Policy, advocacy and trade associations
We cooperate with governments, regulators and legislators on the development of policies that promote a secure, affordable and low carbon energy system
Our advocacy
The public policy environment sets the framework in which we operate, and it is undergoing significant change. Our advocacy work is informed by our positions on public policy. Our work in 2024 focused on several themes in support of our strategy and net zero ambition, including carbon pricing, and on policy frameworks that support growth in hydrogen, carbon capture and storage (CCS), renewables, decarbonizing transport (including EV charging) and bioenergy.
We continue to advocate in many other areas connected to bp’s strategy to grow our upstream (oil and gas) business, focus our downstream (customers and products) business and invest with discipline in transition activities.
Our activities 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.
Our high-level climate policy positions
In recognition of investor interest in this matter, we set out bp’s high-level climate policy positions in response to those specific areas of climate policy in the document below. These do not seek to be comprehensive. These policy positions help ensure that our advocacy and lobbying is conducted in line with the goals of the Paris agreement and our other policy positions.
The BP p.l.c. board approves the company’s strategy and its net zero ambition and aims. One of the matters within the remit of the board’s safety & sustainability committee is oversight of the effectiveness of implementation of bp’s sustainability frame, including the implementation of bp’s net zero ambition and associated aims and targets. In April 2023 the high-level climate policy positions set out below, as well as examples of bp’s climate-related advocacy activities, were provided to the committee for their consideration. At management level, bp’s issues & advocacy meeting and sustainability forum consider policy and advocacy issues and positions respectively.
Trade associations and industry initiatives
We believe that our participation in trade associations and industry initiatives brings significant benefits – fostering collaboration, and sharing learning and good practice.
Our priority is to exert influence within trade associations, but we may publicly dissent or resign our membership if there is material misalignment with them on high-priority issues.
We periodically assess the alignment of key associations with our 'our positions, including on climate.
In 2024 we reviewed 36 of our most significant trade associations memberships. We found that 29 associations aligned with our climate positions, and seven were partially aligned. ‘Partially aligned’ means that we disagreed on some positions, or that the trade association did not take a public stance on our seven climate positions covering the Paris Agreement, climate science, reducing emissions, carbon pricing, energy efficiency, technology, and carbon credits.
We plan to remain members of these seven ‘partially aligned’ associations and continue to make a strong case for action in support of good climate policy.