Petrobras removed from Dow Jones Sustainability Index

Petrobras is no longer on the Dow Jones Sustainability World Index (DJSI World), a global sustainability index that rates companies based on their social, environmental, and financial responsibility practices. Petrobras had been in the listing since 2006 and its removal, effective as of next Monday (Mar. 23), follows the recent corruption scandal involving the company. The state-owned company was notified of the decision by the DJSI Committee and communicated it to investors on Monday (16).

“The committee based its decision on the charges of corruption investigated by Lava Jato Operation. The committee announced it will monitor the development of the investigations and Petrobras’s position throughout the year, and may reconsider its participation in 2016,” Petrobras's note read.

The oil company said “it is working closely with the public authorities, as well as complying with the requests made by its stakeholders, including the Dow Jones Sustainability Index Committee.”.

Translated by Mayra Borges

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