The Carbon Mitigation Initiative (CMI) brings together fundamental science, technological development, policy frameworks and business principles to accelerate the pace of discovery and the application of solutions at scale. Projects include exploring the potential for increasing the volumes of the world’s carbon outputs currently stored in existing natural sinks, such as land and forests, and identifying the means to capture and store carbon at scale in new sinks in underground geological formations. Research findings are published at cmi.princeton.edu.
The Princeton initiative allows us to better assess the future resilience of our business and investments, not just in terms of understanding climate change but also the potential physical impacts our sites may face from factors such as changing weather and rising sea levels.
The long-term nature of this collaboration means we are better informed about the scientific uncertainties associated with carbon mitigation and fossil fuels as they change and become clearer over time. For example, the CMI’s work has shown that the earth’s natural carbon sinks could begin to reduce over time as emissions stabilize and reduce. Improving our understanding of these sinks has important implications for how we manage carbon from fossil fuels in the future.
We also play our part by contributing to the work of the CMI research teams. We bring experience from our pioneering onshore CO2 capture and storage project in Algeria and we provide data from oil and gas wells in North America that are no longer in use. This has made an important contribution to modelling by the CMI that indicates that less than 0.1% of CO2 injected into a suitable geological formation is likely to leak over a 50-year period.
Academic collaboration, like that with CMI and others, brings insight and critical challenge to our business strategy.
Other academic institutions we work with on the climate challenge include:
In 2016, BP’s not-for-profit carbon offsetting business celebrated a decade of helping customers offset their carbon emissions
In 2016, Air BP became the first aviation fuel supplier to achieve carbon neutrality for its into-plane fuelling services