The financial crisis and Petrobras´s Social Responsibility Policies
Belem, Marcela Purini
Departamento de Engenharia de Produção Universidade Federal de São Carlos São Carlos, Brasil
The present work analyzes the effects of the present financial crisis over the entrepreneurial policies of Social Responsibility of Petrobrás, the major Brazilian company from the field of energy.
Petrobras is a mixed-stocked Corporation controlled by the federation, that is, a state-owned company where there is a share between the public and the private powers, both in its administration and in its capital.
In 2008, Petrobras was acknowledged by a Management & Excellence (M&E) survey as the world?s most sustainable oil company. The company is a global reference in ethics and sustainability, in addition, since 2003 Petrobras adhered to the United Nations Global Compact, a voluntary agreement by which companies worldwide agree to guarantee compliance with the principles relating to human rights, working conditions, and environment. Beside that, for the third time, Petrobras earned the right to be listed on the Dow Jones Global Sustainability Index (DJSI), the most important global sustainability index .
Petrobras publishes annually its Social and Environmental Balance. Using the social balances from 2006, 2007 and 2008 we did an analysis of the effects of the crisis over the company?s Social Responsibility actions. We began our analysis in the year of 2006, for in that year Brazil attained the self-sufficiency in the oil production, when the company breaks a record in the gains and in the investments on Social Responsibility Actions. In the years of 2007 and 2008, despite the company?s success in great part of its aims and obligations towards its Social Responsibility commitments, the effects of the economic panorama were felt both in the company?s profits as well as in the entrepreneurial policies of Social Responsibility.