Sat within bp’s trading and shipping business, low carbon trading (LCT) is one of bp’s core integrators. We work with teams across bp to find new opportunities and energy solutions in a constantly changing landscape. Our aim is to leverage carbon markets to incentivize emission avoidance, reductions and removals in a wide range of geographies and sectors.
As we reimagine energy at bp, we see it as our responsibility to help our customers transition to a low carbon economy. We believe that well-designed carbon pricing provides the right incentives for everyone – energy producers and consumers alike – to play their part in reducing emissions. LCT plays a vital role in connecting bp and our customers to carbon pricing through our activity in the world's carbon markets, supporting the efficiency of regulatory trading programs to reduce emissions and enabling projects in other sectors through the purchase of carbon credits.
Through our work with Natural Climate Solutions (NCS) we have supported carbon credit projects to improve forestry management, protect tropical forests and restore ecosystems. In addition to achieving emission avoidance, reductions and removals, we look for projects which deliver a wide range of co-benefits, expanding the way that bp activities can contribute to the achievement of the UN’s sustainable development goals.
At bp, we use various commercial structures to ensure the success of carbon projects and their contribution to net zero, people and the planet. bp looks at financing solutions to support carbon projects to generate offset credits, including, among other opportunities, taking an equity stake in technologies, or the company deploying technology, to innovate our approach for low carbon trading.
bp trading and shipping are working to transform and connect the global energy market, offering our customers an integrated and innovative approach to energy. As we aim to become a net zero company by 2050, bp is driving innovation across the fast-moving carbon markets, actively engaging with all the carbon trading systems across the world.
The credits which low carbon trading originate enable bp to diversify our customer offering, including developing bundled carbon offset products to help meet customers’ demand for products which enable them to take a step on the energy transition today, while other solutions are being developed.
Carbon offsetting is used to compensate for emissions by funding an equivalent carbon dioxide saving elsewhere.
Information about our Dodd-Frank protocol, swap disclosures, and daily mark access