For more than a century, BP has helped keep the world moving. But technology, consumer behaviour and regulation are fundamentally changing the way that people and goods move around.
At the same time, society faces a dual challenge – how to deliver more of the energy needed as demand grows, while dramatically reducing greenhouse gas (GHG) emissions.
The scale of the challenge means that all opportunities need to be considered to decarbonize transport – thereby advancing cleaner transport. Today’s transportation accounts for around a quarter of carbon emissions and BP’s analysis suggests that, if recent trends continue, the number of cars on roads could nearly double in the next two decades, rising to almost two billion.
Electric vehicles will play a role in lowering GHG emissions from transport and improving air quality. At BP, we are working hard to bring this revolution to our customers. That’s why we’re investing in new forms of infrastructure and technology such as ultra-fast charging. We now provide a network of 7,000 charging points across the UK, and plan to roll out ultra-fast charging on our forecourt network.
Electrification is just one of the ways in which we can keep the world moving while reducing emissions. There are other options too, including greater efficiency in conventional engines, biofuels and advanced fuels.
These options can play an important role in tackling emissions from cars in the short to medium term while some of the stumbling blocks to EV ownership are overcome. BP’s Energy Outlook suggests that at least half of Europe’s cars and more than two thirds of the world’s could still have internal combustion engines (ICE) by 2040. What’s more, based on recent trends, oil could still power the majority of passenger transport.
At BP, we believe that means: