Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 121

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 121
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 albeit at an uncertain pace.                                                                                              
We strive to ensure that risks                                                                                                              We aim to maintain our operations                                                                                                             We believe that balancing                                                                                                                    
and opportunities of climate change are adequately captured in our scenarios, quantified, and considered in our choices, seeking business   on a decreasing emissions trajectory with lower carbon intensity than other companies, safeguarding the competitiveness of our oil in         a focus on oil and gas activities with portfolio diversification into low-carbon businesses is the most effective path for a Just transition.
sustainability and value creation for all stakeholders.                                                                                     world markets in a scenario of slowdown and subsequent contraction in demand.                                                                                                                                                                                                              
The variable compensation                                                                                                                   We focus on continuing to                                                                                                                                                                                                                                                                  
of all company’s employees incorporates performance linked to carbon intensity commitments in our operations, promoting employee            supply oil and gas in a competitive and environmentally manner, to meet persistent demand for oil compatible with the goals of the Paris                                                                                                                                                   
engagement in achieving expected results.                                                                                                   Agreement.                                                                                                                                                                                                                                                                                 
We follow the recommendations                                                                                                                                                                                                                                                                                                                                                                                                          
of TCFD for climate-related disclosures, promoting carbon transparency for all stakeholders.                                                                                                                                                                                                                                                                                                                                           
Our inventory has been published                                                                                                                                                                                                                                                                                                                                                                                                       
voluntarily since 2002 and verified annually by a third party since 2003, representing our pioneering spirit in GHG management.                                                                                                                                                                                                                                                                                                        

Annual Report and Form 20-F 2024 |

All our projects must be profitable in our scenario which provides an accelerated energy transition with a significant reduction in the price of fossil fuels, assuming a value of crude oil of US$45 per barrel in the long term.
 As described in the “Strategic Plan 2050 and Business Plan 2025-2029” section of this report, we outline the same six commitments related to carbon emissions found in our previous plan.
 Our ambitions associated with reducing the carbon footprint include the pursuit of operational emissions neutrality by 2050, achieving the "Near Zero Methane 2030" ambition aligned with best industry practices, and achieving an operational emissions net neutral growth by 2030, maintaining 2022 emission levels (a 40% reduction since 2015), while simultaneously considering the increase in production and activities planned in the Business Plan 2025-29.
 We are committed to continuing to improve the GHG emissions efficiency of our E&P activities.
 In oil and gas projects, fields naturally mature over time, leading to a progressive increase in water production and energy demand, as well as a decline in oil production rates. Consequently, as productions