Strategies and Commitments

We aim to provide energy that ensures prosperity in an ethical, safe and competitive way. For this, market orientation, overcoming and trust are our values, as well as ethics, transparency and respect for life, people and the environment. In this sense, social, environmental and governance issues are decisive for our business, as we understand that the generation of value does not come only from the operation of our assets, but from the way of doing it.

  • Vision

    To be the best energy company in value generation, with a focus on oil and gas, sustainability, safety, respect for people and the environment.

  • Purpose

    Provide energy that ensures prosperity in an ethical, safe and competitive way.

  • Values

    Respect for life, people, and the environment; Ethics and transparency; Overcoming and trust; Market and results oriented.

We have 3 of our top 4 metrics from our Strategic Plan related to safety and sustainability, showing the importance of our commitments to ESG issues.

Top metrics:

  • TIR (Total Recordable Injury recorded per million men-hours) < 0.7 as an alert limit;
  • Indicator of compliance with the targets for greenhouse gas emissions (IAGEE) of 100%;
  • Volume of oil and oil products spilled (VAZO), with an alert limit of 120 m³;
  • Consolidated EVA® delta of US$ 2 billion.

Life is a non-negotiable value for Petrobras, and that is why the company continues to aim for zero fatalities.

In order to ensure alignment of incentives to the achievement of goals, these metrics (except TIR) will directly impact the compensation of executives and all company employees in 2022.

In our Strategic Plan 2022-2026, we reinforce the 10 sustainability commitments that guide our main actions and goals in this area.

  • Reduction of total operational absolute emissions by 25% by 2030

  • Zero routine flare burning by 2030

  • Rejection of ~ 40MM ton CO2 by 2025 in CCUS projects

  • 32% reduction in carbon intensity in E&P until 2025 ( 15kgCO2e/boe, maintained until 2030)

  • 40% reduction in the intensity of methane emissions in the E&P segment by 2025

  • 16% reduction in carbon intensity in the refining segment by 2025, expanding to 30% by 2030 (30 kgCO2e/CWT)

  • 50% reduction in fresh water collection in our operations by 2030

  • Zero growth in the generation of process waste until 2025

  • 100% of Petrobras facilities with a biodiversity action plan by 2025

  • Investments in socio-environmental projects, human rights programs, community relations, and the solution of social and environmental problems, involving opportunities to work together with our stakeholders and customers of Petrobras products

  • *Carbon commitments have a base year of 2015. Other commitments have a base year of 2018.

ESG themes are part of the Company’s Senior Management agenda, through 2 committees: the Executive Committee for Safety, Environment and Health (SMS), one of the committees that advise our Executive Board and is formed by executives from the corporate and operational areas. ; and the HSE Committee, which supports the Board of Directors, composed of directors and external members.

In our search for excellence we use reports and market indexes as a reference for best practices. Based on them, we map the existing gaps in our management and elaborate specific action plans to eliminate them.

HSE and Social Responsibility Policies

Our safety, environment, energy efficiency and health activities are guided by a policy that includes topics such as education, training and commitment of the workforce, among others. Check out our Safety, Environment and Health Policy here.

In addition, we provide the energy that moves society to realize its potential, respecting human rights and the environment, relating responsibly to the communities in the places where we operate and overcoming the sustainability challenges related to our business, including the transition for a low carbon energy matrix. Get to know our Social Responsibility Policy here

Environment, Safety and Health Policy

Social Responsibility Policy

Support for principles and initiatives

  • We have been signatories to the Global Compact of the United Nations (UN) since 2003 and we guide our activities in accordance with its ten principles.

  • We participate in the Brazilian Government's Gender and Race Equity Program, which aims to promote equality between men and women in the labor market.

  • Also in the context of climate change, in 2019 we announced our support to the Task Force for Climate-related Financial Disclosures (TCFD), an initiative of the Financial Stability Board of the G20, a group formed by the 19 main economies in the world plus the European Union, with the mission of developing recommendations for the disclosure of financial risks related to climate change.

  • We are members of the Oil and Gas Climate Initiative (OGCI), an organization formed by the presidents of the world's top ten oil and gas operators. OGCI aims to increase the scope, speed and scale of actions taken by individual companies to reduce greenhouse gas emissions in their oil and gas activities.

Last updated on February 11, 2021.