We worked with the UN, industry, academia and other organizations to extend the UN Framework Classification for Resources used to assess petroleum and minerals to include renewables.
This will enable companies to make plans in which renewable and fossil fuel resources are considered on a similar measure – barrels of oil equivalent. This also helps investors assess organizations and for governments and other agencies to develop an overall view of a country or region’s energy resources.
The framework takes account of the technical and commercial maturity, as well as the social and environmental impact of renewables projects and their expected recoverability, in a comparable way to fossil fuel resources. This is possible because – although renewables are potentially infinite – the energy obtained from renewable projects is governed by a similar range of technical and economic factors as for conventional resources.
BP led the development of the resource classification for bioenergy and we are one of the first companies to test it for a real-world project in our Brazilian biofuels business. Using this classification, we have estimated that the commercial1 bioenergy resources for our three Brazilian sugarcane ethanol plants2 is 187.0 mmboe3 4 of cumulative ethanol and power production that goes to the market over the expected asset lifetimes.5
There is the potential to see some further upside through additional projects and further efficiency improvements. For example we estimate volumes could be increased by over 25% if sugar and non-sales volume of power were converted into saleable bioenergy products.
The assessment demonstrates the potential that renewable energy has in contributing to the energy resource base, as well as providing useful insights for opportunities to further extend the commercial resource base.
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
BP Target Neutral develops carbon neutral products and services for BP’s customers and partners. Since 2006 we have offset 3 million tonnes of carbon