Petrobras

InfluenceMap Score
D
Performance Band
49%
Organisation Score
55%
Relationship Score
Modifications to InfluenceMap Scoring
Sector:
Energy
Head​quarters:
Rio de Janeiro, Brazil

Climate Lobbying Overview: Petrobras appears to have broadly negative, albeit limited, engagement with climate-related messaging and regulations. Petrobras does not appear fully supportive of ambitious climate action in its top-line messaging, and the company appears to support a sustained role for fossil fuels in the energy mix

Top-line Messaging on Climate Policy: Petrobras’ top-line messaging on climate policy appears to be mixed. In its 2019 Climate Change Supplement, published in October 2019, the company recognized the need to globally tackle climate change and referenced the science of the IPCC. However, the supplement also highlighted energy poverty and the need to expand access to energy and to increase energy security, which indicates support for a less urgent response to climate change. In the same supplement, Petrobras also highlighted the need for action by public policymakers and companies to avoid risks of substantial future losses from climate change, and stated its support for the Paris Agreement. However, former Petrobras CEO, Roberto Castello Branco, described the commitments made by similar energy companies to be net-zero by 2050 as a “fad”, adding that “On this side of the Atlantic we have a different view of climate change,” as reported by World Oil in December 2020.

Engagement with Climate-Related Regulations: Petrobras does not appear to disclose its engagement with climate-related regulations on its corporate website and did not respond to the CDP questionnaire in 2020.

Positioning on Energy Transition: Petrobras does not appear supportive of the energy transition. In its 2019 Climate Change Supplement, Petrobras stressed the benefits and the need for fossil fuels, highlighting energy security and access to energy. In its 2020 Sustainability Report, published in July 2020, the company appeared to question the feasibility of the energy transition due to growth and economic barriers. A December 2020 article from the Financial Times suggests that Petrobras believes that oil demand will continue to provide short to medium term profit, with a spokesman denying the company is in an ‘identity crisis’. This position appears to be reaffirmed by former CEO, Branco, who reportedly stated to World Oil in December 2020:“I believe oil will be in demand for a long period of time. It is still the backbone of modern society”. Additionally, in a separate article in December 2020, Branco reportedly described efforts by European oil and gas companies to increase their share in renewables as a “fad”. Finally, in April 2020, it was reported by Jornal do Comércio that Branco had opposed calls for increased contributions by oil producers to the CIDE fuel tax in the context of the pandemic.

Industry Association Governance: Petrobras lacks a dedicated disclosure of its industry association links. Its 2020 Sustainability Report includes vague information about its policy regarding engagement with trade associations, without naming any associations it holds a membership with. However, InfluenceMap has been able to discover that Petrobras is a member of International Association of Oil and Gas Producers, which has traditionally lobbied for a long-term role of fossil fuels in the energy mix.

Additional Note: The Brazilian government owns 64% of Petrobras. It is likely that Petrobras retains channels of direct and private engagement with Brazilian officials that InfluenceMap is unable to assess. As this is not publicly available information, it is not reflected in Petrobras's engagement intensity metric.

QUERIES
DATA SOURCES
Main Web Site Social Media CDP Responses Legislative Consultations Media Reports CEO Messaging Financial Disclosures
Communication of Climate Science
2 NS NS NA NS NS NS
Alignment with IPCC on Climate Action
0 NS NA NS NS -1 NS
Supporting the Need for Regulations
1 NS NS NS NS 0 NS
Support of UN Climate Process
1 NS NS NS NS NS NS
Transparency on Legislation
-2 NA -2 NA NA NA NS
Carbon Tax
NS NS NS NS NS 1 NS
Emissions Trading
NS NS NS NS NS NS NS
Energy and Resource Efficiency
0 NS NS NS NS NS NS
Renewable Energy
NS NS NS NS NS NS NS
Energy Transition & Zero Carbon Technologies
-1 1 NS NS -1 -1 NS
GHG Emission Regulation
NS NS NS NS NS NS NS
Disclosure on Relationships
-2 NS -2 NA NA NA NS
Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
51%
 
51%
 
64%
 
64%
 
39%
 
39%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.