BP
BP aims for 100% Scope 1, 2 and 3 emissions for 2050. Ambitions and targets were greatly increased in 2022. BP’s strategy from oil to energy majors is defined into three focus areas, Resilient Hydrocarbons, Convenience and Mobility and Low Carbon Energy.
Need help with a tender?
We can provide you with a tender plan or other reporting
Sustainability Report
About BP
BP aims for 100% Scope 1, 2 and 3 emissions for 2050. Ambitions and targets were greatly increased in 2022. BP’s strategy from oil to energy majors is defined into focus areas parts, Resilient Hydrocarbons, Convenience and Mobility and Low Carbon Energy.
BP received an A- score for their CDP submission.
-
In the 2021 sustainability report, BP CEO Bernard Looney stated an increase in ambition for carbon reduction targets. BP now aims to reduce carbon intensity to net zero by 2050 or sooner – up from 50% - and have increased the volume of emissions covered by this aim to include physically traded sales of energy products.
Operational emissions (Scope 1 and 2) are to be reduced by 50% by 2030, up from 30-35%. BP has already claimed 35% reduction in absolute emissions against their 2019 baseline, a number which is hard to interpret at the moment. It is stated that these reductions are largely due to a reduction in flaring in some operating facilities, including US onshore operations.
-
No shore power projects have been identified.
-
Available soon
-
Available soon
-
Available soon
-
BP believes offsetting is critical to reaching Paris goals. They expect global demand for carbon credits is likely to grow and intend to continue to offer carbon credits and offsetting solutions to customers. BP is participating in several initiatives and associations to develop and strengthen the quality of the offset market, including the UK Voluntary Carbon Markets Forum, International Carbon Reduction & Offset Alliance (ICROA), International Emissions Trading Association (IETA), Natural Climate Solutions Alliance (NCSA).
-
BP has signed a long-term partnership agreement with the Maersk Mc-Kinney Møller center for Zero Carbon Shipping to develop new alternative fuels and low carbon solutions for the shipping industry. They have also signed an Memorandum of Understanding with the shipping and logistics company NYK Line to collaborate on future fuel and transportation solutions to help shipping and other sectors decarbonize. In relation to shipping, the collaboration will focus on waus of transitioning from current marine fuels to future fuels and associated value chains such as CO2 shipping.
-
In 2020, BP reorganized to reflect the carbon reduction ambitions. BP is now comprised of four business groups, three integrators and four core enablers. The business groups are Production and Operations, Customers and Products, Gas and Low Carbon Energy and Innovation and Engineering. The integrators are Sustainability and Strategy, Regions, Cities and Solutions, and Trading and Shipping. The enablers are Finance, Legal, People and Culture, and finally Communications and Advocacy.
The structure of BP’s organisation has been broadly the same for more than a century, split into separate organisations – upstream, downstream, and other businesses. The reorganisation therefore reflects a fundamental business change. Under the plans, BP’s existing, largely autonomous business segments – upstream and downstream – will be dismantled and the group reorganised globally into a more focused and more integrated entity, comprising 11 teams. The heads of these teams will make up BP’s new leadership team.
Frequently Asked Questions
-
Description text goes here
