diff --git a/modules/site_tools_msc_2020/src/Plugin/Field/FieldFormatter/MscTermListFormatter.php b/modules/site_tools_msc_2020/src/Plugin/Field/FieldFormatter/MscTermListFormatter.php
new file mode 100644
index 0000000..3323d01
--- /dev/null
+++ b/modules/site_tools_msc_2020/src/Plugin/Field/FieldFormatter/MscTermListFormatter.php
@@ -0,0 +1,212 @@
+<?php
+
+namespace Drupal\site_tools_msc_2020\Plugin\Field\FieldFormatter;
+
+use Drupal\Component\Utility\Html;
+use Drupal\Core\Entity\EntityTypeManagerInterface;
+use Drupal\Core\Field\FieldDefinitionInterface;
+use Drupal\Core\Field\FieldItemListInterface;
+use Drupal\Core\Field\FormatterBase;
+use Drupal\Core\Field\Plugin\Field\FieldType\EntityReferenceItem;
+use Drupal\Core\Form\FormStateInterface;
+use Symfony\Component\DependencyInjection\ContainerInterface;
+
+/**
+ * Formatter que exibe termos MSC 2020 como lista hierárquica aninhada.
+ *
+ * Os termos selecionados são agrupados pela categoria pai. O pai aparece
+ * como item de primeiro nível e os filhos como sub-lista dentro dele.
+ * Opcionalmente, os rótulos são linkados para a página do termo.
+ *
+ * @FieldFormatter(
+ *   id = "msc_term_list",
+ *   label = @Translation("MSC 2020 — Lista hierárquica"),
+ *   field_types = {
+ *     "entity_reference"
+ *   }
+ * )
+ */
+class MscTermListFormatter extends FormatterBase {
+
+  public function __construct(
+    $plugin_id,
+    $plugin_definition,
+    FieldDefinitionInterface $field_definition,
+    array $settings,
+    $label,
+    $view_mode,
+    array $third_party_settings,
+    protected EntityTypeManagerInterface $entityTypeManager,
+  ) {
+    parent::__construct($plugin_id, $plugin_definition, $field_definition, $settings, $label, $view_mode, $third_party_settings);
+  }
+
+  public static function create(ContainerInterface $container, array $configuration, $plugin_id, $plugin_definition): static {
+    return new static(
+      $plugin_id,
+      $plugin_definition,
+      $configuration['field_definition'],
+      $configuration['settings'],
+      $configuration['label'],
+      $configuration['view_mode'],
+      $configuration['third_party_settings'],
+      $container->get('entity_type.manager'),
+    );
+  }
+
+  public static function isApplicable(FieldDefinitionInterface $field_definition): bool {
+    $storage = $field_definition->getFieldStorageDefinition();
+    if ($storage->getSetting('target_type') !== 'taxonomy_term') {
+      return FALSE;
+    }
+    $handler_settings = $field_definition->getSetting('handler_settings');
+    return !empty($handler_settings['target_bundles']['msc_2020']);
+  }
+
+  public static function defaultSettings(): array {
+    return ['link_to_entity' => FALSE] + parent::defaultSettings();
+  }
+
+  public function settingsForm(array $form, FormStateInterface $form_state): array {
+    $elements = parent::settingsForm($form, $form_state);
+    $elements['link_to_entity'] = [
+      '#type' => 'checkbox',
+      '#title' => $this->t('Link para a entidade referenciada'),
+      '#default_value' => $this->getSetting('link_to_entity'),
+    ];
+    return $elements;
+  }
+
+  public function settingsSummary(): array {
+    $summary = parent::settingsSummary();
+    $summary[] = $this->getSetting('link_to_entity')
+      ? $this->t('Link para a entidade referenciada')
+      : $this->t('Sem link para a entidade referenciada');
+    return $summary;
+  }
+
+  public function viewElements(FieldItemListInterface $items, $langcode): array {
+    $tids = [];
+    foreach ($items as $item) {
+      if ($item instanceof EntityReferenceItem && !empty($item->target_id)) {
+        $tids[] = (int) $item->target_id;
+      }
+    }
+
+    if (empty($tids)) {
+      return [];
+    }
+
+    $link = (bool) $this->getSetting('link_to_entity');
+    $storage = $this->entityTypeManager->getStorage('taxonomy_term');
+    $terms   = $storage->loadMultiple($tids);
+
+    // Separa pais e filhos; coleta códigos de pais ausentes.
+    $parents_by_code  = [];
+    $children_by_code = [];
+    $missing_codes    = [];
+
+    foreach ($terms as $term) {
+      $code = $term->get('field_msc_code')->value;
+      if (strlen($code) === 2) {
+        $parents_by_code[$code] = $term;
+      }
+      else {
+        $parent_code = substr($code, 0, 2);
+        $children_by_code[$parent_code][] = $term;
+        if (!isset($parents_by_code[$parent_code])) {
+          $missing_codes[$parent_code] = $parent_code;
+        }
+      }
+    }
+
+    // Carrega pais que não foram selecionados mas são necessários para agrupar.
+    if (!empty($missing_codes)) {
+      $parent_tids = $storage->getQuery()
+        ->condition('vid', 'msc_2020')
+        ->condition('field_msc_code', array_values($missing_codes), 'IN')
+        ->accessCheck(FALSE)
+        ->execute();
+      foreach ($storage->loadMultiple($parent_tids) as $term) {
+        $code = $term->get('field_msc_code')->value;
+        $parents_by_code[$code] = $term;
+      }
+    }
+
+    // Ordena grupos por código.
+    $all_codes = array_unique(
+      array_merge(array_keys($parents_by_code), array_keys($children_by_code))
+    );
+    sort($all_codes);
+
+    // Monta o render array como lista aninhada.
+    $build = [
+      '#prefix' => '<ul class="msc-terms-list">',
+      '#suffix' => '</ul>',
+    ];
+
+    foreach ($all_codes as $i => $code) {
+      $parent   = $parents_by_code[$code] ?? NULL;
+      $children = $children_by_code[$code] ?? [];
+
+      usort($children, fn($a, $b) => strcmp(
+        $a->get('field_msc_code')->value,
+        $b->get('field_msc_code')->value,
+      ));
+
+      $build[$i] = [
+        '#prefix' => '<li class="msc-terms-list__parent">',
+        '#suffix' => '</li>',
+        'label'   => $this->termLabel($parent, $code, $link),
+      ];
+
+      if (!empty($children)) {
+        $build[$i]['children'] = [
+          '#prefix' => '<ul class="msc-terms-list__children">',
+          '#suffix' => '</ul>',
+        ];
+        foreach ($children as $j => $child) {
+          $child_code = $child->get('field_msc_code')->value;
+          $build[$i]['children'][$j] = [
+            '#prefix' => '<li class="msc-terms-list__child">',
+            '#suffix' => '</li>',
+          ] + $this->termLabel($child, $child_code, $link);
+        }
+      }
+    }
+
+    return [$build];
+  }
+
+  /**
+   * Retorna um render array para o rótulo do termo, com ou sem link.
+   *
+   * Quando o termo pai não está na seleção (apenas agrupa filhos), é exibido
+   * sem link mesmo que a opção esteja ativa, pois o pai não foi selecionado.
+   *
+   * @param \Drupal\taxonomy\TermInterface|null $term
+   *   Termo a exibir, ou NULL se o pai não foi carregado.
+   * @param string $code
+   *   Código MSC usado como fallback quando $term é NULL.
+   * @param bool $link
+   *   Se TRUE e $term não é NULL, envolve o rótulo num link.
+   */
+  protected function termLabel($term, string $code, bool $link): array {
+    if ($term === NULL) {
+      return ['#markup' => Html::escape($code)];
+    }
+
+    $text = Html::escape($code . ' — ' . $term->label());
+
+    if ($link && $term->access('view')) {
+      return [
+        '#type'  => 'link',
+        '#title' => $code . ' — ' . $term->label(),
+        '#url'   => $term->toUrl(),
+      ];
+    }
+
+    return ['#markup' => $text];
+  }
+
+}