Petrobras on Renewable Electricity Certificates

Petróleo Brasileiro S.A. – Petrobras informs that it has acquired international certification that ensures that 100% of the electricity used in its industrial and administrative operations in Brazil is generated by renewable sources. This seal – called I-REC certification (Renewable Energy Certificate) – attests that the electricity Petrobras acquires from external suppliers is generated exclusively by renewable sources, such as hydroelectric, wind, or solar energy.

The goal is to neutralize scope 2 emissions, a term used by the global industry for emissions associated with the consumption of energy obtained from an external supplier. The practice was incorporated by the company as of 2022. The certificates were acquired from the main companies that supply electricity to Petrobras: AES Brasil, CPFL Soluções and Cemig.

“The neutralization of Scope 2 emissions is an important milestone in our energy transition journey and shows that we are reaping concrete fruits from this journey in partnership with our suppliers. It is an advance that makes us proud, proving that we remain determined to lead the energy transition in Brazil, hand in hand with the national production chain and in tune with the demands of society,” said Petrobras CEO Jean Paul Prates.

The certificates are part of the first initiative in the portfolio of actions that counted with resources from Petrobras’ Decarbonization Fund. They cover 100% of the electricity purchased and correspond to the total scope 2 emissions of the company’s operations in Brazil in 2022.

“The acquisition of the certificates is aligned with our ambition of achieving operational emissions neutrality by 2050 and reinforces our commitment to the decarbonization of our operations, contributing to a safe energy transition,” says Petrobras’ Chief Energy Transition and Sustainability Officer, Maurício Tolmasquim.

Decarbonization Fund

The Petrobras Decarbonization Fund was created to support actions to decarbonize the company’s operations in the exploration and production, refining, gas and power, and logistics segments. Petrobras has the commitment to reduce its total operational emissions by 30% by 2030 and, in the long term, the ambition to neutralize its operational greenhouse gas emissions by 2050 and to influence partners to achieve this ambition.

About I-REC

The Renewable Energy Certificate (I-REC ) is a type of renewable energy certificate that represents the environmental attributes of generating one megawatt-hour (MWh) of energy from renewable sources. It consists of a global renewable energy attributes tracking system, designed to enable the reliable registration of energy from renewable sources. The certificate is used by specific customers for Scope 2 accounting purposes, in accordance with the most stringent international standards. 

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