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. These emissions were 54.4MtCO2e in 2019. We are targeting a 20% reduction in our aim 1 operational emissions by 2025 and will aim for a 50% reduction by 2030 against our 2019 baseline.
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 based on bp’s net share of production (around 361MtCO2 in 2019). It is associated with the CO2 emissions from the assumed combustion of upstream production of crude oil, natural gas and natural gas liquids (NGLs).
We are now targeting a 10-15% reduction by 2025 and will aim for 20-30% by 2030 against our 2019 baseline.
Our aim 3 is to reduce to net zero the carbon intensity of the energy products we sell by 2050 or sooner.
This aim applies to the average carbon intensity of the energy products we sell. It is estimated on a lifecycle (full value chain) basis from the use, production, and distribution of sold energy products per unit of energy (MJ) delivered.
In February 2022 we expanded aim 3 to include physically traded energy products as well as marketed sales. In future, it may also cover certain other products, for example, those associated with land carbon projects. We are reporting on this basis for the first time this year and have recalculated our 2019-2021 data accordingly.
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 of our operations.
And we will work to influence our joint ventures to set their own methane intensity targets of 0.2%.
Our aim 6 is to more actively advocate for policies that support net zero, including carbon pricing.
We have redirected resources to promote well-designed climate policies. In the future, any corporate advertising will be to push for progressive climate policy, communicate our net zero ambition or support delivery of our strategy, invite ideas, or build collaborations.
We will continue to run recruitment campaigns and advertise our products, services and partnerships – although we aim for these to increasingly be low carbon.
Our aim 7 is to incentivize our global workforce to deliver on our aims and mobilize them to become advocates for net zero.
This will include continuing to allocate a percentage of remuneration linked to emissions reductions for leadership and around 32,000a employees.
Our aim 8 is to set new expectations for our relationships with trade associations around the globe.
We are committed to getting bp to net zero and we make the case for our views on climate change within the associations we belong to. We are transparent where we differ and where we can’t reach alignment, we are prepared to leave.
Our aim 9 is to be recognized as an industry leader for the transparency of our reporting.
On 12 February 2020, we declared our support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
We intend to work constructively with the TCFD and others – such as the International Sustainability Standards Board (ISSB) – to develop good practices and standards for transparency.
Our aim 10 is to provide integrated clean energy and mobility solutions.
Our regions, corporates and solutions team is working to help countries, cities and corporations around the world decarbonize.
Our aim 11 is to develop enough clean energy to benefit more than 36 million people.
By 2030 we aim to have developed 50GW renewable generating capacity – broadly enough to meet the power needs of 36 million people – including exploring ways to make clean energy accessible to those who need it most.
Our aim 12 is to support a just energy transition which advances human rights and education.
We support the Paris Agreement, which recognizes the importance of a just transition – one that delivers decent work, quality jobs and supports the livelihoods of local communities.
To support a just energy transition, we aim to collaborate with key stakeholders and other industries to support the advancement of human rights through the transition. We will do this by developing just transition plans in priority areas and helping the workforce to develop skills for the future energy system, taking a socially inclusive approach. We aim to build stronger relationships with local communities, based on mutual trust and respect, and will support civic dialogue, greater transparency and capacity building, where we work.
Our aim 13 is helping more than one million people build sustainable livelihoods and resilience.
We will support the communities where we work to build greater resilience and more sustainable livelihoods. We will focus our social investment in support of our sustainability aims. Through these actions we aim to reach more than one million people. We will also support our workforce through quality jobs with fair conditions.
Our aim 14 is greater diversity, equity and inclusion for our workforce and customers, and to increase supplier diversity spend to $1 billion.
We want our workforce and customers to experience greater equity – fair treatment according to everyone’s different needs and situations – while also helping our partners in the ‘bp ecosystem’ do the same. We will aim to do this by improving workforce diversity and workplace inclusion, making customer experiences more inclusive, and increasing our annual expenditure with diverse suppliers, including female and under-represented or minority groups, to $1 billion by 2025.
Our aim 15 is to enhance the health and wellbeing of our employees, contractors and local communities.
We will support them to proactively improve their physical and mental health – through innovative programmes, partnerships and offers.
Our aim 16 is making a positive impact through our actions to restore, maintain and enhance biodiversity where we work.
We will do this by putting our biodiversity position into action. In doing so, we expect that from 2022 all new bp projects in scope will have plans in place aiming to achieve net positive impact (NPI), with a target to deliver 90% of actions within five years of project approval. We also aim to enhance biodiversity at our major operating sites and support biodiversity restoration and sustainable use of natural resource projects in the countries where we have current or growing investments.
We will also continue to work with others, including our joint ventures, to influence and promote collective action on biodiversity.
Our aim 17 is becoming water positive by 2035.
We aim to replenish more freshwater than we consume in our operations. We will do this by being more efficient in operational freshwater use and effluent management, and by collaborating with others to replenish freshwater in stressed and scarce catchment areas where we operate.
Our aim 18 is championing nature-based solutions and enabling certified natural climate solutions.
We aim to use nature-based solutions (NbS) to deliver value and contribute to our people and planet aims in our operations and through our business activities. We will also support the development of scalable markets for certified natural climate solutions that help the world reduce deforestation, get to net zero and deliver environmental and social benefits.
Our aim 19 is to unlock new sources of value through circularity.
We want to keep materials in use for longer and value them throughout their lifecycle. We’ll do this by using resources responsibly and embracing circular principles in design, operations and decommissioning and aim to work with partners and our joint ventures to create opportunities.
Our aim 20 is developing a more sustainable supply chain.
We’ll work with our key suppliers to embed sustainable practices, focusing on reducing greenhouse gas emissions and increasing the circularity of what we buy.