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Petrobras

Petróleo Brasileiro (Petrobras) is a partly state-owned company headquartered in Brazil that explores and produces oil and natural gas and refines, markets and supplies oil products. Petrobras operates oil tankers, distribution pipelines, marine, river and lake terminals, thermal power plants, fertilizer plants and petrochemical units. In 2022, its revenue was USD 124 billion and it employed over 45,000 people.

Summary

Petrobras ranks 35th overall an 21st in the Extractives sector. It has fallen 9 places in its sector rank since 2019. The company performs relatively well on human rights practices and remedies an grievance mechanisms, but has an opportunity to improve on governance and policy commitments and embedding respect and human rights due diligence.

Petrobras discloses its board level process to review its human rights strategy, as well as its process to mitigate its salient human rights risks and track the effectiveness of this process. The company also discloses its approach to providing remedy for adverse human rights impacts which it has caused or contributed to.

The company has an opportunity to disclose how it monitors the implementation of its human rights policies as well as its corrective action process for non-compliance. It could also disclose how it involves affected stakeholders in its due diligence and grievance processes.

Ranking position: #35 /110
Total score: 28.7 /100

Measurement theme	Score	Rank (0-110)
Governance and policy commitments	#1 2.2 /10	#52
Embedding respect and human rights due diligence	#1 5.2 /25	#56
Remedies and grievance mechanisms	#1 7.5 /20	#15
Performance: Practices	#1 11.8 /25	#9
Performance: Responses	#1 2.1 /20	#69

Sector
Extractives	#21

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2020

This company is part of the SDG2000, the 2,000 most influential companies

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