ABOUT IT
The Carbon Neutral Program is a comprehensive Petrobras initiative that supports our main decarbonization actions towards carbon neutrality and covers all Petrobras operations in Brazil. It aims not only to strengthen Petrobras' low-carbon position but also to accelerate and reduce the costs of decarbonization solutions, bringing competitiveness to the company.
The program has a dedicated decarbonization fund. The governance of both the decarbonization program and the fund involves the analysis of opportunities and prioritization of decarbonization alternatives, using criteria such as the Marginal Abatement Cost, total value of GHG avoided, technological readiness, project phase, among others. We also consider the assessment of the Net Present Value of the alternatives assuming the price of carbon in this specific governance.
The project is still being executed
The project has gold seal certification from the GHG Protocol Program.
Methodologies used in the calculation protocols of our corporate GHG inventory:
- American Petroleum Institute Compendium of Greenhouse Gas Emissions Methodologies for the Oil and Natural Gas Industry, 2009
- Brazil GHG Protocol Programme
- Canadian Association of Petroleum Producers, Calculating Greenhouse Gas Emissions, 2003
- IPCC Guidelines for National Greenhouse Gas Inventories, 2006
- IPIECA's Petroleum Industry Guidelines for reporting GHG emissions, 2nd edition, 2011
- ISO 14064-1
- The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (Revised Edition)
- The Greenhouse Gas Protocol: Scope 2 Guidance
- ARPEL Guidelines - Atmospheric Emissions Inventories Methodologies in the Petroleum Industry (1998) / US EPA AP-42: Compilation of Air Emissions Factors / )
- Transmission segment CH4 emission factors for non routine activities GRI/EPA study
- ARPEL - Atmospheric Emissions Inventories Methodologies in the Petroleum Industry
Results and Objectives
The Carbon Neutral Program aims to contribute to Petrobras' ambition of becoming neutral in GHG emissions considering its operations and energy consumed within a period compatible with the Paris agreement. In addition to this long-term objective, the Program contributes to the company's Carbon Commitments (relative to the 2015 base):
- Reduction of 25% in absolute operational emissions by 2030.
- Zero routine burning by 2030, according to the World Bank's zero routine burning initiative.
- Reinjection of 40 million tons of CO2 by 2025 in Carbon Capture, Utilization and Storage ("CCUS") projects.
- Reduction of 32% in carbon intensity in the upstream segment by 2025 (15 kg CO2e/boe, maintained until 2030).
- Reduction of 40% in methane emission intensity in the upstream segment by 2025.
- 16% reduction in carbon intensity in the refining segment by 2025, expanding to 30% by 2030 (30 kg CO2e/CWT).
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