Petrobras Honoured in Sustainability
25 February 08
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The survey, carried out by Management & Excellence (M&E), acknowledged Petrobras as the world’s most sustainable oil company. Ranked first, scoring 92.25%, the Company is seen as the global reference in ethics and sustainability. The analysis took 387 international indicators into account, among which reduced pollutant emissions and fewer oil leaks, lower energy consumption and a transparent vendor service system.
The ranking’s criterion consider adjustments made to international standards, such as those set forth by the International Labor Organization (ILO), by the UN’s Global Compact, and by the Millennium Development Goals (MDG). Furthermore, the study also takes being listed in the Dow Jones Sustainability Index, in addition to the company’s Social and Environmental Balance being presented pursuant to guidance provided by the Global Reporting Initiative (GRI) into account.
M&E is a Spanish consultancy firm that specialises in evaluating companies, banks, investment funds, market analysts and consultants. It is one of the most respected consultancies in the investor market and among the American, European and Latin American media. The survey was carried out directly at all of the companies and via the press. In the oil and gas industry segment, M&E evaluates performance in corporate governance, ethics, transparency, sustainability and social responsibility.
In the latest survey, published in 2007, Petrobras had ranked second, with a total score of 89.64% and only trailing Shell (90.16%). It was the company that rose the most among all participants and was singled out as the fastest grower among the world’s biggest oil sector companies in the past three years.
This outcome shows the company’s acknowledgement and commitment to government, transparency, social and environmental responsibility issues, to investor relations and to communications with all stakeholders.
