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Petrobras Files 2019 Sustainability Report

Source: www.gulfoilandgas.com 6/10/2020, Location: South America

Petrobras has filed its 2019 Sustainability Report In addition to presenting Petrobras' operational, economic, social, environmental, and governance performance in 2019, the report also includes data regarding the first months of 2020, especially regarding the effects of the Covid-19 pandemic on the company and the oil industry.

Among other highlights, the report presents the initiatives to decarbonize Petrobras' operations, with targets and actions to reduce CO2 emissions and increase carbon capture. In this sense, Petrobras' Exploration and Production segment has reduced its carbon intensity by more than 40% in the last 10 years, which means less emissions per barrel of oil equivalent produced, placing Petrobras in second place among the sector's major companies that emit less in the world.

The report was developed following the Global Reporting Initiative's (GRI Standards) methodology for sustainability reporting and, in addition, the Oil and Gas Industry Guidance on Voluntary Sustainability Reporting of IPIECA, which is the global oil and gas industry association for environmental and social issues. The methodology indicators were correlated with the Global Compact Principles and the United Nations' Sustainable Development Goals (SDG).

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