BP Aims to Reduce its Emissions by 10%
Following an undertaking he first gave at Stanford University in May last year to quantify planned reductions, Browne told students in a speech at the Yale School of Management in Connecticut that the company had now fixed a firm overall target to cut greenhouse gas emissions by 10%, against a 1990 baseline, by the year 2010.
Browne said the reductions would come from a variety of developments, including the application of new technology, more efficient energy usage and the elimination of flaring.
In conjunction with the U.S. Environmental Defense Fund, the company had just set up an internal pilot emissions trading programme involving 12 of its business units which, if successful, would be extended across the rest of the group worldwide. It was also exploring other mechanisms such as joint implementation, carbon sequestration and technology transfer, Browne said.
"As our business grows, we will incorporate new activities into the baseline of the calculation and into the target," he added.
"Our aim is to reduce our emissions progressively, year by year. And we will do it in transparent ways so that the reduction can be measured and verified by external observers."
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