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BP targets a low carbon future

Release date: 16 April 2018

BP has said its net greenhouse gas emissions out to 2025 will remain at or below 2015 levels
An aerial view of a road winding through a forest

 

Advancing the energy transition

BP has said its net greenhouse gas emissions out to 2025 will remain at or below 2015 levels.

This target comes in a new report, Advancing the Energy Transition, which sets out BP’s plans to help address the dual challenge of meeting the world’s increasing demand for energy, at the same time as reducing emissions of greenhouse gases.

 

 

The world is growing like never before, creating opportunity for billions of people. And all this growth requires energy. But as the world demands more energy it also demands that it be produced and delivered in new ways, with fewer emissions.
Bob Dudley,group chief executive

 

 

Targeting operational emissions

Underpinning the target of zero net growth in operational emissions out to 2025, is a goal of 3.5 million tonnes of sustainable greenhouse gas emissions reduction by 2025, and the aim of limiting methane intensity (the proportion of BP’s marketed natural gas lost as emissions) to  0.2% and holding it below 0.3%. This methane intensity target includes the methane emissions from BP operations where gas goes to market, as a percentage of that gas.

 

Any increase in emissions above 2015 levels not covered by sustainable reductions activity will be offset each year.

 

The targets are part of BP’s 'reduce, improve, create' framework, which captures low and lower carbon activities across the whole of the BP group.

BP CEO Bob Dudley

 

We now know that a race to renewables will not be enough. To deliver significantly lower emissions every type of energy needs to be cleaner and better. That’s why we are making bold changes across our entire business.
Bob Dudley,group chief executive

 

BP’s reduce, improve, create framework
Reduce, improve, create framework

Efficiency improvements

Digital, big data and advanced technologies, as well as an innovative mindset, are driving rapid development of new ways to tackle emissions and improve efficiency at BP.

BP ship British Century

 

  • Energy efficient engines powering oil tankers are reducing fuel consumption
  • Retrofitted technology is reducing emissions at a US petrochemicals plant
  • Co-generated power is making more efficient use of energy at Whiting refiner

 

 

Tackling methane

In particular, tackling emissions of methane – the primary component of natural gas but also a potent greenhouse gas – is key. To address this, BP is targeting a methane intensity of 0.2% and holding it at 0.3% - this target includes the methane emissions from our operations where gas goes to market, as a percentage of that gas.

 

 

Since methane is the primary component of natural gas, BP is committed to taking a leading role in addressing the methane challenge.
Bob Dudley,group chief executive

 

 

Improving products and creating businesses

Alongside plans to further reduce its emissions, BP is already seizing opportunities to lower carbon across its business – from packaging to portfolio choices.

Lubricant formulation in the laboratory

  • Creating fuels and lubricants allowing drivers to go further with fewer emissions
  • Producing renewable gas from waste for the US transport market
  • Reducing plastic packaging on some US Castrol brands, contributing to a reduction in CO2emissions of about 2,000 tonnes a year
  • Investing in new businesses such as Lightsource BP, adding solar to a renewables portfolio that already includes wind and biofuels

Advancing low carbon

Many of these initiatives are among the 33 activities outlined in the newly-launched group-wide accreditation programme, Advancing Low Carbon (ALC), designed to incentivise every part of BP to pursue lower carbon opportunities and to encourage customers and others outside BP to make lower carbon choices.  Each activity included in the programme is independently verified and those judged to make a measurable contribution are expected to carry the ALC logo.

 

 

We are introducing the Advancing Low Carbon accreditation programme across BP to validate all these efforts and encourage further action.
Bob DudleyChief executive

Sustainability reporting

Advancing the energy transition was published alongside BP’s Sustainability Report for 2017. Framed around common questions about BP’s policies and performance, this year’s edition of the Sustainability Report is designed to describe BP’s approach to a range of non-financial issues in a clear and accessible style. It is supported by further extensive further reporting and examples online.

Chief executive Bob Dudley on BP's low carbon plans

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