We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
Climate Lobbying Overview: Instituto Brasileiro de Petróleo e Gás (IBP) appears to have very limited engagement on climate action, climate-related regulations, and the energy transition. In its limited communications, the company appears to support the long-term role of fossil fuels in the energy mix, alongside an increasing role for biofuels.
Top-line Messaging on Climate Policy: IBP has very limited top-line messaging related to climate action. The institute’s climate position document titled ‘Posicionamento do IBP no âmbito da transição energética, tendo como objetivo principal contribuir para uma trajetória de descarbonização até 2050’ published in October 2021 has acknowledged the IPCC science on climate change. However, it is unclear if IBP supports emissions reductions in line with IPCC-specified timelines for a net-zero emissions economy by 2050. InfluenceMap could not find any evidence of IBP’s support for the Paris Agreement or the need for climate regulation.
Engagement with Climate-Related Regulations: IBP has very limited transparent engagement with climate-related regulations. While IBP has disclosed a few positions on broad areas related to climate action in the October 2021 position document, it does not provide details on how IBP is engaging on policies related to these issues.
While IBP supported the RenovaBio carbon offset market in April 2021, it stated that the policy needed technological updates. In the same month, IBP supported the inclusion of second-generation biofuels in the National Biofuels Policy (RenovaBio) carbon offset scheme. In November 2020, IBP appeared to not support emissions trading mechanism by advocating for measures that would reduce the carbon price and therefore the effectiveness of National Biofuels Policy (RenovaBio) carbon offset scheme.
Positioning on Energy Transition: IBP appears to have a mixed position on the energy transition. While the association supports a continued role for fossil fuels in the future energy mix, it also advocates for an expanded role for biofuels. In May 2022, IBP released a document analyzing Brazil's 2031 power plan, PDE 2031. In this document, IBP appeared supportive of increasing biofuels in the energy mix, while also appearing to support a continued role for oil and gas up to 2050 in Brazil. However, in an August 2020 ‘Note on Biofuels’ , the group supported biofuels while emphasizing that issues related to biofuel production should be left to market forces.
IBP’s website when accessed in July 2021 suggested that a long-term role for fossil gas is desirable. Similarly, another document from the website, when accessed in July 2021, appeared to support additional investments in fossil fuel infrastructure.
Additional Note: IBP is headquartered in Brazil, where InfluenceMap’s LobbyMap platform can currently only make a provisional assessment of corporate climate policy engagement, due to limited capability to access publicly available data on this issue. As it is possible that InfluenceMap is not yet able to fully capture evidence of IBP's climate policy engagement activities, these scores should be considered provisional at this time.