Governance

The BP board is responsible for the direction and oversight of BP p.l.c. (BP) on behalf of the shareholders and is accountable to them, as owners, for all aspects of BP’s business. The BP board believes that good governance involves the clarity of roles and responsibilities, and the proper utilisation of distinct skills and processes.

Board governance principles

The board has developed and approved a set of board governance principles which set out its approach in this area. The board also reports on its corporate governance activities and performance each year in its 'Governance report’ which forms part of BP's Annual Report and Accounts

The board governance principles are designed to enable the board and BP's executive management to operate within a clear governance framework. The principles describe the board's relationship with shareholders and executive management, the conduct of board affairs and the tasks and requirements for board committees.
They outline the board's focus on activities that enable it to promote shareholders' interests, including the active consideration of strategy, the monitoring of executive action and ongoing board and executive management succession.

The board has developed these principles to help it fulfil its responsibilities and regularly keeps its work and performance under review. See Key downloads to the right to view the principles.

The board and committees report on their activities each year in the Annual Report and Accounts. See the Section highlights below to view the 2016 governance report.

Remuneration policy

Our remuneration policy is designed to link the delivery of BP’s strategy with pay. See the Section highlights below to view the 2016 remuneration report containing the proposed new remuneration policy and the 2016 pay outcomes.

Section highlights

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