Meeting the climate challenge requires efforts by all – governments, companies and consumers. Working together can accelerate action. Here are just 10 of the initiatives in which BP is participating
Oil and Gas Climate Initiative (OGCI), is a voluntary, CEO-led industry initiative that aims to catalyse meaningful action on climate change through best practice sharing and collaboration. Combined, OGCI members produce over one-tenth of the world’s energy supply. Activities have focused on improving the understanding and reliability of methane data, as well as investigating ways to realize the promise of carbon capture, use and storage. In October, OGCI announced investments in three projects: Solidia Technologies, a US-based company working to lower emissions in cement production; Achates Power, a company developing more efficient vehicle engines; and a project that aims to design a full-scale gas power plant with carbon capture and storage, including industrial CO₂ sequestration capability.
Carbon Pricing Leadership Coalition
This group brings together senior representatives from government, the private sector and civil society to expand the use of carbon pricing. Its goal is to promote policies that can maintain competitiveness, create jobs, encourage innovation and deliver meaningful emissions reductions.
Climate and Clean Air Coalition – Oil and Gas Methane Partnership
Climate and Clean Air Coalition (CCAC) is committed to reducing short-lived climate pollutants. BP is a member of CCAC’s Oil and Gas Methane Partnership, which aims to reduce methane emissions in the oil and gas sector. Participating companies analyse sources of methane to evaluate cost-effective technologies for methane emissions reduction.
Methane Guiding Principles
BP is a signatory to a set of principles for reducing methane emissions across the natural gas value chain. The principles were developed by a coalition of industry, institutions, academics and NGOs – including Environmental Defense Fund, IEA, OGCI, Sustainable Gas Institute and UN Environment.
Climate Leadership Council
BP is a founding member of the Climate Leadership Council, which promotes a carbon dividends framework as the most effective, equitable and politically viable climate solution. The founding members include 11 global 150 companies from the energy, manufacturing, automotive, banking, consumer goods, food and beverage and healthcare sectors.
Ford and other vehicle and equipment manufacturers
BP works in partnership with manufacturers to achieve more efficient use of our products. In Europe, for example, Ford’s EcoBoost engines – used in the Fiesta, Focus, Mondeo and other models – are engineered with specially formulated advanced Castrol oils, which help to improve fuel efficiency and reduce emissions.
Carbon Mitigation Initiative – Princeton University
This initiative brings together scientists, engineers and policy experts to design carbon mitigation strategies that are safe and effective as well as affordable. Their research covers carbon science, carbon technology, carbon integration and outreach.
Zero Routine Flaring by 2030 initiative – World Bank
This initiative brings together governments, oil companies and development institutions that recognize that routine flaring is unsustainable from a resource management and environmental perspective. It aims to eliminate routine flaring from oil assets by the year 2030.