Our operations bring us into contact with some of the most challenging issues facing society today. To address them, we seek to engage
constructively with those who help build BP's success. We strive to ensure that our relationships with investors, non-governmental
organizations (NGOs), customers, suppliers, communities and governments are founded on the basis of mutual advantage. Our relationships
are forged over many years, developed by understanding the needs and aspirations of all those with whom we do business.
During 2003, we made progress on issues related to the construction
of the BTC pipeline, a project that has attracted some NGO opposition, particularly over human rights issues. The pipeline will
transport oil from the Caspian to the Mediterranean, so avoiding shipping through the Bosporus. BP facilitated the signing of a joint
statement by the three host governments committing them to internationally recognized human rights, labour rights and environmental
standards, including a commitment to the Voluntary Principles on Security and Human Rights. While there is much work to be done to ensure
that these standards are respected throughout the lifetime of the project, we believe we have created a strong foundation on which to build.
Our business activities affect and benefit people across the globe. We
seek to extend these benefits as broadly as possible; for example, by creating economic opportunity for local people in the supply of goods
and services to our operations worldwide. Education and training are key to unlocking this potential and remain a prime focus of our social
investment. We continue to support many initiatives in the communities in which we operate, ranging from the UK Schools Link programme to
the Enterprise Centre in Azerbaijan.
We believe that open and thriving societies create the best environment
for business. During 2003, we contributed to international discussions concerning the issue of transparency, including the Extractive Industries
Transparency Initiative. We hold transparency and accountability as core values in the conduct of our business. We have taken steps to encourage
greater transparency in the operations of host country governments, for example, in Angola and Azerbaijan.
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