Bernard answers your questions | News and insights

Ginny questions: how is it possible to get to net zero while still producing oil and gas?

Climate change is real, and we need emissions to fall dramatically.
bp has a net zero ambition and a new strategy to achieve that ambition.
We are significantly rebalancing but still spending half our annual spend into oil and gas by 2030.
The money we make from oil and gas funds our transformation.

Shutting down is not the answer – others will produce oil and gas if bp doesn’t.
Green companies can’t get the world to net zero alone.
We need greening companies like bp – carbon-intensive companies that have real net zero plans.
Greening companies need support.
We need to get behind every business that is serious about changing – engage them; challenge them.

There is absolutely a need for action.
The Paris Agreement recognizes that the transition to net zero cannot and will not happen overnight.
But we are getting after it!
We’ve set 2030 aims and tough 2025 targets – not just a 2050 ambition.
And we want to help the world – helping cities and corporates to decarbonize.
And advocating for low carbon policies.

By 2050, we aim to be net zero on our operational emissions and the carbon associated with the oil and gas we take out of the ground.
The world needs more energy, not less.
The energy system needs to be transformed, so we are also aiming to grow our renewables and low carbon businesses.
Helping us to cut in half the overall carbon intensity of the energy we sell to customers.
We are also advocating for net zero polices from governments.
And, we’re working to help regions and corporates decarbonize.
All of this gives us confidence that our overall strategy is consistent with the Paris goals.

We're absolutely committed to delivering long-term shareholder value while building the bp of tomorrow.

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