Our aims
Our purpose is reimagining energy for people and our planet
Our sustainability frame
Our new 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 ambition is supported by 20 aims.
“The world’s carbon budget is finite and running out fast; we need a rapid transition to net zero.”
Bernard Looney, chief executive officer
Our net zero ambition and aims
Our ambition is to be a net zero company by 2050 or sooner and to help the world get to net zero. We have set out 10 aims to support this ambition.
Five aims to get bp to net zero
Aim 3: halving intensity
Our aim 3 is to cut the carbon intensity of the products we sell by 50% by 2050 or sooner.
This is a life cycle carbon intensity approach, per unit of energy. It covers marketing sales of energy products and potentially, in future, certain other products, for example, associated with land carbon projects (79.3gCO2e/MJ in 2019).
Aim 4: reducing methane
Our aim 4 is to install methane measurement at all our existing major oil and gas processing sites by 2023, publish the data, and then drive a 50% reduction in methane intensity of our operations.
And we will work to influence our joint ventures to set their own methane intensity targets of 0.2%.
Five aims to help get the world to net zero
Aim 6: advocating
Our aim 6 is to more actively advocate for policies that support net zero, including carbon pricing.
We have stopped corporate reputation advertising campaigns and this is enabling us to redirect resources to promote well designed climate policies. In future, any corporate advertising will be to push for progressive climate policy; communicate our net zero ambition; invite ideas; or build collaborations. We will continue to run recruitment campaigns and advertise our products, services and partnerships – although we aim for these to increasingly be low carbon.
Aim 7: incentivizing employees
Our aim 7 is to incentivize our global workforce to deliver on our aims and mobilize them to become advocates for net zero. This will include continuing to allocate a percentage of remuneration linked to emissions reductions for leadership and around 28,0001 employees.
1. This figure was around 37,000 in February 2020. It is approximate and has been revised in line withrestructuring as part of reinvent bp and reflects lower headcount overall.
Aim 8: aligning associations
Our aim 8 is to set new expectations for our relationships with trade associations around the globe.
We will make the case for our views on climate change within the associations we belong to and we will be transparent where we differ. And where we can’t reach alignment, we will be prepared to leave.
Aim 9: transparency leader
Our aim 9 is to be recognized as an industry leader for the transparency of our reporting.
On 12 February 2020, we declared our support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). We intend to work constructively with the TCFD and others – such as the Sustainability Accounting Standards Board – to develop good practices and standards for transparency.
Our people and planet aims
Alongside our net zero ambition and aims, we have also set out five aims to help improve people’s lives and five aims to care for our planet.
Five aims to improve people’s lives
Aim 11: more clean energy
Our aim 11 is to develop enough clean energy to benefit more than 36 million people.
By 2030 we aim to have developed 50GW renewable generating capacity – broadly enough to meet the power needs of 36 million people – including exploring ways to make clean energy accessible to those who need it most.
Aim 12: just transition
Our aim 12 is to support a just energy transition which advances human rights and education.
We support the Paris Agreement, which recognizes the importance of a just transition – one that delivers decent work, quality jobs and supports the livelihoods of local communities.
To support a just energy transition, we aim to collaborate with key stakeholders and other industries to support the advancement of human rights through the transition. We’ll do this by developing just transition plans in priority areas and helping the workforce to develop skills for the future energy system, taking a socially inclusive approach. We aim to build stronger relationships with our local communities, based on mutual trust and respect, and we will support civic dialogue, greater transparency and capacity building, where we work.
Aim 13: sustainable livelihoods
Our aim 13 is helping more than 1 million people build sustainable livelihoods and resilience.
We’ll support the communities where we work to build greater resilience and more sustainable livelihoods. We’ll focus our social investment in support of our sustainability aims. Through these actions we aim to reach more than 1 million people. We will also support our workforce through quality jobs with fair conditions.
Aim 14: greater equity
Our aim 14 is greater diversity, equity and inclusion for our workforce and customers, and to increase supplier diversity spend to $1 billion.
We want our workforce and customers to experience greater equity – fair treatment according to everyone’s different needs and situations – while also helping our partners in the bp ‘ecosystem’ do the same. We’ll aim to do this by improving workforce diversity and workplace inclusion, making customer experiences more inclusive and increasing our annual expenditure with diverse suppliers, including female, and underrepresented or minority groups (supplier diversity) to $1 billion by 2025.
Five aims to care for our planet
Aim 16: enhancing biodiversity
Our aim 16 is making a positive impact through our actions to restore, maintain and enhance biodiversity where we work.
We will do this by putting our biodiversity position into action. In doing so, we expect that from 2022 all new bp projects in scope will have plans in place aiming to achieve net positive impact (NPI), with a target to deliver 90% of actions within five years of project approval. We also aim to enhance biodiversity at our major operating sites and support biodiversity restoration and sustainable use of natural resource projects in the countries where we have current or growing investments.
We will also continue to work with others, including our joint ventures, to influence and promote collective action on biodiversity.
Aim 17: water positive
Our aim 17 is becoming water positive by 2035.
We aim to replenish more freshwater than we consume in our operations. We will do this by being more efficient in operational freshwater use and effluent management, and by collaborating with others to replenish freshwater in stressed and scarce catchment areas where we operate.
Aim 18: championing nature-based solutions
Our aim 18 is championing nature-based solutions and enabling certified natural climate solutions.
We aim to use nature-based solutions (NbS) to deliver value and contribute to our people and planet aims in our operations and through our business activities. We will also support the development of scalable markets for certified natural climate solutions that help the world reduce deforestation, get to net zero and deliver environmental and social benefits.
Aim 19: unlock circularity
Our aim 19 is to unlock new sources of value through circularity.
We want to keep materials in use for longer and value them throughout their life cycle. We’ll do this by using resources responsibly and embracing circular principles in design, operations and decommissioning and aim to work with partners and our joint ventures to create opportunities.
“The direction is set. We are heading for net zero. There is no turning back.”
