This Friday (06/26), Petrobras took another step in the evolution of its integrity system with the publication of its "Code of Ethical Conduct". The document, approved by the company's Board of Directors, was constructed in a clear, objective and easy to understand language.

"The new Code of Ethical Conduct aims to help us to act and make decisions in the right way, describing commitments and behaviors expected of all who represent and collaborate with Petrobras.", Highlighted Petrobras President Roberto Castello Branco (photo ).

The new Code of Ethical Conduct is an improvement on the "Code of Ethics" and the "Guide to Conduct", which have been unified. To prepare the new version, the best practices of other companies in the market were analyzed; Brazilian law, such as the Administrative Probity Law, the Anti-Corruption Law

Institutional Business and the Legal Status of State-owned Companies; and international regulation, such as the Foreign Corrupt Practices Act (USA), the Sarbanes-Oxley Act (USA) and the UK Anti-Bribery Act. The new document prioritizes preventing fraud, corruption and money laundering beyond implementation improvements in its internal accountability system. In addition, it values elements such as innovation, technology, meritocracy, trust and good market practices, rejecting anticompetitive behaviors that violate competitive legislation.

"The document is fundamental for the modernization of Petrobras' internal procedures, as it will have an effect on the activities of all employees and interested third parties that relate to the company. By establishing that integrity is consolidated as a fundamental value, our objective is to pass on a a clear and direct message that the misdeeds of the past will never find space in our business again, so we want to encourage the arrival of qualified professionals for our staff and attract companies that are truly committed to the values of integrity into our business environment.A code of conduct containing a friendly, simple and understandable language, built on the basis of the best international standards, will certainly contribute to modernize the procedures and to give Petrobras the competitiveness it needs in the world oil and gas market ", said Marcelo Zenkner, Director of Governance and Compliance at Petrobras).

The new Code applies to the members of the Board of Directors and their advisory committees, members of the Fiscal Council, members of the Executive Board, employees, interns, service providers and anyone acting on behalf of Petrobras, including its subsidiaries in Brazil and abroad.

Continuing training 

Petrobras will promote, throughout 2020, courses with all its approximately 45 thousand employees on the new Code of Ethical Conduct. Annual ethics and integrity training remains mandatory for all employees, in order to reinforce the content of the document. The Code of Ethical Conduct will also be reviewed and updated, at least every two years, in order to adapt to the increasingly rapid changes in the world, including in the corporate environment.