São Paulo, March 2026
30% Club Chapter Brazil is launching a coordinated engagement initiative focused on 38 Brazilian listed companies scheduled to renew their Boards of Directors in the 2026 AGM cycle.
The objective is clear and time-bound:
to advance a minimum threshold of 30% women on Boards of Directors in the 2026 renewal process.
Why 2026 Matters
- 38 listed companies are expected to renew board mandates.
- Women represent 51% of Brazil’s population (PNAD Contínua 2025, referenced by IBGC).
- Female board-level talent in Brazil is deep, experienced, and globally competitive.
- Current representation remains below structural potential.
The 2026 AGM cycle represents a measurable inflection point for governance evolution in Brazil.
Engagement Framework
The initiative is structured around four coordinated actions:
1. Capital Markets Awareness
Publication of a governance-focused article in Revista RI (Investor Relations Magazine).
Formal letter from the Chair of 30% Club Chapter Brazil to institutional investors, encouraging active stewardship engagement on board composition.
2. Direct Company Engagement
Formal letters to:
- Board Chairs
- Significant shareholders
- Institutional investors
- Market analysts
of the 38 companies undergoing renewal, advocating structured succession planning aligned with the 30% threshold.
3. Ecosystem Mobilization
Communication of the Action Plan to leading capital markets institutions, including:
- AMEC
- IBGC
- WCD
- Comissão de Valores Mobiliários
- B3
4. Monitoring and Transparency
Ongoing monitoring of board nominations and election outcomes throughout 2026, fostering transparency and constructive dialogue with market participants.
Alignment with Global Stewardship Standards
The 30% threshold is consistent with governance frameworks and voting guidelines increasingly adopted by global asset managers and proxy advisors, including:
- BlackRock
- Vanguard
- State Street Global Advisors
- ISS
- Glass Lewis
Gender balance at board level is increasingly viewed as a governance baseline rather than a differentiator.
Call to Action
- 30% Club Chapter Brazil invites institutional investors and proxy advisors to:
- Engage portfolio companies scheduled for 2026 board renewals;
- Encourage transparent nomination processes;
- Signal voting expectations aligned with board diversity best practices;
- Support credible, merit-based female candidates.
The issue is not talent availability — it is governance alignment.
The 2026 renewal cycle presents a concrete opportunity to accelerate structural progress in Brazilian corporate governance while strengthening long-term value creation and board effectiveness.
