Today, Petrobras’ hollow ESG promises. What lies beneath Brazil’s spectacular quarterly growth. And a make-or-break trial for Bolsonaro.
Petrobras goes green. Or does it?
Brazilian state-controlled oil and gas giant Petrobras presented its investment plan for the 2021-2025 period, including an apparently bold pledge to reduce greenhouse gas emissions by 25 percent as of 2030. While the announcement suggests the company might be coming to terms with the zeitgeist and adopting ESG (environment, social, governance) principles, a closer look indicates that Petrobras could simply be trying to greenwash its brand.
Behind the curtain. Petrobras’ emission reduction goals are based on...