s SPRING initiative. The report also features our engagement case with SLC Agrícola, which led to a joint study on regenerative agriculture and climate resilience.