Petrobras Publishes 2023 Sustainability Report

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(Petrobras, 10.Jun.2024) — Petrobras published its 2023 Sustainability Report. The document reports on progress in the company’s sustainability commitments and consolidates indicators related to environmental, social and governance (ESG) issues.

This year, an ESG Panel was also published, which brings together quantitative data, including the performance of indicators following the international standards Global Reporting Initiative (GRI Standards 2021) and Sustainability Accounting Standards Board (SASB). 

Considering the ideas behind the ESG positioning of the 2024-2028+ Strategic Plan, the company divided the Report into four dimensions: Acting with Integrity; Reducing the Carbon Footprint; Protecting the Environment; and Caring for People. For each of these four dimensions, a set of drivers was identified to guide the related actions, projects, programs and commitments.

Acting on Integrity 

Among the commitments related to Corporate Integrity, we highlight diversity actions in the indication of shareholdings, as well as integrity and human rights targets and other ESG aspects in the supply chain. One of the targets is the implementation of Human Rights Due Diligence in 100% of relevant suppliers by 2030. The report also highlights the scope of training in integrity, including training in preventing and combating discrimination, moral harassment and sexual violence, which was completed by 97.6% of the company’s employees. 

Reducing Carbon Footprint 

The Sustainability Report highlights the 41% reduction in absolute operational greenhouse gas (GHG) emissions between 2015 and 2023, as already disclosed in the Climate Change Supplement. There was also an injection of 13 million tCO2, the highest figure recorded in a single year. 

The document reinforces the commitments already expressed by Petrobras to neutralize emissions (scopes 1 and 2) in activities under the company’s control by 2050 and to influence partners to achieve the same ambition in non-operated assets.

Protecting the Environment 

The report highlights that, in 2023, Petrobras reduced freshwater withdrawal in its operations by 24% compared to 2021. The goal is to achieve a 40% reduction by 2030. Last year, the total volume of reuse was 35,800 megaliters, enough to supply a city of approximately 650,000 inhabitants for a year. Petrobras estimates that the reuse actions represent an annual saving of approximately R$16 million in water collection costs. 

The report also includes investments in environmental projects with society, including mandatory and voluntary ones, which totaled R$505mn in 2023. Voluntary projects monitor, study or protect more than 570 species of fauna, 82 of which are threatened with extinction. In addition, these projects worked on the recovery or direct conservation of approximately 350,000 hectares of forests and natural areas in the Atlantic Forest, Amazon, Caatinga and Cerrado.

Caring for People 

In the social area, we highlight voluntary social projects for sustainable economic development and education; sponsorship of culture, sport, business, science and technology; donations; and projects to mitigate and compensate for socio-economic impacts. The investment reached R$311mn, which, added to the environmental investment, exceeds R$800mn in programs and projects aimed directly at society. 

The report also highlights the launches of the Petrobras Program Against Sexual Violence and the Petrobras Racial Equity Program, which aim to create a better working environment and estabish initiatives to strengthen an inclusive culture. The company currently has 22.1% women and 22.2% blacks in management positions. The goal is to reach 25% of women and 25% of black people in leadership positions by 2030. 

The complete 2023 Sustainability Report can be found on the Petrobras Investor Relations website. 


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