Bernard on ‘Fit for 55’ measures

Ahead of the European Commission’s launch of its ‘Fit For 55’ legislative package, Bernard comments on why bp welcomes the measures to cut emissions by at least 55% by 2030

It’s a big week as the European Commission will publish one of the largest legislative packages it’s ever rolled out – to enable the European Union to cut its emissions by at least 55% by 2030, compared with 1990 levels.  

We expect these measures – called ‘Fit for 55’ – will call for major changes in how we think about energy in the EU. From scaling up renewables to decarbonizing transportation in Europe – it will be wide-ranging and challenging. And we welcome this legislation. 

Our direction of travel as a company is aligned with the EU’s – we want ambitious and effective climate policies to help us all get to net zero.  

We expect these policies to stimulate low carbon consumer demand and create big business opportunities for companies like ours.

So, even though the legislation could present challenges to some of our traditional business customers – like aviation, shipping and road transportation – we think it will work in step with our new business plans and targets to become a different company by 2030. Like our aims for a 10-fold increase in low carbon investment and increasing our electric vehicle charging points from 7,500 to 70,000 globally. 

Fit for 55 shows that policy changes are necessary for Europe to achieve its climate goals. We look forward to working with European policymakers so that greening companies like ours can play our part in making these ambitious emission cuts a reality.