July 1, 2020
Petróleo Brasileiro S.A. – Petrobras announces that it is suporting the Task Force for Climate-related Financial Disclosures (TCFD), an initiative by the Financial Stability Board of the G20 group, which is comprised by 19 leading global economies and the European Union, with the mission of developing recommendations for the disclosure of financial risks related to climate change.
Petrobras’ vision on climate change is based on three pillars: transparency, resilience to the energy transition of its oil and gas position, and the strengthening of its capabilities in alignment with the low carbon economy. Our priority is to operate with low costs and low emissions, delivering affordable energy that adheres to our commitment towards reducing carbon emissions.
Reconciling society’s demand for oil and gas while addressing climate change concerns is an ethical requirement for the Company and part of its strategy and policies on safety, environment, health and social responsibility. It is also a business requirement that is in line with its stakeholders’ expectations.
Along with its support to the TCFD, Petrobras is making the updated Climate Notebook available on its website, a document that has become a reference for investors specialized in Environmental, Social, and Governance (ESG), with the objective to deepen and increase transparency of its sustainability information regarding its energy transitioning into a low carbon matrix.