The Global Compact – October/2003
Petrobras has been a signatory to the Global Compact since 2003 and is in accordance with all ten principles of the pact. In April 2006, the General Secretary of United Nations, Kofi Annam, nominated the Petrobras CEO, José Sergio Gabrielli, to be part of Global Compact Board, of the ONU, whose Board is comprised of four constituency groups - business, civil society, labor and the United Nations - with differentiated roles and responsibilities apart from their overall advisory function.
For 2006-2008 Petrobras was nominated for two vice-presidencies of the Global Pact Committees, next to two other Brazilian entities, the Ethos Institute (which is president of one committee) and Bovespa (that is also vice-president).
Check out about the Global Compact ?
Partnering Against Corruption Initiative (PACI) - January/2005
The Partnering Against Corruption - Principles for Countering Bribery (“PACI Principles”) are the product of a task force constituted by member companies of the World Economic Forum in partnership with Transparency International and the Basel Institute on Governance. These Principles call for a commitment to two fundamental actions:
 a zero-tolerance policy towards bribery
development of a practical and effective implementation program.
At the January 2005 Davos Conference, Petrobras signed this commitment together with 61 other major international companies in the fields of energy, engineering and construction, and mining and steel. The Company has participated in the PACI meetings in Kuala Lumpur and Rio de Janeiro, the latter being hosted by Petrobras.
Pro-Gender Equality Program
On September 24 2007, the Federal Government and Petrobras formalized the onset of the second edition of the company's Pro-Gender Equality Program. The Program aims at promoting equal opportunities to men and women in companies and institutions (to include holding higher positions in the hierarchy) and at developing new people management and organizational culture concepts. Furthermore, it confirms the acknowledgement received in 2006 and the company's position of contributing to eliminating all forms of discrimination with regards to people having access to jobs, remuneration, ascension, and to permanence on the job.
Instituted by the Federal Government in September 2005, the Pro-Gender Equality Program is promoted by the Special Policies for Women Department and is supported by the United Nation's Development Fund for Women (Unifem) and by the International Labor Organization (ILO) in Brazil.
Petrobras currently has a Diversity Commission, composed of representatives of distinct company business areas. Coordinated by the General Ombudsman's Office, the Commission seeks to propose actions to ensure the defense of the principles of human diversity and non-discrimination throughout the Petrobras System.
Extractive Industries Transparency Initiative - EITI
The EITI is a coalition of governments, companies, civil society groups, investors and international organizations aimed to support improved governance in resource-rich countries through the verification and full publication of company payments and government revenues from oil, gas, and mining.
Petrobras is engaged with EITI since 2005 when it was invited to take part of the International Advisory Group (IAG), which worked to provide guidance on the shaping of EITI governance and the approved methodology standard.
Since 2006, the IAG became the EITI Board, where Petrobras is present alternating its position with PEMEX. The EITI Board has the responsibility for the overall development, strategic direction, and credibility of the EITI as well as for outreach and advocacy activities.
Commitment to transparency and anti-corruption is a value inherent to Petrobras corporate governance and culture. Even before EITI exists and going beyond its requirements, Petrobras has been publishing governmental participations payments in Brazil and abroad.
In order to foster transparency in the countries where it operates, Petrobras is committed to work with host governments that have decided to go through EITI implementation process
To know more about EITI click here
History of EITI
| October 2002 |
Tony Blair announces the Extractive Industries Transparency Initiative (EITI) at the World Summit for Sustainable Development in Johannesburg |
| June 2003 |
First EITI Plenary Conference at Chatham House in London launches the Initiative |
| February 2004 |
EITI Paris Implementation Workshop, February 2005 |
| June 2004 |
G8 Summit at Sea Island, US, endorses EITI for the first time |
| March 2005 |
Second EITI plenary conference, London, forms International Advisory Group (IAG) to decide on the governance and future direction |
| June 2006 |
Last IAG meeting establishes an EITI Board and selects Oslo as the location of the International Secretariat |
| October 2006 |
Third EITI plenary conference, Oslo |
| September 2007 |
International Secretariat opens in Oslo with a 'Transparency Week |
The EITI Principles
The EITI Principles, agreed at the Lancaster House Conference in June 2003, provide the cornerstone of the initiative. They are:
- 1. We share a belief that the prudent use of natural resource wealth should be an important engine for sustainable economic growth that contributes to sustainable development and poverty reduction, but if not managed properly, can create negative economic and social impacts.
- 2. We affirm that management of natural resource wealth for the benefit of a country’s citizens is in the domain of sovereign governments to be exercised in the interests of their national development.
- 3. We recognise that the benefits of resource extraction occur as revenue streams over many years and can be highly price dependent.
- 4. We recognise that a public understanding of government revenues and expenditure over time could help public debate and inform choice of appropriate and realistic options for sustainable development.
- 5. We underline the importance of transparency by governments and companies in the extractive industries and the need to enhance public financial management and accountability.
- 6. We recognise that achievement of greater transparency must be set in the context of respect for contracts and laws.
- 7. We recognise the enhanced environment for domestic and foreign direct investment that financial transparency may bring.
- 8. We believe in the principle and practice of accountability by government to all citizens for the stewardship of revenue streams and public expenditure.
- 9. We are committed to encouraging high standards of transparency and accountability in public life, government operations and in business,
- 10. We believe that a broadly consistent and workable approach to the disclosure of payments and revenues is required, which is simple to undertake and to use.
- 11. We believe that payments’ disclosure in a given country should involve all extractive industry companies operating in that country.
- 12. In seeking solutions, we believe that all stakeholders have important and relevant contributions to make – including governments and their agencies, extractive industry companies, service companies, multilateral organisations, financial organisations, investors, and non-governmental organisations.
Link to EITI webpage
 
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