Petrobras, Brazilian largest integrated energy firm, announced that it has acquired 175,000 carbon credits (each credit representing 1 ton of CO2 equivalent avoided), marking its entry into the voluntary carbon credit market.

The credits were acquired from the Envira Amazônia Project (570 hectares) which is dedicated to preserving the Amazon rainforest and developing actions to benefit the region’s communities. The operation is aligned with Petrobras’ Strategic Plan 2023-27 that foresees total investments of up to 120 million dollars in carbon credits by 2027. Moreover, carbon credits purchases complement Petrobras’ decarbonization strategy, which also includes reducing emissions in its operations, renewable energy projects, biorefining and carbon capture and storage (CCS).