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Strategy
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Sustainability strategy and performance
Our Strategic Plan 2023-2027 (SP 2023-27) was prepared preserving the company's vision, values, and purpose.
SP 2023-27 proposes a set of strategies aimed at an effective contribution to a prosperous future, such as:
- deliver sustainable results for a society in transition, by acting in business with social and environmental responsibility, safety, integrity, and transparency;
- maximize portfolio value, with a focus on deepwater and ultra-deepwater assets;
- operate with assets focused on proximity to the oil supply and the consumer market, adding value to refining facilities with more efficient processes and new products, moving towards a low-carbon market;
- operate competitively in the sale of oil and oil products, maximizing the capture of value through the integration and safe and efficient operation of the upstream and downstream logistics chain; and
- innovate to generate value in our businesses, today and in the future, and achieve decarbonization goals.
Our ESG positioning
The commitments related to each of the four main ideas of the mandala were consolidated into a single list, in line with the concept of integrated ESG (the commitments that indicate a reduction percentage are based on 2015):
[2] Regarding absolute emissions, Petrobras' commitment seeks to maintain the level of emissions in 2030 in relation to 2022 when we consider the emissions related to the average thermoelectric dispatch of the last 5 years in this year's projection. Petrobras' commitment is not to exceed 54.8 million tons of CO2 in 2030, unless there is a strong demand for electricity generation from thermal plants due to national water stress events. Achieving this commitment considers the possibility of using carbon credits as a complementary strategy and depends on actions to gain efficiency and divestments provided for in SP 2023-27.
[3] Our ambition refers to emissions within Brazilian territory, where more than 97% of our operational emissions occur. For the other emissions, we also aim for neutrality within a period compatible with the Paris Agreement, in line with local commitments and international organizations.
[4] In relation to 2021.
[5] Reuse, recycling, and recovery.
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