Petrobras Releases 2022 Sustainability Report

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by KnowESG
KnowESG_Petrobras 2022 sustainability report
Image courtesy of Freepik

Petrobras has officially published its 2022 Sustainability Report, a significant document that encompasses key information about the company's primary operations, management practices, performance indicators, and commitments regarding environmental, social, and governance (ESG) matters.

This year's report showcases notable achievements, including the support of various environmental projects that effectively conserved approximately 254,000 hectares of forests.

Another remarkable accomplishment is the substantial reduction of greenhouse gas emissions, which decreased by 39% from 2015 to 2022. This reduction aligns with Petrobras' commitment to achieving zero absolute operational emissions by 2050 and further emphasises its dedication to expanding activities in low-carbon businesses.

Notably, Petrobras is progressively expanding its involvement in low-carbon enterprises by venturing into new fields such as carbon capture, utilisation, and storage (CCUS), renewable energy, hydrogen, and biorefining. Concurrently, the company actively invests in nature-based solutions for mitigating climate change, with particular emphasis on preserving and expanding forests.

Furthermore, Petrobras extends its support to numerous initiatives aimed at preserving fauna, encompassing the monitoring and protection of 236 animal species. The company also exhibits a strong commitment to safeguarding marine biodiversity.

In 2023, Petrobras initiated its largest-ever public selection process for social and environmental projects, allocating an estimated investment of R$432 million. This groundbreaking initiative witnessed an overwhelming number of applicants, predominantly from the North and Northeast regions.

Within the socio-environmental sphere, two noteworthy project categories deserve attention: Education and Sustainable Economic Development. These initiatives directly benefit communities within Petrobras' operational areas.

In 2022 alone, these projects successfully trained and empowered over 25,000 participants, focusing on labour market education and measures to enhance the quality of education. Special emphasis was placed on early childhood interventions (0–6 years old), which entailed educational activities and efforts to mobilise and strengthen the protection network for the rights of children and adolescents across Brazil's diverse regions.

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Source: Petrobras

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