Challenge
Brazil faces significant challenges in the socio-environmental landscape. According to the Luz Report until July 2021, the country had not shown satisfactory progress in any of the 169 targets of the 17 Sustainable Development Goals of the UN’s 2030 Agenda established in 2015. Given the potential impact, it is crucial for the corporate sector to commit to improving its positive impact on communities and the environment, as well as to communicate its socio-environmental initiatives. This will contribute to a more sustainable and equitable Brazil.
In this context, Petrobras has launched the Social and Environmental Program, which supports initiatives that generate value for the company and for society, through socio-environmental projects with transformative potential, in partnership with the third sector and expanding the dialog with the communities in the territories where Petrobras operates.
To reinforce its commitment to transparency and accountability to its stakeholders, the company has partnered with IDIS to conduct impact assessments of the projects supported by the Program. These assessments aim to report the socialenvironmental investments’ results to stakeholders, identify elements that can enhance the positive social and environmental impacts of the projects, and manage Petrobras’ voluntary investment portfolio more effectively, in line with the company’s strategy, while at the same time generating learning for the institutions.
Em 2023, Petrobras also sought to further enhance its understanding of the initiative’s outcomes. With support from IDIS, they revised and developed more suitable indicators to measure the results and impact of their social responsibility activities, aiming to better align them with the company’s strategic objectives.
Solution
To meet the demand, IDIS explored various methodologies for assessing socio-environmental impact. Considering the specificities of the program’s project portfolio, the availability of information, and the feasibility of the proposed approaches, IDIS adopted two types of assessment: the SROI (Social Return on Investment) protocol and Cost-Benefit Analysis (ACB). Additionally, some elements of the SROI protocol were incorporated to make it more suitable for projects with an environmental focus.
Both approaches involve quantifying the impacts generated by each project and calculating the return for both society and the environment.
For the review and construction of the social responsibility indicators, IDIS carried out a diagnosis of the existing indicators and impact, suggesting alternatives that were evaluated by Petrobras.
Results
During this process, notable positive environmental impacts were identified, including the storage and sequestration of thousands of tons of CO² from the atmosphere, resulting from actions such as reforestation, conservation of endangered species, productive inclusion, and increased environmental awareness among diverse audiences.
Furthermore, significant social impacts were observed, such as improvements in socioemotional development, motor and cognitive skills that have had an impact on school performance, the broadening of cultural repertoire, and more promising future prospects for children and adolescents in vulnerable situations in various regions of the country. Additionally, there is clear evidence that shows professional qualification actions have increased the employability and income of young people and adults, especially women, with a consequent reduction in inequalities.
The evaluation process not only improved the dialogue between the funder, executing teams, and beneficiaries but also provided crucial insights for a more in-depth strategic reflection on the socio-environmental impacts generated by the projects supported by the Program.
Between 2025 and 2027, another 45 evaluations are planned to take place, as well as thematic training and critical analysis workshops on the impact evaluation process for the Petrobras Social and Environmental Program team.
ODS
About the Organization
The Petrobras Social and Environmental Program aims to promote the development of partnerships, the strengthening of bonds, and the generation of mutual benefits, enabling respect for the social, environmental, territorial, and cultural rights of local communities and populations while producing positive outcomes in socio-environmental topics relevant to the company’s business and society. The program currently operates through four lines of action: education, sustainable economic development, ocean, and climate.
