By 2050 or sooner, we aim to be net zero on an absolute basis across our entire operations and in our upstream oil and gas production. We’ve also set the same timeframe to achieve a 50% cut in the carbon intensity of the products we sell.
Our aim 1 is to be net zero across our entire operations on an absolute basis by 2050 or sooner.
This aim relates to our Scope 1 (from running the assets within our operational control boundary) and Scope 2 (associated with producing the electricity, heating and cooling that is bought in to run those operations) GHG emissions on an operational control boundary. These emissions were around 55MteCO2e in 2019. We’re targeting a 20% reduction in our aim 1 operational emissions by 2025 and will aim for 30-35% reduction by 2030 against our 2019 baseline.
We’re continuing to focus on reducing emissions from our operations – this is a core priority for our production & operations business.
We continue to make progress on reducing operational emissions through implementing energy efficiency measures, reducing flaring and managing methane. Portfolio changes – including acquisitions, divestments and new projects – will also have an impact on our aim 1 emissions. We do not intend to rely on offsets to meet our net zero targets or aims out to 2030.
Our US onshore operations, bpx energy, delivered sustainable emissions reductions totalling over 245kteCO2e in 2020 – driving operational efficiencies and substantively reducing our methane emissions profile.
Projects delivered included construction and electrification of centralized facilities, electrification of certain existing facilities and switching to solar power for heat trace pumping.
Our assets in the Permian region delivered 94kteCO2e of SERs in 2020. The largest of these projects was construction and delivery of a centralized facility and electrification of certain operations combined with use of renewable electricity.
Our aim 2 is to be net zero on an absolute basis across the carbon in our upstream oil and gas production by 2050 or sooner.
This is our Scope 3 aim and is on a bp equity share basis excluding Rosneft (around 361 MteCO2 in 2019)a. It is associated with the CO2 emissions from the combustion of upstream production of crude oil, natural gas and natural gas liquids (NGLs). We are targeting a 20% reduction by 2025 and will aim for 30-40% by 2030 against our 2019 baseline.
Our aim 2 is directly linked with reduction in oil and gas production. We’re taking action to achieve this aim through portfolio management, including divestments and decarbonization. Blue hydrogen and CCUS are also strategically important areas for bp.
Our aim 2 refers to estimated CO2 emissions from the assumed combustion of bp’s net share upstream production of crude oil, natural gas and natural gas liquids (NGLs), excluding bp’s share of Rosneft production and assuming that all produced volumes undergo full stoichiometric combustion to CO2. Emissions are broadly equivalent to the GHG Protocolb, Scope 3, category 11, with the specific scope of upstream production volumes. This metric aligns with our aim to be net zero across the carbon in our upstream oil and gas production.
Our aim 3 is to cut the carbon intensity of the products we sell by 50% by 2050 or sooner. This is a life cycle carbon intensity approach, per unit of energy. It covers marketing sales of energy products* and potentially, in future, certain other products, for example, associated with land carbon projects (79.3gCO2e/MJ in 2019)b.
We’re targeting a 2025 reduction of 5% and aim to reduce it by 15% by 2030, against our 2019 baseline. This aim relates to the rate of GHG emissions estimated on a life cycle basis from the use, production and distribution of marketed energy products per unit of energy (MJ) delivered.
We aim to improve the carbon intensity of our marketed products by providing products with lower life cycle emissions, including biogas, for power generation; increasing supply of low carbon electricity, bioenergy; introducing carbon capture, use and storage technology; developing more efficient and lower carbon fuels, including green hydrogen; and growing low carbon offers tohelp customers reduce their carbon emissions. Our investment in low carbon energies, including low carbon electricity and energy under aim 5 is integral to our aim 3 and the 15% reduction in the life cycle carbon intensity of our marketed products that we’re aiming for by 2030.
* Please see the basis of reporting for the list of energy products covered at bp.com/basisofreporting.
|Average emissions intensity of marketed energy products||79.3||78.8|
|Refined energy products||92.8||92.6|
Our aim 4 is to install methane measurement at all our existing major oil and gas processing sites by 2023, publish the data, and then drive a 50% reduction in methane intensity a of our operations. And we will work to influence our joint ventures to set their own methane intensity targets of 0.2%.
By the end of 2023 we will roll out a new measurement approach to relevant sites. This new approach, developed in 2020, comprises a prioritized hierarchy of options for making more use of methane measurement. Based on this new measurement approach we have set a 2025 target of 0.20% and have now moved away from a target based on general industry methodologies, such as calculating or estimating emissions using emission factors. We are focusing on achieving reductions across our key methane sources, including fugitives, combustion and flaring; and on producing a greater proportion of our gas from lower intensity operations. We are also investing in technology to reduce methane and improve our ability to measure it. We want to promote the increased use of methane measurement more widely across industry, but this will take time.
The deployment of new measurement technology represents a major step-change in our industry’s approach to detecting, quantifying and reducing methane emissions. Rolling out our new approach between now and 2023 will involve continued testing and initial deployment of measurement technologies and equipment for in-scope sites and businesses. To guide us, we have developed a methane measurement hierarchy. With technology to detect and measure methane evolving fast and different technologies possibly being better suitedt o different types of assets and geographies, a flexible approach allows us to move towards increased continuous site and source level measurement systems as more advanced technology becomes available. We will use the data gathered as we progress to set the baseline for further reductions. To fully establish this baseline globally we will need data from the global application of our measurement approach (expected late 2023/2024). We will provide further details in the future.
There are two challenges in tackling methane – the first is the identification and quantification of emissions – where some important technology is in its infancy. The second is finding ways to reduce emissions – where there is a lot of work happening across industry. We’re playing an active part in both and took some important steps in 2020.
We aim to be a very different kind of energy company by 2030 as we scale up investment in low-carbon, focus our oil and gas production and make headway on reducing emissions
We’ve set ambitious aims to reduce emissions, scale up renewables and invest more in low carbon
We’re committed to doing business ethically and transparently, using our values and our code of conduct to guide us