BP today announced that, following an in-depth review examining the alignment of the climate-related policies and activities of trade associations with BP’s positions, it will leave three US-based organisations – American Fuel and Petrochemical Manufacturers (AFPM), the Western States Petroleum Association (WSPA) and the Western Energy Alliance (WEA).
Earlier this month BP introduced its ambition to become a net zero company by 2050 or sooner and to help the world get to net zero, as well as ten aims that underpin it. These include the aim to set new expectations for relationships with trade associations around the globe – the review published today and continuing engagement with these organisations on climate is part of this aim.
BP CEO Bernard Looney said: “Trade associations have long demonstrated how we can make progress through collaboration, particularly in areas such as safety, standards and training. This approach should also be brought to bear on the defining challenge that faces us all – supporting the rapid transition to a low future. By working together, we can achieve so much more.
“BP will pursue opportunities to work with organisations who share our ambitious and progressive approach to the energy transition. And when differences arise we will be transparent. But if our views cannot be reconciled, we will be prepared to part company.
“My hope is that in the coming years we can add climate to the long list of areas where, as an industry, we work together for a greater good.”
Over the past six months, BP has conducted a review of how key trade associations’ climate-related activities and policy positions align with BP’s positions. Thirty associations – concentrated in North America, Europe and Australia – were selected for review and their current and recent policy positions, based on publicly available information, were assessed. As a result, they were determined to be aligned, partially aligned or not aligned with BP’s positions.
For three organisations, BP found misalignments that could not be reconciled. Due to material differences regarding policy positions on carbon pricing BP will leave American Fuel and Petrochemical Manufacturers (AFPM) and the Western States Petroleum Association (WSPA). Due to material differences around the federal regulation of methane, as well as asset divestments in the states in which the organisation is active, it will not renew its membership with the Western Energy Alliance (WEA).
BP has identified a further five organisations with which it is only partially aligned on climate. BP has communicated these differences to these associations.
BP has also communicated clear expectations with regards to climate positions and transparency to all associations within scope of the review.
This is an ongoing process – BP will actively monitor its memberships, participation and alignment with trade associations to which it belongs and will provide periodic updates, internally to the board of directors and to stakeholders as appropriate. BP plans to undertake another review in around two years’ time.
American Fuel and Petrochemical Manufacturers (AFPM)
Western Energy Alliance (WEA)
Western States Petroleum Association (WSPA)
American Petroleum Institute (API)
Australian Institute of Petroleum (AIP)
Canadian Association of Petroleum Producers (CAPP)
National Association of Manufacturers (NAM)
US Chamber of Commerce
Australian Industry Greenhouse Network (AIGN)
Australian Petroleum Production & Exploration Association (APPEA)
Bundesverband der Deutschen Industrie (BDI)
Business Council of Australia (BCA)
Confederation of British Industry (CBI)
European Chemical Industry Council (Cefic)
European Round Table for Industry (ERT)
International Air Transport Association (IATA)
International Association of Oil and Gas Producers (IOGP)
International Emissions Trading Association (IETA)
International Gas Union (IGU)
Oil and Gas Climate Initiative (OGCI)
Oil & Gas UK (OGUK)
Spanish Association of Petroleum Products Operators (AOP)
Verband der Chemischen Industrie (VCI)
Vereniging Nederlandse Petroleum Industrie (VNPI)
World Business Council on Sustainable Development (WBCSD)
BP press office, London: +44 (0)20 7496 4076, email@example.com
In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’), BP is providing the following cautionary statement. This press release contains certain aims, intentions, ambitions and other forward-looking statements – that is, statements related to future, not past, events and circumstances which may relate to one or more of the financial condition, results of operations and businesses of BP and certain of the plans and objectives of BP with respect to these items. These statements are generally, but not always, identified by the use of words such as ‘will’, ‘expects’, ‘is expected to’, ‘aims’, ‘should’, ‘may’, ‘objective’, ‘is likely to’, ‘intends’, ‘believes’, ‘anticipates’, ‘plans’, ‘we see’ or similar expressions. Actual results may differ from those expressed in such statements, depending on a variety of factors including the risk factors set forth in our most recent Annual Report and Form 20-F under “Risk factors” and in any of our more recent public reports. No material in this press release forms any part of any of those documents. No part of this press release constitutes, or shall be taken to constitute, an invitation or inducement to invest in BP p.l.c. or any other entity and must not be relied upon in any way in connection with any investment decisions. BP p.l.c. is the parent company of the BP group of companies, all of which are separate legal entities. Unless otherwise stated, the term BP and terms such as ‘we’, ‘us’ and ‘our’ are used in this release for convenience and simplicity and collectively refer to BP p.l.c. and the BP group of companies. Our most recent Annual Report and Form 20-F and other period filings are available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov.