We prohibit the use of bp funds or resources to support any political candidate or party. We recognize the rights of our employees to participate in the political process and these rights are governed by the applicable laws in the countries where we operate. Our stance on political activity is defined in our code of conduct.
In the US we provide administrative support for the bp employee political action committee (PAC), which is a non-partisan committee that encourages voluntary employee participation in the political process. All bp employee PAC contributions are reviewed for compliance with federal and state law and are publicly reported in accordance with US election laws.
The bp employee political action committee has paused all contributions for six months as of January 2021. During this time the PAC will re-evaluate its criteria for candidate support.
Our aim 6 is to more actively advocate for policies that support net zero, including carbon pricing.
We co-operate and engage with governments, regulators and legislators in the development of proposed policies relevant to our business. These policies can affect us in a wide range of areas – from tax and employment issues to safety or the energy transition. This co-operation and engagement may include direct lobbying on specific policy proposals by our own employees, through broader advocacy via research work or supporting think tanks, to communications activities and advertising.
We believe that ambitious climate policies will be essential to enable the world to meet the Paris climate goals, including achieving global net zero greenhouse gas (GHG) emissions. In our aim 6 we have publicly stated our aim to more actively advocate for policies that will support net zero, including carbon pricing.
In February 2021, the Climate Action100+ investor initiative issued the Climate Action 100+ Net Zero Company Benchmark. bp welcomes the benchmark as an important transparency initiative. One of the indicators in the benchmark (Indicator 7) is related to Climate Policy Engagement and specifically to companies’ positions on a number of specific areas of climate policy. In recognition of investor interest in this matter, we set out bp’s high-level public policy positions in response to those specific areas of climate policy in the document below. These do not seek to be comprehensive.
We’re supporting well designed carbon pricing in the US. For example, on the east coast we’ve actively advocated for the Transportation and Climate Initiative (TCI) since 2019. TCI took a step forward in 2020, when the governors of Connecticut, Massachusetts and Rhode Island, together with the mayor of the District of Columbia, signed a memorandum of understanding, while several other states signed letters committing to further consideration of the initiative. TCI puts a price on the largest source of greenhouse gas emissions on the east coast and aims to reduce them by 20-25% across the region, while also creating jobs, boosting the economy and modernizing infrastructure TCI could be implemented from January 2022 onwards as states complete their own rulemaking and pass legislation. In addition to TCI, we have supported other initiatives in the US, including:
We’re also working in cross-industry initiatives and partnerships to promote policies that support net zero, such as the NCS Alliance, the Carbon Pricing Leadership Coalition, and the Taskforce on Scaling Voluntary Markets.
Our aim 8 is to set new expectations for our relationships with trade associations around the globe.
We belong to industry associations that offer opportunities to share good practices and collaborate on issues of importance to our sector; from contributing to the development of equipment, operating and safety standards through to working with regulators, knowledge sharing and professional development.
In February 2020 we announced our aim 8, to set new expectations for our relationships with trade associations around the globe. We will make the case for our views on climate change and we’ll be transparent where we differ. And where we can’t reach alignment, we will be prepared to leave. We also published our first Trade Associations review. As a result of this review, we left three associations that we deemed to be not aligned with our views on climate, and our CEO wrote to the others in scope to explain our support of the Paris Agreement, our net zero ambition and our support for transparency.
We understand that positions taken on any topic by a trade association are often a compromise or majority view, arrived at through their individual decision-making processes, with the potential for widely differing views among their membership. Consequently, we may share our perspective on emerging policy themes with a specific trade association, but as one member among many, we do not expect to dictate what they write or say.
We monitor our memberships of associations, and the positions they take. Where our views cannot be reconciled, we may share details here.