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Governance

Energy with purpose means minimizing risk and maximizing efficiency

The board is responsible for the overall conduct of the group’s business, including oversight of our strategy and approach to the energy transition. It reviews and monitors performance against our strategy and low carbon ambitions and confirms that the processes for identifying and managing key risks, both financial and non-financial, are in place.
   

Board oversight of sustainability matters

The safety, environment, and security assurance committee (SESAC), one of our six board committees, reviews the processes that our executive team use to identify and mitigate operational and non-financial risk, including marine, wells, pipelines, major security incidents and cyber security. The committee works with the executive leadership team to embed safe and reliable operations.

Climate governance: management of climate-related matters in 2019
In 2019 SESAC held six meetings. The topics it discussed included the sustainability report and bp’s working practices in relation to modern slavery and related human rights.

Human rights governance 

SESAC has oversight of human rights, including reviewing our performance in assessing and managing risks associated with modern slavery.

 
The group operations risk committee reviews progress on managing the potential risks of modern slavery.
 
Our human rights working group, which is made up of representatives from across the business, considers current and emerging human rights risks of potential group significance. The group reviews existing and proposed management of such risks and escalates identified human rights risks to executive team level as necessary.
 
Business functions and local operations are responsible for implementing actions to help us meet our human rights policy commitments and relevant group requirements, such as providing channels for local communities to raise concerns.

Executive oversight of sustainability

The assessment and management of climate-related issues are embedded in bp at various levels, with delegated authority from the board. The executive team discussed climate-related matters at each of its 11 meetings in 2019, including the development of bp’s net zero ambition and aims before these were presented to the board. The executive team is supported by our senior level leaders and their respective teams, which provided dedicated business andfunctional expertise focused on climate and related areas. They include our carbon management team, safety and operational risk teams, economics team and group policy.

 
We foster close alignment between group, business and function leaders through a number of bodies and forums, including carbon steering committees for group, upstream and downstream.