Sustainability strategy

In 2023, PETROPERÚ and S&P Global signed a contract to develop an environmental, social and governance (ESG, Environmental, Social and Governance) strategy. This contract included the preparation of a roadmap for its implementation and the proposal of recommendations to improve PETROPERÚ’s resilience in the face of the energy transition scenario.

The service was carried out in three (03) phases: 1) Evaluation of PETROPERÚ’s current sustainability landscape, 2) Identification, characterization and prioritization of ESG actions, and 3) Creation of a roadmap for its implementation. 

PETROPERÚ’s new sustainability strategy was developed based on S&P Global’s proposal, complemented by criteria of interest, in terms of ESG, collected from the following sources:

• GRI 2021 standard and recommendations of the external audit carried out to the 2022 Sustainability Report.
• ESG Score 2022 and 2023 results from S&P Global.
• Indicators set out in the SMV Sustainability Report
• Governance Improvement Plan.
• Principles of Ecuador and Performance Standards of the International Finance Corporation.
• United Nations Sustainable Development Goals.
• United Nations Global Compact Sustainability Questionnaire.
• Sustainability requirements of international banking.

Approved in December 2024, the new sustainability strategy is supported by five (05) pillars:

1. Strategy and Leadership
   Objective: To prepare PETROPERÚ for a smooth and effective energy transition towards a low-carbon future.
2. Climate Action
   Objective: To reduce greenhouse gas emissions and diversify the company’s business, venturing into emerging alternative energy markets.
3. Environmental Management
   Objective: Mitigate environmental impacts, especially in terms of biodiversity, water use and waste management.
4. Relationship with Stakeholders
   Objective: To establish relationships of trust and effective communication with all Petroperú stakeholders.
5. Corporate Governance
   Objective: To ensure a good decision-making structure and reinforce the trust of financial stakeholders.

New PE Sustainability Strategy

The deployment and implementation of each of the five (5) pillars is detailed in the ESG Plan, which is made up of fifteen (15) strategic axes and sixty (60) prioritized actions, which are being implemented in 2024.

ESG Plan

Other actions to improve our Sustainability Management include:

Preparation of the first Report of the Working Group on Climate-Related Financial Disclosure (TCFD)
It involved the diagnosis, analysis and identification of climate risks in our operational framework, in accordance with the path and good example of our international peers in the Oil & Gas industry, with which we were able to develop our first TCFD report. You can review the report here.

Obtaining the Second “ESG Score” through the CSA 2023 survey, developed by S&P Global
In 2023, we participated for the second consecutive year in the S&P Global Corporate Sustainability Assessment (CSA), which rates the management and performance of companies in addressing environmental, social and governance aspects relevant to the industry, serving as an indicator for investment decision-making and risk management of multiple financial stakeholders.

As part of this evaluation process, PETROPERÚ obtained a score of 28 points (out of a total of 100) in the “ESG Score 2022”, and 29 points in the “ESG Score 2023”, while the industry average was 37 points for that year.

You can check the latest PETROPERU results here

Participation in the United Nations SDG Corporate Tracker
In 2023, we participated in the second edition of the SDG Corporate Tracker, a tool of UNDP (United Nations Development Program) Peru that evaluates the degree of alignment of companies with the Sustainable Development Goals (SDGs), analyzing their level of commitment through policies, operations and strategic initiatives.

PETROPERÚ’s individual report for 2022 reflected its commitment to sustainability and its alignment with the SDGs. Likewise, areas for improvement were identified, especially in measuring the impact of its initiatives and reporting key data on the consumption of resources such as water and energy and greenhouse gas emissions.

It is important to emphasize that the results of the second edition are available here. The results for 2023 will be published in December 2024. Here.