BP is looking to a lower carbon future, building on activity over many years - from championing emissions trading schemes to launching its own alternative energy business
- BP’s chief executive, Lord Browne, calls for precautionary action to cut greenhouse gas (GHG) emissions.
- BP sets target to cut emissions from our operations to 10% below 1990 levels by 2010. We met this target in 2001.
- BP pilots an internal emissions trading scheme, helping to demonstrate the viability of emissions trading for the industry.
- BP is a founding member of the International Emissions Trading Association.
- BP initiates the CO2 Capture Project with other companies and governments, to develop carbon capture and storage (CCS) technology.
- BP partners with Princeton University on the Carbon Mitigation Initiative, set up to find solutions to the carbon and climate problem.
- Tsinghua-BP Clean Energy Research and Education Center launches in China.
- BP and partners launch a CCS project at the In Salah gas field in Algeria.
- BP launches its Alternative Energy business.
- BP launches Target Neutral, our not-for-profit carbon offsetting programme for customers.
- BP begins using a carbon price in investment decisions.
- BP sets up the Energy Sustainability Challenge, partnering with 15 universities.
- BP becomes the largest operator of Brazil biofuels among our oil and gas peers.
- BP starts participating in the Oil and Gas Climate Initiative.
- BP endorses the World Bank carbon pricing statement.
- BP signs up to the World Bank Zero Routine Flaring by 2030 initiative.
- BP joins the Climate and Clean Air Coalition’s Oil and Gas Methane Partnership.
- BP launches Zhuhai 3 petrochemical plant, delivering 65% lower GHG emissions than comparable plants.
- BP completes detailed assessments of many of its upstream operations.to identify primary sources of methane emissions.
- BP is world’s first supplier of commercial jet biofuel using existing infrastructure at Norway’s Oslo airport..
- BP launches PTAir - with around a 30% lower carbon footprint than average European purified terephthalic acid production.
Being part of the solution
With the Paris Agreement, almost 200 governments agreed to hold temperature rise to well below 2oC and to pursue efforts to limit temperature rise to 1.5oC. This has energized countries, companies and consumers to take action.
As scientists and engineers, BP recognizes the urgency of the climate challenge - and we intend to be part of the solution. We are calling for a price on carbon, increasing gas in our upstream portfolio, investing in renewables and low carbon innovation, and pursuing energy efficiency.
We are also collaborating with others to help address this global challenge. As one example, the Oil and Gas Climate Initiative - currently chaired by our 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. The initiative’s current focus areas are minimizing methane emissions and accelerating the deployment of carbon capture, use and storage.