Over the years, Petrobras has developed policies, codes and procedures that reflect the company's commitment to issues such as sustainability, business ethics and valuing its employees, among others.
One such instrument is Petrobras' Social Responsibility Policy, which, aligned to UN Global Compact principles, establishes eight guidelines focused on corporate activities, integrated management, sustainable development, human rights, diversity, working principles, sustainable social investments, and workforce commitment.
To Petrobras, social responsibility is the integrated, ethical, and transparent management of its business and activities and of its relationships with all of its stakeholders, promoting human rights and citizenship, respecting human and cultural diversity, fighting against discrimination, degrading work, child and slave labor, aiming to contribute to sustainable development and to reduce social inequality.
The company's activities are guided by codes and policies such as the Code of Ethics, the Code of Good Practices, the Code of Competitive Conduct, and by policies on HSE, Human Resources, Social Responsibility, Corporate Performance, New Business Development, Capital Discipline, Communications, Tax Management, and Principles of Corporate Security.
The Code of Ethics defines the ethical principles that guide Petrobras' actions and its conduct commitments. It was prepared with the participation of company employees and assessed by company areas, investors, communities, suppliers, customers, and competitors.
The Code of Good Practices embraces internal policies that have significant impact on governance and on Petrobras' economic performance: Internal Policy for the Disclosure of Information on Material Acts or Facts; the Internal Policy for Trading in Securities, Internal Policy for the Conduct of Officers and Members of Senior Management of Petrobras, Internal Policy for Appointment for Management Positions at Subsidiaries, Holdings and Affiliates; and the Investor Relations Policy.
The Competition Behavior Code represents Petrobras' commitment to comply with the Brazilian laws related to the defense of competition or antitrust and with the jurisdictions of the countries where we conduct business. The rule is intended to guide managers, employees and service providers, ensuring a relationship with competitors based on principles of honesty and respect, adopting explicit and stated rules concerning these procedures.
The Safety, Environment and Health Policy (SEH) covers issues such as workforce education, training and commitment; identifying, controlling, and monitoring risks; the impacts and benefits of projects, ventures, and products throughout their life cycles on the economic, environmental and social dimensions; and operation and product eco-efficiency, among others.
Fifteen guidelines support the Policy and contain several requirements in their details. These include risk assessment and management, community relations, accident and incident analyses, product contingency and management.
The Human Resource Policy covers issues such as attracting, developing, training and retaining people; fostering management practices and processes that lead to on-the-job satisfaction; and a negotiation process to build solutions with employee representation on labor unions.
Some other policies that guide Petrobras' activities are the Corporate Practice, New Business Development, Capital Discipline, Communications, and Tax Management policies, in addition to the Principles of Corporate Security.
Petrobras has been a signatory of the United Nation Global Compact since 2003, an initiative through which businesses commit, voluntarily, to fullfil and report their performance regarding ten principles related to Labor, Human Rights, the Environment, and Transparency.
The company has been a member of the Brazilian Committee of the Global Compact since its inception, and has been represented by its CEO on the Global Compact's International Board since 2006, when it became the only Latin American and oil and gas industry company to be on the Board.
For the fifth consecutive year, Petrobras is part of the Dow Jones Sustainability Index (DJSI), the most important global index in this category, which brings together over 300 companies from 57 industry sectors. The company distinguished itself in the Transparency criterion, in which it again got the highest score in the industry.
In December 2010, Petrobras, in partnership with the Brazilian Association of Technical Standards (ABNT), promoted the release of the International Standard ISO 26000: Guidance on Social Responsibility in Brazil. The company was the industry representative of the Brazilian delegation on the international working group responsible for building the standard. In 2011, the company will sponsor, together with ABNT, a nationwide series of seminars promoting the ISO 26000 standard in which the free distribution of the printed standard is provided.
Petrobras' internal actions to implement the ISO 26000 guidelines include qualifying workforce through specific training courses on the issues covered by the standard to be held at Petrobras University, and providing training in social responsibility to suppliers. The standard establishes the definition, principles, and core themes of social responsibility and was drafted on a multistakeholder process encompassing representatives of the industry, government, labor, consumers, NGOs, academia and services, research and consulting organizations.
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