The energy we provide has always powered economic growth and lifted people out of poverty. Today, we face the dual challenge of meeting society’s need for affordable and reliable energy, while at the same time reducing carbon emissions. As scientists and engineers, we recognise the urgency of the climate challenge – and will be part of the solution. Every part of our business has a tremendous amount to bring to this.
We commissioned Oxford Economics – an independent consultancy group specializing in economic impact analysis – to provide insight into all of our activities across Europe and to assess their economic impact. Their findings paint an important picture of our role in the economic health of the continent. Specifically, they measure the impact through the level of jobs created and sustained, and the contribution to nations’ gross domestic product.
We know that the energy mix is shifting towards lower carbon sources, driven by technological advances and growing environmental concerns. In BP, we will help drive this transition – and our business will be transformed by it.
We are proud of what this report has found. It shows that BP’s economic contribution across Europe is substantial and widespread. Whilst in the future the way we deliver heat, light and mobility will change dramatically, our commitment to our customers and the countries in which we operate will endure.
Group regional president, Europe, BP