Release date: 28 February 2020
We announced this week that we would withdraw from three trade associations over climate change differences, citing our support of the Paris Agreement goals and net zero ambition as reasons for the decision.
BP’s in-depth review of the policies held by 30 key trade associations comes a few weeks after BP announced its net zero ambition.
The three associations whose climate-related activities and policy positions were deemed not to be aligned with BP are Western Energy Alliance (WEA), Western States Petroleum Association (WSPA) and American Fuel and Petrochemical Manufacturers (AFPM).
The in-depth review acknowledges that some in society have lost trust in BP and the industry more widely because of seeming inconsistencies between public statements and lobbying and advocacy.
BP’s new CEO, Bernard Looney, says in the report:
The hashtag #bpNetZero has been in frequent use this month with social media users commenting on our new ambition. Many used it to praise BP’s ‘bold plans’, just as many used it to ask our CEO Bernard Looney tough questions, such as:
“Every journey has to begin with a destination. We don’t have targets right now, but we will come back in September with more information on the first five years.”
“Our new ambition tackles Scope 3 head on. We're not just aiming to halve the carbon intensity of our products - as others seek to do. We're aiming for net zero on an absolute basis for the carbon associated with the oil and gas we dig out of the ground.”
“We know many will doubt our intentions. What really reflects our seriousness is that we are Reinventing BP ̶ making possibly the most wide-ranging changes to our organization in more than a century to help us work towards our new ambition.”
What do you think of our net zero ambition? Use the #bpNetZero and follow @bp and bernardlooney_bp on Instagram and Linkedin
It’s a summary of the 10 net zero aims we set out earlier this month that together are in support of our ambition to be a net zero company by 2050 or sooner, and to help the world get to net zero.
Aims 1-5 are to help BP get to net zero and include aims to:
Aims 6-10 are to help the world get to net zero and include aims to:
The UK’s first zero-carbon industrial centre took another step forward today with the formation of a consortium to accelerate the Net Zero Teesside project.
BP with Eni, Equinor, Shell and Total have assumed leadership, transitioning the Net Zero Teesside project from OGCI Climate Investments – the $1 billion fund of the Oil and Gas Climate Initiative.
BP will take on the role as operator of the project that aims, by the middle of the decade, to capture from local industry up to six million tonnes of CO2 emissions each year – equivalent to the annual energy use of up to two million homes in the UK.
With the use of carbon capture utilization and storage (CCUS) technology. For this project, that means building a transportation and storage system that will gather industrial carbon dioxide (CO2), compress it and store it safely in a reservoir under the North Sea.
BP’s ambition to become a net zero company by 2050 or sooner may be new, but it was addressing the threat of climate change some 20 years ago.
As well as pioneering alternatives like wind, solar and biofuels two decades ago, it also set in motion a plan to work with the world’s finest academics on the issue of climate change. The goal? To create a bigger brain to help address this defining challenge. Essentially, connecting BP’s community of 2,000-plus researchers with the scientific community to improve understanding and find solutions.
So began BP’s partnership with some of the world’s foremost universities, including Cambridge, UK, Princeton, US, and Tsinghua in China.
Professor Stephen Pacala, a leading climate scientist and director of the BP-backed Carbon Mitigation Initiative (CMI) at Princeton University, says:
Getting to net zero will take passion, skill and will. Meet on-screen our six BP employees as they explain, with the help of hobbies and new experiences ̶ from fly fishing to sheep herding ̶ why they are passionate about the environment.
They share why they feel their career is contributing to a low carbon future for the world, and why they believe BP has a part to play in achieving it. Their work is at the forefront of the energy transition.
From seeking out technologies that allow us to reduce plastic waste and advance the adoption of electric vehicles, to cutting emissions and building more sustainable oil and gas platforms.