This study, entitled Sustainability ROI, conducted by the Fundação Getúlio Vargas Center for Sustainability (GVces) in partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH is the outcome of the joint work of member companies of the Emerging Market Multinationals (EMM) Network for Sustainability. The goal of this initiative is to measure the sustainable and financial return of sustainability projects implemented by companies in emerging markets. The initiative was driven by i) the need to incorporate sustainability aspects in financial choices and decision-making processes; and ii) to contribute to the advancement of formal and explicit incorporation of sustainability in projects’ financial assessments through a discussion that questions how these aspects impact projected cash flows and discount rates.