1. Home
  2. Sustainability
  3. Getting to net zero
  4. Low carbon investment

Low carbon investment

Our aim 5 is to increase the proportion of investment we make into our non-oil and gas businesses
Underside of bifacial panel

Over time, as investment goes up in low and no carbon, we see it ‎going down in oil and gas.

We’ve already started the switch towards clean energies. We made ‎low carbon investments totalling $750 million in 2020 and more ‎than $500 million in 2019, with new projects agreed coming ‎onstream.‎

How we will meet our aim

We’ll focus our low carbon investment on::


  • low carbon electricity generated from low carbon energy sources – including ‎wind and solar
  • bioenergy
  • hydrogen and carbon capture, use and storage (CCUS).‎


We’ve been building our bp wind energy business for more than 10 years and it now ‎has a potential gross capacity of 9.1GW.‎

In January 2021 we completed formation of a strategic US offshore wind partnership ‎with Equinor to pursue offshore opportunities in the US, including the purchase of ‎‎50% in the Empire Wind and Beacon Wind projects.‎

In February 2021, bp and German utilities partner EnBW were awarded preferred ‎bidder status on two highly advantaged leases in the UK. The leases, both located in ‎the Irish Sea, offer a combined potential generating capacity of 3GW, the maximum ‎award possible under the rules of the round, and a 60-year lease life. Once ‎operational, this generating capacity would be sufficient to power more than 3.4 ‎million UK households with clean electricity.‎


Lightsource bp, in which we hold a 50% interest, is a global leader in the development ‎and management of solar energy projects. The business has maintained its growth throughout 2020, developing 1.4GW gross to ‎final investment decision. It also added around 6GW gross to its strong pipeline of ‎‎17GW new business and is investing in leading-edge technology to meet its ‎customers’ needs, including bi-facial panels and advanced tracking systems.‎


Our bioenergy joint venture in Brazil, bp bunge bioenergia, has continued its ‎integration processes throughout 2020, despite the impact of the COVID-19 pandemic. ‎All of its operated sites are now certified by RenovaBio and can emit and trade ‎decarbonization credits known as CBIOs.

In 2020, bp bunge bioenergia had an annual crushing capacity of 28 million tonnes ‎and exported 1,232 GWh to the Brazilian grid.‎


bp also has produces biogas and is already one of the largest suppliers of renewable ‎natural gas into the US transportation sector through our JV with Aria Energy. We’re also of the leading sustainable aviation ‎fuel marketers, and at the end of 2020, we had supplied 18 airports in six countries.

In 2021 we announced our strategic partnership with Qantas to jointly explore ‎opportunities to reduce carbon emissions in the aviation sector, including the ‎potential use of advanced sustainable fuels.‎

Helping to create the world’s first clean energy industrial sector


In the UK bp is playing a lead role in the Net Zero Teesside (NZT) and Northern Endurance Partnership (NEP) projects. These projects aim to deliver the UK’s first gas-fired power station with CCUS, and decarbonize a range of carbon-intensive businesses across Teesside, creating what would be the UK’s first net zero industrial cluster.

The creation of NEP in 2020 saw us join forces with five other energy companies – Eni, Equinor, National Grid, Shell and Total – to develop shared offshore CCUS infrastructure in the UK North Sea, which will serve both NZT, and Zero Carbon Humber (ZCH), which is a consortium of leading energy and industrial companies and academic institutions working to create a net zero cluster in the Humber region.

If successful, NEP, NZT and ZCH would help to decarbonize nearly 50% of the UK’s industrial cluster emissions.

Engineer working on the Net Zero Teesside project

Hydrogen and carbon capture, use and storage

Hydrogen can play a key role in decarbonizing power, industry and heavy goods ‎vehicle transport. It complements our existing businesses and capabilities. We are ‎exploring the production of both green hydrogen (electrolysis of water using ‎renewable power) and blue hydrogen (extracted from natural gas and the CO2 is ‎captured and stored), with blue hydrogen production enabled by the scale-up of ‎carbon capture use and storage (CCUS).‎

We’ve signed a Letter of Intent with Ørsted at Lingen refinery to explore the potential ‎of building a green hydrogen facility and in 2020 we announced a feasibility study in Australia ‎with ARENA (Australian Renewable Energy Agency) to explore the use of solar energy ‎to power the production of green hydrogen, which in turn could be used to create ‎green ammonia for a clean energy carrier, targeted at domestic and export markets.‎