This Sustainability Report and bp.com/sustainability concentrate on performance and activities from 1 January to 31 December 2016
We aim to report on all aspects of our business, including joint ventures where we are the operator. Where appropriate, we also seek to provide an overview of joint venture activities where we are not the operator, but where we have significant influence on our partners.
We validate the content with our external assurance provider, Ernst & Young, whose remit includes commenting on the prominence given to each topic and identifying any gaps.
We apply the Global Reporting Initiative’s G4 guidelines, and we use guidance from our industry association IPIECA. We also report against the UN Global Compact’s 10 principles on human rights, labour, environment and anti-corruption.
BP Sustainability Report 2016 and bp.com/sustainability contain certain forward-looking statements with respect to the financial condition, results of operations and businesses of BP and certain of the plans and objectives of BP with respect to these items. In particular, among other statements, BP’s outlook on global energy trends to 2035 and its plans in connection therewith, plans relating to the diversity of our workforce, plans and expectations regarding BP’s advanced and proprietary technologies and techniques and GHG emissions and intensity, expectations regarding the commercialization and sustainable production of biofuels and use of wind energy, the timing, composition and production of current, planned and future projects, expectations regarding the oil price environment, plans regarding support of labour rights, training, local development and biodiversity and expectations regarding future regulatory developments, are forward looking in nature.
By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will or may occur in the future and are outside the control of BP. Actual results may differ materially from those expressed in such statements, depending on a variety of factors, including the specific factors identified in the discussions accompanying such forward-looking statements; the receipt of relevant approvals; the timing and level of maintenance and/or turnaround activity; the timing of bringing new fields onstream; the timing, quantum and nature of certain divestments; future levels of industry product supply, demand and pricing; OPEC quota restrictions; PSA effects; operational and safety problems; potential lapses in product quality; economic and financial market conditions generally or in various countries and regions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; regulatory or legal actions; the actions of prosecutors, regulatory authorities and courts; delays in the processes for resolving claims; exchange rate fluctuations; development and use of new technology; recruitment and retention of a skilled workforce; the success or otherwise of partnering; the actions of competitors, trading partners, creditors, rating agencies and others; the actions of contractors; our access to future credit resources; business disruption and crisis management; the impact on our reputation of ethical misconduct and noncompliance with regulatory obligations; trading losses; major uninsured losses; natural disasters and adverse weather conditions; changes in public expectations and other changes to business conditions; wars and acts of terrorism, cyber-attacks or sabotage; and other factors discussed elsewhere in this document and under ‘Risk factors’ in our Annual Report and Form 20-F 2016 as filed with the US Securities and Exchange Commission.
Material is used within this document to describe issues for voluntary sustainability reporting that are considered to have the potential to significantly affect sustainability performance in the view of the company and/or are expected to be important in the eyes of internal or external stakeholders. Material for the purposes of this document should not, therefore, be read as equating to any use of the word in other BP p.l.c. reporting or filings. BP Annual Report and Form 20-F 2016 may be downloaded from bp.com/annualreport. No material in this Sustainability Report forms any part of that document. No part of this Sustainability Report or bp.com/ sustainability 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. Unless otherwise stated, the text does not distinguish between the activities and operations of the parent company and those of its subsidiaries.