Petróleo Brasileiro S.A. – Petrobras announces its ambition to achieve net zero greenhouse gas emissions from operations under its control (scopes 1 and 2), and its intention to leverage its influence to achieve the same in non-operated assets, in a timeframe compatible with that established by the Paris Agreement.
The decision is part of the strategy of the member companies of the Oil and Gas Climate Initiative (OGCI), of which Petrobras is a member. The CEOs of the member companies, therefore, direct a relevant part of the O&G industry towards mitigating the adverse effects of global climate change. With this new initiative, the members aim to achieve net zero emissions, recognizing that they have many, but not all, the answers as to how to get there.
Over the past 11 years, Petrobras has improved its carbon efficiency in exploration and production by 47%, and is currently one of the most efficient oil and gas producers in the world. We have established a set of sustainability commitments with a 2025/2030 horizon, including a target to reduce our absolute operating emissions.
This announcement shows our intention to continue this trajectory, contributing to the Paris Agreement and maintaining our competitiveness as a low-cost, low-carbon producer.