Petrobras announced its commitment to becoming carbon neutral, falling in line with the 12-member global oil and gas climate initiative (OGCI).
The company’s carbon-neutral target applies to its scopes 1 and 2 operations, which include greenhouse gas (GHG) emissions from company-owned and controlled operations, as well as indirect emissions from energy purchases from third-party suppliers.
Petrobras also pledged to work with its partners in non-operated areas to help them reduce emissions. The goal will be met “in a timeframe compatible with that established by the Paris Agreement”.
The company also said that it boosted carbon efficiency in exploration and production by 47% over the past 11 years. What is more, in its 2020 sustainability report, released in April, the company said it is targeting a 25% reduction in total emissions by 2030.
Petrobras will now invest $1bn to reduce its carbon footprint during the 2021-25 period, according to its most recent five-year plan.
