BP’s Commitment to be Net Zero by 2050:
Five aims related to BP’s emissions:
1 Net zero across BP’s operations on an absolute basis by 2050 or sooner.
2 Net zero on carbon in BP’s oil and gas production on an absolute basis by 2050 or sooner.
3 50% cut in the carbon intensity of products BP sells by 2050 or sooner.
4 Install methane measurement at all BP’s major oil and gas processing sites by 2023 and reduce methane intensity of operations by 50%.
5 Increase the proportion of investment into non-oil and gas businesses over time.
Five aims related to the world’s emissions:
1 More active advocacy for policies that support net zero, including carbon pricing.
2 Further incentivise BP’s workforce to deliver aims and mobilise them to advocate for net zero.
3 Set new expectations for relationships with trade associations.
4 Aim to be recognised as a leader for transparency of reporting, including supporting the recommendations of the TCFD.
5 Launch a new team to help countries, cities and large companies decarbonise.