The variety of products coming from the oil and gas industry, as well as their economic and social importance, makes the extractive activity essential to the Brazilian economy. However, the operation of the sector generates recurrent records of environmental accidents and many cause significant damage to ecosystems and local communities. Even though Brazil has robust environmental legislation, the need for new tools to protect the environment is evident. Considering the problem, this paper aims to address an alternative financial instrument linked to environmental licensing: the Autonomous Bank Guarantee (GBA) at first request. To this end, it is presented first an analysis of the methods of environmental protection in force in legislation and then the regulation that deals with the GBA in the Marine Extractive Reserve of Itaipu - RESEX Itaipu, in the municipality of Niterói, Rio de Janeiro, applied to the operation of the oil and gas industry. Throughout the work it becomes clear that, although the importance of this economic instrument and its advantages are evident, there is a need for further study on the subject, since there are obstacles to its greater application, both in terms of its operation and its legal application.
Keywords: Environment; Bank Guarantee; Insurance; Prevention; Damage.