Sustainability
Sustainability is a foundation of our strategy. We believe creating value for our stakeholders more widely – for society, our employees and our shareholders – is key to the long-term resilience and value of our business
Our sustainability frame
Our sustainability frame underpins our strategy and puts our purpose into action. It takes an integrated approach while focusing on the areas where we believe we can make the most difference
Our aims and objectives
We've set aims for each of our focus areas:
- 10 aims to get bp to net zero and help the world get there too
- 5 aims to care for our planet
- 5 aims to improve people's lives.
Getting to net zero
In 2020 we set out our ambition to be a net zero company by 2050 or sooner and to help the world get to net zero.
This ambition is supported by 10 aims: five to help us become a net zero company and five to help the world get there too. Together, they set out a path that we believe is consistent with the Paris goals.
Improving people's lives
We recognize the importance of health and wellbeing, supporting livelihoods, treating people with respect and working to enhance diversity, equity and inclusion.
Our five people aims build on strong social impact and risk management requirements and guidance in our operating management system.
Caring for our planet
Our sustainability frame focuses on making a real difference to the environment in which we operate.
Our five planet aims cover the enhancement of biodiversity, water management, nature-based solutions including those that reduce or remove carbon emissions, circularity and sustainable purchasing.
Engaging stakeholders
Collaborating can help us achieve our strategic and sustainability goals. It can also take many different forms:
- commercial partnerships with cities and corporations to help them meet their decarbonization goals including forming strategic partnerships with Aberdeen, Houston and Microsoft in 2020
- shared initiatives to raise standards and set new sustainability benchmarks
- investor engagement
- joint advocacy
- knowledge sharing and learning.
Our values and foundations
Our commitment to sustainability is longstanding, so the frame is built on strong foundations: our values, a focus on safety in all we do, a non-negotiable commitment to ethics and compliance in line with our code of conduct and creating value for stakeholders through the business we do.
Our values
Our values of safety, respect, excellence, courage and one team represent the qualitiesand actions we expect to see in bp. They inform the way we do business and the decisions we make, including those related to sustainability.
Ethics and compliance
We set high standards for ethics and compliance in line with our code of conduct.
Value creation
We create value for society in many different ways: through our products and services, as an employer and taxpayer, and as a supply chain participant or investor in local communities.
Safety
We have a focus on safety – it is our core value and sits at the heart of performance across bp. Everything we do relies upon the safety of our workforce and the communities around us.
Embedding sustainability
Working to make sustainability more integral to our thinking, decision making and actions:
- integrating sustainability more deeply into our governance and business processes, building on our existing environmental and social requirements on managing impacts and risks
- enhancing our employees’ capability and mindset
- building our digital capability and agility.
