Each article in this series will be written by one of bp’s subject matter experts and will explore a different element of the energy transition and the role it could play in a low-carbon future.
2020 was a pivotal year for climate action. There is now real momentum behind efforts to achieve the Paris goals. And companies will play a central role in delivering these targets – many of those companies, who like bp, have set out a path to transition their business to net zero.
We do not have all the answers, and we know that there is no one path to net zero. We hope by sharing the information that underpinned bp’s strategy, we can contribute to the conversation and learn from others.
The role of fossil fuels declines over the next thirty years, but natural gas remains more resilient as it supports the shift away from coal and provides a source of near-zero-carbon energy, when combined with CCUS, as the world increasingly decarbonizes.
Not all crudes are made in the same way. Different crudes have different carbon intensities and those differences could have a significant impact on cost and competitiveness, depending on carbon prices.
Explore the report, download the data or watch the replay of Spencer Dale's 2020 presentation