We have set out our low carbon ambitions of reducing emissions in our operations, improving our products and creating low carbon businesses. Here is information on each of the targets and aims that support our ambitions
This is just the latest step in our 20-plus year journey – but a significant one, and one we plan to build on in the years to come.
We'll review our targets and aims regularly so we can keep them up-to-date with changes in our portfolio, protocols and other factors.
Zero net growth in our operational emissions out to 2025
We’ll offset any increase in our operational emissions above 2015 levels that’s not covered by our sustainable reductions activity. This means that, out to 2025, we’ll have no net increase in our carbon footprint, even as our production grows.
- We have chosen 2015 as the base year for this target, to align with the date of the historic Paris agreement.
- This target applies to the greenhouse gas emissions we report within our operational control boundary. That’s because this is where we have the highest ability to control and influence.
- We include direct emissions (scope 1) in this metric.
We consider carbon offsetting a valuable supplement to our own emissions reduction activities and is essential for reaching the Paris goals. It is an effective, flexible and low-cost way for society to reduce global greenhouse gas emissions. In particular, natural carbon solutions through land use and forestry can deliver large scale emissions reductions.
- See Carbon offsetting for more information.
3.5 million tonnes of sustainable GHG emissions reductions by 2025
Our operating businesses will deliver this through improved energy efficiency, fewer methane emissions and reduced flaring – all leading to permanent, quantifiable GHG reductions. We only count a sustainable emissions reduction in the year it occurs, but we expect to get the benefit of the reduction every year after that.
- We have chosen the end of 2015 as the starting point, to align with the date of the historic Paris agreement.
- This target applies to greenhouse gas emissions we report within our operational control boundary. That’s because this is where we have the highest ability to control and influence.
- We include direct and indirect emissions (scope 1 and 2) in this metric.
Our approach to quantifying emission reductions is broadly consistent with guidance set out by industry association IPIECA and by the WBCSD/WRI GHG protocol.
- See Limiting emissions for more information.
Targeting a methane intensity of 0.2%, and holding it below 0.3%
This target includes the methane emissions from our operations where gas goes to market as a percentage of that gas. In 2017, this accounts for more than 90% of methane emissions from our operated oil and gas assets.
We don’t include methane emissions that result from gas that is only reinjected, recycled or associated with assets where BP doesn’t produce the gas.
- This target applies to methane emissions we report within our operational control boundary. That’s because this is where we have the highest ability to control and influence.
- We include direct emissions (scope 1) in this metric.
- See Tackling methane for more information.
Provide lower emissions gas
We are pursuing or considering lower emission opportunities across the various stages of the gas value chain. This could include:
- Production – efforts such as the use of low bleed pneumatics, energy efficiency, flaring reduction and carbon capture, utilization and storage to reduce methane and other GHG emissions in our operations.
- Supply – ways to lower the fugitive and combustion emissions during the transportation and use of gas.
- Our products – investment into products such as biogas – which is renewable gas from food and agricultural waste – and hydrogen.
- See Natural gas for more information on our activities.
Develop more efficient and lower carbon fuels, lubricants and petrochemicals
We are improving our products to help consumers lower their emissions. We provide customers with fuel for transport, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging.
Grow lower carbon offers for customers
We have carbon offsetting programmes to enable individuals and business customers reduce their carbon footprint.
We’ve developed more than 20 carbon neutral products and services through the use of advanced technology and our Target Neutral offsetting programme.
We’re also looking at ways to help our national partners navigate the energy transition – through our natural gas, renewables, solar and offsetting businesses.
See bp.com/targetneutral for more information.
Expand low carbon and renewable businesses
BP has been in the renewables business for more than 20 years – we’re one of the largest operators among our peers and we’re expanding as we see more opportunities. Our focus areas are biofuels, biopower, wind and solar.
We also plan to invest around $200 million every year to help incubate and grow lower carbon solutions. We
$500 million invested in low carbon activities each year
Our near-term plan is to allocate at least $500 million of expenditure a year for lower carbon start-ups, ventures and renewables. We view these activities as core to our strategy – with the potential to make a real contribution to our future.
The $500 million includes the $200 million for low carbon solutions with the balance going towards our renewables businesses and acquisitions. This does
Collaborate and invest in OGCI’s $1 billion fund for research and technology
The Oil and Gas Climate Initiative – currently chaired by BP’s group chief executive Bob Dudley – brings together 10 oil and gas companies working to reduce the GHG emissions from our industry’s operations and the use of our products
Their $1billion fund invests in promising technologies and business models that have the potential to significantly reduce greenhouse gas emissions. Their
areas of focus are carbon capture, usage and storage; reducing methane emissions; reducing transport emissions; and improving energy efficiency in industry.
- Find out more at www.oilandgasclimateinitiative.