Brazilian oil major Petrobras has secured its first sustainability-linked loan as the company seeks to focus on decarbonising its operations.
The five-year, $1.25bn facility was signed with the Bank of China, MUFG and The Bank of Nova Scotia, the Brazilian oil major said.
The terms were not disclosed, but Petrobras will pay a lower interest rate if it meets goals to reduce per-barrel emissions of methane and other greenhouse gases, while it will pay a higher rate if it misses the targets.
