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» Petrobras Group Code of Ethics is Our Way of Being
During the Petrobras Group's Code of Ethics review process, seminars were held at several company units and subsidiaries, and a suggestion channel was opened on the Internet through which everyone had a chance to give their opinions and suggest improvements.
You will now be introduced to Petrobras Group's Code of Ethics. Please, read on.
Word from the President
The Petrobras Group publicly discloses its Code of
Ethics. The present version results from a wide review,
carried out through a participative and representative
process that has involved employees from
several Units of the Group, be it by means of professional
development seminars or electronically.
The purpose of this Code of Ethics is to clearly de-
fine the ethics principles that guide the actions and
conduct of the Petrobras Group, institutionally and
in relation to its employees. In doing so, the Code
makes the ethical meaning of the Group's Mission,
Vision, and Strategic Plan explicit.
In an effort to bring speech and practice together,
this Code of Ethics is also a public commitment by
the Petrobras Group to transform these principles
into effective, concrete everyday practices.
In so doing, the Petrobras Group aligns itself with
the best practices of similar companies in the international
market. These practices are characterized
by the endeavor to do the best toward sustainable
development and to render economic undertakings
initiatives that bring environmental, social, cultural,
and ethical development to societies. In this sense,
this Code of Ethics can also be considered an extension
of Petrobras' adherence to the UN's Global Pact
of October 2003.
I am convinced that the public presentation of this
Code of Ethics and its fulfillment shall contribute
to strengthen a new business culture, tuned with
sustainable development, coupled with social and
environmental responsibility, in Brazil and in other
Countries where the Petrobras Group operates.
José sergio Gabrielli de Azevedo
President of Petrobras
José Sergio Gabrielli de Azevedo
President of Petrobras
Ethics Principles of the Petrobras Group
- Respect for life and for all human beings,
integrity, truth, honesty, justice, equity, institutional
loyalty, responsibility, care, merits,
transparency, legality, impersonality, and
coherence between speech and practice
comprise the ethics principles that guide the
actions of the Petrobras Group.
- Respect for life in all its forms, manifestations
and situations is the fundamental ethics
principle that guides the concern with quality
of life, health, environment, and safety in the
Petrobras Group.
- Honesty, integrity, justice, equity, truth, coherence
between speech and practice in the relationship
with people and institutions: These
principles are made evident in the Petrobras
Group's respect for differences and diversity of
ethnic, religious, social, cultural, linguistic, political,
aesthetic, age, physical, mental and psychical,
gender, sexual, and other orientations.
- Employees' loyalty to the Petrobras Group
is made evident by their responsibility, discipline,
and care for their work, all human
beings, and the Group's material and nonmaterial
asset; by their fulfillment of the
Group's Mission, Vision and Values; by a
business conduct geared to the accomplishment
of the Group's Corporate Strategy and
moved by the spirit of enterprise, committed to overcoming challenges.
- Transparency is expressed by the Group's respect
for public interest and all stakeholders
and its accomplishment strictly observes the
rights to personal privacy and the Information
Security Policy of the Petrobras Group.
- Merit is the decisive criterion for all forms
of acknowledgment, reward, evaluation and
investment in people, with favoritism and
Nepotism being unacceptable in the Petrobras
Group.
- Legality and impersonality are constitutional
principles that enforce the legal order and
define the distinction between personal
and professional interests in the conduct
of members of the Board of Directors, Audit
Councils, and Executive Boards, and of employees
of the Petrobras Group.
- The Petrobras Group commits itself to
respecting and valuing people in their diversity
and dignity and to fair work relationships,
in a healthy environment, with mutual
confidence, cooperation, and solidarity.
- The Petrobras Group develops its business
activities acknowledging and valuing the
interests and rights of all its stakeholders.
- The Petrobras Group acts proactively in
the search of growing levels of competitiveness,
excellence and profitability, allied
with social and environmental responsibility,
contributing toward the sustainable
development of Brazil and of the countries
where it operates.
- The Petrobras Group aims at excellence
in quality, safety, environment, health and
human resources. For that purpose, it promotes
the education, professional development
and commitment of its employees,
involving them in the process.
- The Petrobras Group acknowledges and
respects the legal, social and cultural particularities
of the several contexts, regions
and countries in which it operates. To do
so, it always adopts the highest standards
to maximally comply with rights, the law,
and internal rules and procedures.
Code of Business Conduct of the Petrobras Group
- " In practicing Corporate Governance, the Petrobras Group commits itself to:
- seeking the balance of power among Senior
Management (Management Councils
and Executive Boards) and shareholders,
including minority ones, taking into account
the compatibility of the Group's strategic
objectives with the interests and rights of
all stakeholders;
- carrying out its business with transparency
and integrity, cultivating credibility with its
shareholders, investors, employees, suppliers,
customers, consumers, public authorities,
press, communities where it operates
and society at large, and aiming at reaching
development and profitability, aligned with
social and environmental responsibility;
- encouraging all stakeholders, both internal
and external, to disseminate the ethics
principles and commitments expressed in
this Code of Ethics;
- grounding the relationship with its competitors
on principles of honesty and respect by adopting
explicit and stated rules of competition;
- promoting honest and fair negotiations, without
receiving improper advantages by means
of manipulation, use of privileged information,
and other practices of such nature;
- recording its reports and statements in a
correct, consistent, accurate and complete
manner, without ambiguity of information,
and making its books available to internal
and external audits and to the relevant public
bodies under full transparency;
- producing a Social and Environmental Annual
Statement, with wide internal participation,
where it explains its actions toward environmental,
social and cultural promotion and development,
as well as the environmental, social
and cultural consequences and impacts
of its activities;
- maintaining clear, true and correct communication,
easily understandable and accessible
to all stakeholders, as well as publicity
that is grounded in the principles established
in this Code of Ethics;
- keep Ombudsmanships as formal channels,
among others, for receiving, forwarding
and processing opinions, suggestions,
complaints, critics and charges against
ethical breaches from the various public
relationships of the Group, within the laws
of the countries in which it operates;
- complying and causing the compliance with
this Code of Ethics by means of management
and monitoring resources, both at the corporate
and local scopes, disclosing this Code
permanently to clarify questions and receive
suggestions, and submitting it and its practices
to periodical evaluation processes.
- In its relationship with Employees, the Petrobras Group commits itself to:
- promoting work conditions that allow the
balance among the professional, personal
and family lives of all employees;
- assuring safety and health in work, making
all the required conditions and equipment
available for this purpose;
- making formal hearing channels available
for receiving and processing suggestions to
improve internal management processes;
- assuring the availability and transparency
of information that affects its employees,
protecting the entitlement to privacy upon
handling medical, functional and personal
information relevant to them;
- acknowledging its employees' right to free
association, respecting and valuing their
participation in unions and not performing
any kind of negative discrimination against
unionized employees;
- seeking to reconcile interests and assure
the rights of employees, on a permanent basis,
through institutional business channels,
in the Group's relationship with union entities
that represent the employees;
- assuring its employees´ the right of refusal,
accepting the interruption of their activities,
after the corrective measures had been taken
and the facts had been informed to their
immediate hierarchical superior, in case of
any event of severe and imminent risk to
their lives or physical integrity or of their coworkers;
- respecting and promoting diversity and
fighting against all forms of prejudice and
discrimination, by means of a clear policy
of recruiting and selection, training, career
promotion, promotion to positions, and dismissal.
No employee or potential employee
shall receive discriminatory treatment resulting
from its race, skin color, ethnic origin,
nationality, social position, age, religion,
gender, sexual orientation, personal aesthetics,
physical, mental or psychical status,
marital status, opinion, political conviction or
any other individual differentiation factor;
- promoting equal opportunities for all employees,
in all policies, practices and procedures,
using as exclusive criterion for professional
promotion individual merits based
on performance evaluations; at the same
time, the Group assures the employees' right
to know and be represented in the preparation
of their professional evaluation and career
progression criteria;
- developing a business culture that values interchange
and dissemination of knowledge,
promote the continuous development of its
employees, and avoid dismissals, whenever
possible, by looking for technical and
scientific re-qualification and replacement
alternatives appropriate to the employees'
situation, in whatever hierarchical level;
- providing institutional guarantees and protecting
the confidentiality of all parties involved
in ethic complaints to preserve their
rights and protect decision neutrality;
- preparing its employees for retirement to
invest in the maintenance of their quality
of life, by developing systematic instruction
and counseling activities, involving relatives
in the discussion of psychological aspects
and financial planning, and promoting the
internal transmission of knowledge to preserve
the memory of the Group.
- In their relationship with the Petrobras Group, Employees commit themselves to:
- performing the duties of their work contract,
with their best effort, technical quality and
diligence, taking advantage of permanent
professional development opportunities and
systematically evaluating and learning from
their own and others' failures;
- acting in an honest, fair, respectable, courteous
way, being solicitous with all to whom
they relate both internally and externally,
respecting any individual differences;
- using internal channels properly to express
opinions, suggestions, complaints, critics
and charges, engaging in the improvement
of the Group's processes and procedures
continuously;
- refraining from getting involved in any activity
that conflicts with the interests of the
Petrobras Group and reporting to hierarchical
superiors or to Ombudsmanships any
situation that apparently or potentially may
result in conflicts of interest;
- respecting professional confidentiality, except
when otherwise authorized or required
by law, to preserve the Group's interest
whenever they manifest themselves in both
public and private environments, zealously
making sure that all parties also do it;
- keeping confidential strategic information and
related relevant acts or facts that have not yet
been disclosed to the market, as well as making
sure that others also do it, except when
otherwise authorized or required by law;
- ensuring proper use of the Petrobras
Group's material and immaterial asset by
complying with its legitimate purpose, including
the preservation of the image and
reputation of the companies that comprise
it and refraining from using the asset
to get any kind of personal advantage;
- refraining from obtaining any improper
advantages that result from their functions
or positions in the Petrobras Group;
- refraining from performing or submitting
themselves to acts of prejudice, discrimination,
threat, blackmail, false testimony, moral
harassment, sexual harassment, or any act
contrary to the principles and commitments
of this Code of Ethics, as well as immediately
denouncing any violation against it;
- respecting intellectual property and acknowledging
the merits of projects developed
by colleagues, irrespectively of their
hierarchical position;
- zealously observing, while exercising their
right to go on a strike, the defense of life,
physical integrity and safety of people and
facilities, as well as the preservation of the
environment;
- refraining from soliciting, suggesting, accepting
or offering any kind of favor, advantage,
benefit, donation, gratification,
for themselves or for any other person, as
counterparts for their professional activities,
being allowed to accept or offer only promotional,
public, non-exclusive offers devoid of
any commercial value, in their relationship
with the Group's external public;
- cultivating looks and attire consistent with
the institutional and cultural environment
where they work.
- In its relationship with Suppliers, Service Providers and Trainees, the Petrobras Group commits itself to:
- making available the same healthy and safe
working conditions it fosters for its own employees
for the service providers' employees
and the trainees of the Petrobras Group
while they perform their duties at the Group's
facilities, keeping for itself the right to manage
knowledge and information security of
the Group;
- requiring that Service Providers make their
employees comply with the ethics principles
and commitments defined in this Code, while
their contracts with the companies of the
Group last.
- selecting and hiring suppliers and service
providers based strictly on legal and technical
quality, cost and punctuality criteria, requiring
from them an ethics profile made of
their social and environmental responsibilities,
as well as their management practices,
including those along their productive chain,
refusing practices that involve unfair competition,
child labor, forced or compulsory labor,
and other practices that go against this
Code principles;
- demanding from the trainees that they respect
the ethics principles and commitments
defined in this Code, while their contracts
with the Group's companies last;
- In its relationship with Customers and Consumers, the Petrobras Group commits itself to:
- offering good quality products and services,
with advanced technology and a standard of
customer service that is clear, efficient, effective,
kind and respectful and that aims at
customers' and consumers' full satisfaction,
for the upkeep of long-term relationships;
- compensating consumers and customers
promptly and within a reasonable time for
possible losses from damage incurred under
its responsibility.
- In its relationship with the Environment, a token of its responsibility for current and future generations, the Petrobras Group commits itself to:
- carrying out its business and activities with
social and environmental responsibility, contributing
to environmental sustainable development;
- keeping standards of excellence in environment
protection to assure services and
products aligned with customers' expectations
and to comply with the Brazilian environmental
law as well as that of the countries
where it operates;
- contributing to the preservation and recovery
of biodiversity, by managing the potential
impacts of its activities and projects
geared to the protection of endangered
areas and species;
- clearly defining its environmental sponsorship
policies and programs, with budget
allocation and management resources that
assure transparency and allows participation
in its development;
- developing programs that aim at maximizing
its energetic efficiency and the use of renewable
energies, aligning the Group's interests
with sustainable development in the countries
in which it operates;
- investing in the sustainability of its projects,
products and services, maximizing the benefits
they bring to economic, social and environmental
spheres, minimizing their adverse
impacts, and monitoring the entire lifetime of
its facilities, operations, and products;
- promoting the sustainable use of water, oil,
natural gas and energy; the decrease in consumption;
material recycling; the reduction
of solid residues production; and issuance of
pollutant gases;
- keeping an environmental management
group for the continuous improvement of its
processes, including the productive chain,
and promoting internal and external actions
for environmental awareness;
- identifying, evaluating and managing its environmental
liabilities to act preventively and
correctively to solve the problems which
have caused them;
- promptly reporting to its consumers, customers,
community and society any possible environmental
damage, in the case of accidents;
- providing its consumers, customers, community
and society with information about
possible environmental damages that resulted
from product misuse and about the
- In its relationship with communities at large, the Petrobras Group commits itself to:
- keeping communication and dialogue channels
with the community in which it operates
permanently open, in order to prevent, monitor,
evaluate and control the impacts of its
activities;
- developing and implementing projects together
with the local entities, forming work teams that
include community members to cultivate long
term partnerships and capacitate leaderships,
considering their demands and expectations
and respecting their diversity;
- adopting a clear and democratic sponsorship
process by means of public selection of social,
environmental, and cultural projects;
- promoting its employees' voluntary initiatives
in order to mobilize and potentialize its
resources and competences in an integrated
and systemic manner, for the benefit of
the communities in which it operates;
- promptly compensating people and communities
for possible losses or damages under
the Group's responsibility.
- In its relationship with Society, the Government and the State, the Petrobras Group commits itself to:
- acting toward the economic, technological,
environmental, social, political and
cultural development of Brazil and of the
countries in which it operates;
- exercising social influence over all contexts,
as part of its economic, environmental, social,
political and cultural responsibility towards
Brazil and the countries in which it operates;
- contributing with the public authorities to the
development and execution of general public
policies and specific programs and projects
dedicated to sustainable development;
- valuing the involvement and commitment of
its employees, in debates and development
of proposals, aiming at the feasibility and
strengthening of socially-oriented projects
in joint actions with public and private organizations,
whether governmental or nongovernmental;
- promoting social awareness and active citizenship
among all its employees, through its
institutional example and the development of
educational programs for citizenship;
- promoting and sponsoring projects for the
development of research and technology
geared toward sustainable development,
actively interacting with the academic and
scientific communities;
- making partnerships with educational institutions
for the development and improvement
of human resources in the oil, natural
gas and energy sector;
- refusing any corruption and bribery practices
and keeping formal control and disciplinary
procedures for any possible violation of this
principle;
- refusing to support and contribute with
political parties or political campaigns of
candidates to elective positions;
- accepting and contributing with Public Authority
inspections and controls.
- accept and contribute with Public Authority inspections and controls.
Further Provisions
- This Code of Ethics encompasses all members
of the Management Councils, Audit Boards,
Executive Members, holders of management
positions, employees, trainees and service
providers of the Petrobras Group, constituting
an individual and collective commitment of
each and all to comply and cause compliance
with it, in all actions of the Petrobras Group
productive chain and in its relationships with
all stakeholders.
- The Petrobras Group's employees shall become
formally aware of this Code, which
shall be widely disclosed, both in print and
electronically.
- Violation to the principles and commitments
present in this Code may imply the adoption
of disciplinary measures, according to the
rules of the companies that comprise the
Petrobras Group.
- The Petrobras Group shall submit this Code
of Ethics to periodic reviews, with transparency
and the stakeholders' participation.
- The Ombudsmanships or officials eventually
responsible for processing complaints of
ethical violations shall preserve the anonymity
of the accuser to avoid retaliation against
the latter; they shall also inform him / her of
the measures adopted.
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