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Abstract
The fossil fuels are pillars to the global economy; however, they are a major contributor to Greenhouse Gas emissions. In light of this, the oil industry can contribute to GHG emissions reduction efforts worldwide, as well as to the sustainable economic growth. This paper intends to present the Company Climate Change Strategic Project activities, the first results and actions implemented to manage GHG emissions.

The Company commitment to the climate change mitigation effort is evident in the strategic plan statement through the pledges to boost our share in the biofuel market, lead domestic biodiesel production and increase our participation in the ethanol fuel trade. The Company’s efforts also include an energy efficiency corporate program, an action plan to reduce the intensity of greenhouse gas emissions, and a portfolio of investments related to R&D. As a result of the Company’s proactive commitment, the Climate Change Strategic Project was set to keep the Company on the sustainability road.

A set of indicators appraises the evolution of environmental performance in order to pursue environmental standards of excellence and among those indicators, voluntary avoided GHG emission goal was set to upstream and downstream operations.

In order to monitor air pollutants and GHG emissions a system named SIGEA® accounts for more than thirty-thousand sources. Besides, the Company Research Center created a Technological Project - Proclima to support technology developments on energy efficiency, renewable energy and biofuels, and Carbon Capture and Geological Sequestration. Regarding biofuels, the Company has been playing a key role on the logistics to support the Brazilian sugar cane alcohol project named Proalcool since the nineteen's seventies. This project has prevented hundreds of millions of tons of carbon emissions. In addition three Company´s industrial plants are operating in Brazil to produce biodiesel.

The project will allow a company-wide integration of GHG mitigation actions to reduce the emissions intensity of the operations and the products, granting the commitment with the sustainable development. It also supports the Company operations with integrated growth, profitability and both environmental and social responsibility.