Reimagining energy for people and planet
Sustainability at bp is about creating value by connecting the business opportunities of the energy transition with our aims for people and our planet
Rooting our new strategy in sustainability
“We have a lot more to learn, but our experience so far is that our purpose – reimagining energy for people and our planet – can help us diversify and decarbonize bp and at the same time create real value and returns for our shareholders.”
Bernard Looney
Chief executive officer, bp
March 2022
Embedding sustainability into the way we do business
“Approaching strategy and sustainability in an integrated way is enabling us to prioritize and capture the opportunities in the energy transition – those best aligned to bp’s capabilities and strategic objectives.”
Giulia Chierchia
EVP, strategy, sustainability & ventures (SS&V)
March 2022
2021 sustainability highlights
Net zero operations
35%
Reduction in absolute emissions against our 2019 baseline
Enhancing biodiversity
Net positive impact
Methodology developed
Net zero production
16%
Reduction in absolute emissions against our 2019 baseline
More clean energy
4.4GW
Renewable energy equivalent developed to FID
City or region partnerships
3
Working in partnership with Houston, Aberbeen and the Valencia region in Spain
Low carbon investments
~$2.2bn
Up from around $750m in 2020
Transparency leader
A-
Score received in CDP Climate 2021
Our sustainability frame
Our purpose is reimagining energy for people and our planet. Our sustainability frame underpins our strategy to become an integrated energy company and translates our purpose into action. It sets out aims in the areas where we believe we can make the biggest difference for bp, our stakeholders and society.
Five aims to get bp to net zero
We launched our five aims in February 2020. Given their maturity compared with the other sustainability aims that we launched in 2021, we have made progress against the majority of our targets.
Aim 1: net zero operations
2021 performance
35%
cumulative reduction in emissions against the 2019 baseline (absolute basis)
(2020 16%)
Aim 2: net zero production
2021 performance
16%
cumulative reduction in emissions against the 2019 baseline (absolute basis)
(2020 9%)
Aim 3: Net zero sales
2021 performance
0%
cumulative reduction in average emissions intensity of marketed energy products against the 2019 baseline
(2020 <1%)
Aim 4: reducing methane
2021 performance
0.07%
calculated methane intensity of our operations
(2020 0.12%)
Aim 5: more $ for new energies
2021 performance
~$2.2 billion
low carbon investments
(2020 $750 million)
Five aims to help the world get to net zero
We launched our five aims to help the world get to net zero in February 2020, alongside five aims to get bp to net zero. These aims are primarily qualitative in nature but we have made progress in line with our aims.
Aim 6: advocating
Advocacy hub launched to inform stakeholders
Aim 7: incentivizing employees
Remuneration linked to emissions reductions for leadership and around 22,000 employees
Aim 8: aligning associations
Assessed association memberships results published in our trade association report
Aim 9: transparency leader
Expanded TCFD disclosures using the WBCSD Scenario catalogue
Aim 10: clean cities and corporates
New partnerships announced with cities and corporates
Five aims to improve people’s lives
We have made progress against our aims, including benchmarking and agreeing focus areas. This is a key part of the systematic, considered and collaborative approach we are taking to deliver our aims.
Aim 11: more clean energy
4.4GW renewable energy equivalent developed to FID by end of 2021 towards our 50GW by 2030 aim
Aim 12: just transition
Building skills for the future energy system
Aim 13: sustainable livelihoods
Fair wage benchmarking completed to increase our understanding of fair wages
Aim 14: greater equity
Global DE&I scorecard launched to help bp entities progress diversity, equity and inclusion
Aim 15: enhance wellbeing
Employee portal and worldwide physical activity challenges launched
Five aims to care for our planet
We have made progress in building the foundations and methodologies needed to deliver our planet aims, with some quite advanced and others at earlier stages of development. This is in line with our systematic, considered and collaborative approach.
Aim 16: enhancing biodiversity
Net positive impact methodology developed
Aim 17: water positive
Water replenishment partnership set to be launched in 2022
Aim 18: championing nature-based solutions
Finite Carbon forest offset programme launched in Canada
Aim 19: unlock circularity
New waste metrics piloted with plans to be reported on using 2022 data
Aim 20: sustainable purchasing
Sustainability factors trialled in our major purchasing decisions
