Our mission is to operate in a safe and profitable manner in the oil, gas and energy industry in Brazil and abroad, with social and environmental responsibility, providing products and services that meets clients' needs and contributes to the development of Brazil and the countries in which we operate.
Dow Jones Sustainability Index (DJSI)
Petrobras has been selected as Dow Jones Sustainability World Index component (DJSI) component for the seventh consecutive year. The DJSI is the most important sustainability index in the world and evaluates the best economic, social and environmental practices worldwide.
For the sixth time, the Company got the highest grade in the Transparency criterion and was also considered benchmark in the ´Cleaner Fuels´ and ´Environmental Policy/Management System´ criteria.
Petrobras had an outstanding performance in the environmental dimension placing among the highest scores within its peers. It also showed a good result in the social dimension, especially in the sessions related to ´Social Impacts on Communities´, ´Stakeholder Engagement´ and ´Labor Practice Indicators and Human Rights´.
In this edition, 340 companies from 30 countries integrated the Index, representing 58 industry sectors, 26 from the oil and gas sector. Approximately USD 6 billion are invested through a variety of financial products based on the DJSI.
This is a result of Petrobras dedication to keep its growth aligned with sustainable development principles, minimizing and mitigating the impact of its activities in the environment and strengthening its commitment with society and shareholders.
Management & Excellence (M&E)
A survey carried out by Management & Excellence (M&E) acknowledged Petrobras as the world’s most sustainable oil company. Ranked first, scoring 92.25%, the Company is seen as the global reference in ethics and sustainability. The analysis took 387 international indicators into account, among which reduced pollutant emissions and fewer oil leaks, lower energy consumption, and a transparent vendor service system.
The ranking’s criterion consider adjustments made to international standards, such as those set forth by the International Labor Organization (ILO), by the UN’s Global Compact, and by the Millennium Development Goals (MDG). Furthermore, the study also takes being listed in the Dow Jones Sustainability Index, in addition to the company’s Social and Environmental Balance being presented pursuant to guidance provided by the Global Reporting Initiative (GRI) into account.
The survey was carried out directly at all of the companies and via the press. In the oil and gas industry segment, M&E evaluates performance in corporate governance, ethics, transparency, sustainability, and social responsibility.
In the latest survey, published in 2007, Petrobras had ranked second, with a total score of 89.64% and only trailing Shell (90.16%). It was the company that rose the most among all participants, and was singled out as the fastest grower among the world’s biggest oil sector companies in the past three years.
This outcome shows the company’s acknowledgement and commitment to government, transparency, social and environmental responsibility issues, to investor relations, and to communications with all stakeholders.
Goldmans ranks Petrobras among the six most sustainable investing companies in its 2005 Sustainable Investing in the Energy Sector Report. This means that Petrobras scored high on the Environmental, Social and Governance Index (ESG)(i), has Top 100 assets (ii) and high cash returns (iii). The ESG ranks companies in five areas - corporate governance, environmental and social management, social, environment and investment in the future - based on 2002-2004 data.
The report finds a strong correlation between leaders in the ESG Index and exposure to new legacy assets which will drive corporate returns in the medium term. The ESG Index is based on published information and information disclosed by the companies in the course of the analysis. Petrobras obtained the highest governance score and third in the investment in the future category. According to the study, among the Emerging Market Regionals, Petrobras is the clear leader across all categories.
Sustainable Investment Research International Group - SiRi)
Petrobras appointed Centre Info SA, the Swiss research partner of SiRi Company, to provide a Pro-Sustainability Scan for a selected group of peers. Pro Sustainability Scan is the execution of a benchmark analysis, where the assessment of Petrobras is measured against the rating of selected companies active in the same sector (Oil & Gas)
Petrobras obtained the score of 73, which is the best rating, rewarding its strong commitment to sustainability. Its sustainability score exceeds by 20% the global industry average of its peers. The sustainable performance evaluations are spread between 47 and 73, with an average rating of 59.2.
The benchmark analysis shows how Petrobras performs socially and environmentally compared to other companies within the Oil & Gas sector. The SiRi Company research model which SiRi Company focus on the following seven primary areas: Community, Business Ethics, Corporate Governance, Customers, Employees, Environment, Contractors. .
Extractive Industries Transparency Initiative – EITI
The EITI is a coalition of governments, companies, civil society groups, investors and international organizations aimed to support improved governance in resource-rich countries through the verification and full publication of company payments and government revenues from oil, gas, and mining.
Petrobras has been engaged with EITI since 2005, when it was invited to take part in the International Advisory Group (IAG), which sets the guidelines for the organization’s operations and its governance methodology for candidate nation assessment.
In 2006, the IAG was turned into the EITI Board. The EITI Board is in charge of the strategic direction, of the overall development of the activities, of ensuring the initiative’s credibility, and of boosting its reach among resource-rich nations. Petrobras was on the Board from 2006 to 2008, alternating its position with PEMEX.
Commitment to transparency and anti-corruption is a value inherent to Petrobras’ corporate governance and culture. Even before the EITI was created, and going beyond its requirements, Petrobras has been publishing government take payments in Brazil and abroad for several years.
As an initiative participant, Petrobras commits to work together with the local governments of the nations where it has operations in the deployment of the validation process based on the EITI criteria, by this reasserting its commitment to transparency.
Partnership Against Corruption Initiative (PACI) - January/2005
A Joint Initiative against Corruption, launched in the World Economic Forum, in Davos, Switzerland, in 2003, the PACI aims to harmonize the treatment of problematic issues connected to corruption. Petrobras signed on to the initiative in January 2005.
Partnering against Corruption – Principles for Countering Bribery ("PACI Principles”) is the product of a task force composed of businesses that are members of the World Economic Forum in partnership with the Transparency International NGO and with the Basel Institute on Governance. These Principles require commitment to two fundamental actions:
zero tolerance policy with bribes,
development of a practical, effective implementation program.
The Company has already participated in PACI meetings held in Kuala Lumpur and Rio de Janeiro, the latter organized by Petrobras, in Dallas (2007), Johannesburg (2007), and in Denver (2008).