Petroleo Brasileiro (Petrobras)
Petróleo Brasileiro SA (Petrobras) is a publicly listed fully integrated oil and gas company headquartered in Brazil, with 36.7% owned by the government of Brazil. In 2020, it had USD 5.28 billion in revenue and a reported 46,416 employees*. Petrobras continues to focus on oil and gas activities, with limited intention to initiate a large-scale transition to new low-carbon business activities such as renewable electricity.
- Ranking position
- #37 /100
- Total score
- 7.9 /100
- Performance score
- 3.3 /20
- Narrative Score
- ABCDE
- Trend Score
-
- Trend line is up
- Trend line is equal
- Trend line is down
Leading practices
No leading practices were identified for this company.
Risks and opportunities
Trend
Petrobras receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. Petrobras’ current fuel and sold product mixes are not sufficient to drive alignment with the company’s 1.5°C pathway. The limited ambition of its scope 1 and 2 emissions reduction targets and the lack of a scope 3 emissions reduction target suggest that the company’s performance is unlikely to improve.
Petrobras’ investment plans still focus on oil and gas activities. While it does have a small renewable electricity business, the company has limited deployment plans to scale this up and achieve the level of change required for a low-carbon transition in line with a 1.5°C scenario.
Progress towards the Paris Agreement
See results for
More about the company
- Headquarters
- Rio de Janeiro, Brazil
- Group revenue
- RRL 27,400,000,000 (USD 5.28 billion)
- Ownership structure
- Publicly listed with 36.7% owned by the government of Brazil
- Number of employees
- 46,416
- Scope of activity
- Fully integrated
- Website
- https://www.petrobras.com.br/