Bovespa and the Social Stock Exchange: Mobilizing the Financial Market for Development

This case study examines BOVESPA’s launch of the world’s first “social stock exchange” in 2003, aiming to connect ethical investors with social purpose projects in Brazil. It highlights the initiative’s marketing function for BOVESPA and its role in democratizing impact investing. The study discusses how social stock exchanges facilitate access to dedicated investors and businesses aiming for positive social and environmental impact, exploring their functions in creating a liquid market for social securities.