Petrobras Publishes its 2020 Sustainability Report

Source: www.gulfoilandgas.com 4/1/2021, Location: South America

Petrobras informs that it published its 2020 Sustainability Report. In addition to presenting its operating, economic, social, environmental and governance performance, the report shows Petrobras’ advances in environmental and social indicators and the support in the fight against the effects of the Covid-19 pandemic on Brazilian society, thus expanding the commitment to sustainability.

The concern with employees' health and safety is also one of the highlights of the report. In 2020, no fatalities were recorded in the operations, and the recordable accident rate per million worker/hour reached 0.56, a new benchmark for the global oil industry.

In the chapter on climate changes, the company reports its 2020 advances, such as the 5% reduction in absolute greenhouse gas emissions compared to 2019, consolidating a downward trend in recent years. Petrobras achieved 97% of gas use in the E&P area and reinjected about 7 million tons of CO2 separated from the gas produced in the pre-salt fields, reaching an accumulated total of 21.4 million tons of CO2 reinjected since 2008. In the refining segment, the highlight was the continuous improvement in the carbon intensity indicator, down by 3.6% from the previous year. Additionally, the Biorefino 2030 program was created, which provides for projects for the production of a new generation of more modern and sustainable fuel, such as renewable diesel and biojet fuel.

The report presents Petrobras's support for social, environmental, cultural, sports and business, and science and technology projects, which in 2020, totaled R$120 million. It also underscores the company's voluntary support for projects focused on the recovery or direct conservation of forests and natural areas and that, among other benefits, promote carbon fixation and avoid greenhouse gas emissions.

The document details Petrobras' support for actions in the fight against Covid-19, through the donation of tests, hospital and hygiene supplies, fuel for ambulances and hospital vehicles and food for low-income families, among others. The document also presents the company’s financial donations of R$25.5 million in 2020 in response to Covid-19 and other situations of public calamity in Brazil.

The Report addresses Petrobras' advances in favor of human rights, including the publication, in June, of the Human Rights Guidelines and the launch of the updated Gender Equity Plan.

The company also approved the new Code of Ethical Conduct, which unified the Code of Ethics and the Conduct Guide. The document represents another step towards strengthening a culture of integrity, as well as the Guide to Ethical Conduct for Suppliers, also disclosed in 2020. Still last year, the World Economic Forum announced Petrobras' return to the Partnering Against Corruption Initiative (PACI), which recognizes efforts to promote transparency and fight against corruption in recent years.

The report was developed based on the sustainability reporting methodology of the Global Reporting Initiative (GRI Standards), as well as the Oil and Gas Industry Guidance on Voluntary Sustainability Reporting of IPIECA, a global oil and gas industry association for advancing environmental and social performance. The methodology indicators correlated with the Global Compact Principles and the Sustainable Development Goals (SDGs) of the United Nations.


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