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 generating shareholder value, with a focus on oil and gas and with 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; market orientation; overcoming and trust; and results.

We have 3 of our top 5 metrics in our Strategic Plan related to sustainability, showing our commitment to putting ESG issues alongside financial metrics.

Top metrics:

  • Intensity of greenhouse gas emissions (IGEE);
  • Leaked volume of oil and oil products (VAZO);
  • TAR (rate of recordable accidents per million man-hours);
  • Gross debt;
  • EVA® Delta

We maintain the TAR (recordable accident rate per million man-hour) indicator as the top metric for 2021, but we have adjusted the target below 0.7, reinforcing the company’s commitment to life. We continue to aim for zero fatality and insert the ambition of zero leakage.

These metrics (except TAR) are expected to directly impact the remuneration not only of executives, but of all company employees in 2021.

In our Strategic Plan 2021-2025, we made 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 2015 (15kgCO2e / boe, maintained until 2030)

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

  • 30% reduction in carbon intensity in refining by 2030

  • 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 and programs in human rights and community relations

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.