Reduce, improve, create
Our commitment to advance a low carbon future is underpinned and informed by our ‘reduce, improve, create’ (RIC) framework. This focuses on reducing greenhouse gas emissions in our own operations, improving our products to help our customers lower their emissions, and creating low carbon businesses that support the energy transition
In 2020 we plan to provide an update on the next phase of our framework.
Our RIC framework
Reducing
emissions in our operations
- Zero net growth in operational emissions out to 2025
- 3.5Mte of sustainable GHG reductions by 2025
- 0.2% industry leading targeted methane intensity
Our progress in 2019
Achieved zero net growth in operational emissions
Our total GHG emissions (operational) increased slightly in 2019 largely due to the major acquisitions at the end of 2018. This was countered by other emissions reductions. Total emissions were still below the adjusted 2015 baselineb.
1.4Mte of sustainable GHG reductions delivered in 2019 and 3.9Mte since 2016
We’ve met our 2018 target six years ahead of schedule.
Established a $100-million carbon fund for projects that deliver new greenhouse gas emissions reductions in our Upstream operations.
0.14% methane intensity
Tested remote methane emission monitoring in the UK North Sea, and continuous methane emission measurement at Khazzan in Oman. We intend to install methane measurement at all our major oil and gas processing sites by 2023.
Improving
our products
- Provide lower emissions gas
- Develop more efficient and lower carbon fuels, lubricants and petrochemicals
- Grow lower carbon offers for customers
Our progress in 2019
Successfully brought the Khazzan major project into production in 2017, and will be working to deliver first gas from Phase 2 by the end of 2020.
Started to use solar pumps instead of pneumatic gas pumps in our US onshore business.
Continued to scale up co-processing at our refineries, growing the volume of lower carbon bio-feedstock.
Developed CASTROL High Mileage OW-20 and CASTROL EDGE OW-16, our new engine oils with improved fuel economy and emissions system protection in North America.
Continued to offer customers globally the opportunity to purchase PTAir Neutral, the world’s first certified carbon neutral PTA.
Established more than 30 carbon neutral bp retail sites, offering a range of carbon neutral products and services.
Offset more than 1 million tonnes of carbon for the first time in 2019 through BP Target Neutral.
Increased the supply of BP Biojet, our sustainable aviation fuel, to 11 locations worldwide, in countries including Sweden, France and the US.
Creating
low carbon businesses
- Expand low carbon and renewable businesses
- $500 million invested in low carbon activities each year
- Collaborate and invest in the OGCI’s $1bn+ fund for research and technology.
Our progress in 2019
Expanded our biofuels business in Brazil by more than 50% through a joint venture with Bunge to create BP Bunge Bioenergia.
Began rolling out BP Chargemaster ultra-fast charging points across bp forecourts in the UK and piloted ultra-fast charging at Aral forecourts in Germany.
Started BP Launchpad, our scale-up factory, designed to help quickly grow disruptive technologies and business models which could become future bp business units.
Increased our stake in Lightsource BP to create a 50:50 joint venture. Since our initial investment in 2017, Lightsource BP has signed major projects across Europe, the Americas and Australia.
Invested a further $30 million in Fulcrum Bioenergy, a pioneer in making low carbon, low-cost transportation fuels from household waste.
Expanded our digital energy portfolio by investing in energy management with Grid Edge, in the UK and R&B in China. Both can help customers predict, control and optimize a building’s energy use.
Taken a leading role in the OGCI’s Net Zero Teesside project in the UK. Using integrated carbon capture, use and storage, the project aims to store the carbon dioxide emissions of the carbon-intensive industries situated within the Teesside industrial cluster.