Petrobras aims to neutralize all emissions

The Brazilian oil company announced this Monday (20) its goal of neutralizing greenhouse gas emissions in operations under its control, following the deadlines of the Paris Agreement.

Agência Brasil

Rio de Janeiro – Petrobras announced on Monday (20) its ambition to achieve neutrality of emissions in activities under its control, within a period compatible with that established by the Paris Agreement, a treaty negotiated during COP21, in 2015, within the scope of the United Nations Framework Convention on Climate Change (UNFCCC).

The agreement provides for the adoption of climate policies aimed at reducing greenhouse gas emissions, limiting the average increase in global temperature to less than 2°C above pre-industrial levels by the end of the century, with efforts to 1.5°C. Pictured above, the Vale Sustentável project, sponsored by Petrobras.

According to the statement, Petrobras, Brazil’s largest energy company and a significant global player, is committed to transitioning to a low-carbon global economy. In its 2021-2025 Strategic Plan, the company estimates investments of USD 1 billion in sustainability commitments. The company also expressed its intention to influence its partners to achieve the same ambition in oil and gas extraction fields in which the company is a partner but not in charge of the operation.

“Petrobras’ decision is in line with the global positioning of the 12 member companies of the Oil and Gas Climate Initiative (OGCI), a consortium of which Petrobras has been a member since 2018. Together, these companies represent around 30% of global oil and gas production and are collaborating to accelerate the transition to low carbon. With this new initiative, members aim to achieve neutrality of emissions, recognizing they have many, but not all, answers on how to get there,” says the statement.

Translated by Elúsio Brasileiro

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