Sustainability report – 2020 highlights
"Profits or purpose need not be a choice - and instead can work together in service of all stakeholders."
Bernard Looney
Group chief executive
"Our new frame and aims will guide our work, focus our activities and propel us forward"
Giulia Chierchia
EVP, strategy and sustainability
Our new sustainability frame
Our sustainability frame, which underpins our strategy, puts our purpose into action. It takes an integrated approach while focusing on the areas where we believe we can make the most difference.
Our focus areas
Getting to net zero
e: Aim 5 non-oil and gas activities included a partial acquisition payment for the US offshore wind partnership with Equinor, our investments in electrification and advanced mobility, and investment into activities through bp ventures and Launchpad.
We’ve set five aims to get bp to net zero by 2050 or sooner and five aims to help the world get there too.
| Aims | 2020 performance | 2025 target | 2030 Aims | 2050 or sooner Aims |
|---|---|---|---|---|
| Net zero operations | 16%a | 20% | 30-35% | 100% |
| Net zero oil and gas | 9%a,b | 20% | 35-40% | 100% |
| Halving intensity | 0.6%a,b | 5% | >15% | 50% |
| Reducing methane | 0.12%c | 0.20% (based on our new measurement approachd) |
timeline to achieve 50% to follow | |
| More $ for new energies | $750me | $3-4bn | ~$5bn | |
a: Reductions against the 2019 baseline.
b: The baseline year for our aims 1, 2 and 3 is 2019. Following publication of the bp annual report 20-F 2019, some data improvements related to the reported 2019 figures for aims 2 and 3 were identified. Although these are not considered to be material, for each of aims 2 and 3 the 2019 figure has been adjusted.
c: 2020 methane intensity is calculated using existing methodology and, whilst it reflects progress in reducing methane emissions, will not directly correlate with progress towards delivering the 2025 target under aim 4.
d: We aim to have this in place by the end of 2023.
e: Aim 5 non-oil and gas activities included a partial acquisition payment for the US offshore wind partnership with Equinor, our investments in electrification and advanced mobility, and investment into activities through bp ventures and Launchpad.
Improving people's lives
Our five people aims cover clean energy, a just energy transition and sustainable livelihoods, respect for human rights, greater equity and enhanced wellbeing.
Caring for our planet
Our sustainability frame includes a focus on making a positive difference to the environment in which we operate. The scope of our care for our planet aims covers biodiversity, water management, nature-based solutions including those that reduce or remove carbon emissions, circularity and sustainable purchasing
Our aims
We’ve set aims linked to the UN Sustainable Development Goals for each of our three focus areas: 10 for net zero, 5 for people and 5 for planet.
The UN Sustainable Development Goals (SDGs) set a global framework for countries, businesses and other stakeholders to address society’s most important challenges, working together in accordance with their different roles.
In developing the people and planet aspects of our sustainability frame, we started with the sustainable development goals to inform our thinking.
Although our business activity touches the majority of the SDGs, we’re focusing our efforts on those that align with our aims in order to make the most impactful contribution to sustainable development and to people over the next 10 years.
2020 highlights
Our combined Scope 1 and Scope 2 emissions, covered by aim 1, decreased by 16% from 54.4 MteCO2e in 2019 to 45.5 MteCO2e in 2020.
Improved safety performance, with fewer tier 1 and tier 2 process safety events and a reduction in recordable injury frequency, compared to 2019.
Continued to grow in solar through Lightsource bp.
Announced our strategic partnership with Microsoft to further digital transformation in energy systems.
Published an updated business and human rights policy.
Announced a new position on biodiversity – which includes the aim for new projects in scope to achieve a net positive impact on biodiversity.
Launched a new aim to become water positive by 2035 – by replenishing more freshwater than we consume in our operations.
Responding to Covid-19
The human, economic and social impacts of the COVID-19 pandemic continue to have a profound impact on countries and individuals. They’ve also affected bp in many different ways. Throughout 2020 we took action in response and are still doing so.
For example:
- We supplied more than 10 million litres of free fuel to emergency service vehicles across the UK.
- In India, we provided emergency food supplies and survival kits to stranded truck drivers, migrant workers and to other affected communities close to our operations.
- In Mauritania, we provided clean, tanked water to a community after they were left without access to clean water when the government closed borders to Senegal as part of COVID-19 protective measures.
$2.0m
to WHO's COVID-19 solidarity response fund
