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Open finance in Brazil: moving towards environmental and social sustainability

Massimo Preziuso

International Journal of Emerging Markets2026https://doi.org/10.1108/ijoem-07-2025-1439article
AJG 1ABDC B
Weight
0.50

Abstract

Purpose This study aims to examine how Brazil’s regulatory framework for open finance – initially designed to promote financial inclusion through competition – can evolve to integrate broader environmental and social objectives. Design/methodology/approach It used a qualitative approach, drawing on thematic analysis of semi-structured interviews with key stakeholders in Brazil’s open-finance ecosystem. Insights inform a middle-range theory for sustainable open-finance implementation, supported by an adapted impact value chain framework. Findings The Brazilian Central Bank (BACEN) has advanced inclusive finance innovation, yet environmental objectives remain marginal in open-finance implementation. The study identifies three potential pathways for embedding sustainability into open finance: “policy for sustainability”, “reducing risks” and “national and international collaboration”. Practical implications The findings offer insights for regulators, particularly BACEN, to reorient open-finance implementation toward sustainability and support Brazil’s inclusive and climate-resilient development agenda. Originality/value This paper contributes to emerging literature on sustainable open finance by combining stakeholder insights with recent policy developments to propose a conceptual model linking open finance with environmental and social objectives.

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https://doi.org/https://doi.org/10.1108/ijoem-07-2025-1439

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@article{massimo2026,
  title        = {{Open finance in Brazil: moving towards environmental and social sustainability}},
  author       = {Massimo Preziuso},
  journal      = {International Journal of Emerging Markets},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1108/ijoem-07-2025-1439},
}

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

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