💡 What is meant by net zero emissions?
Reaching a balance between emissions introduced to the atmosphere and emissions removed.
At bp, we’re aiming to be net zero across our operations on an absolute basis by 2050 or sooner and to be net zero on carbon in our oil and gas production on an absolute basis by 2050 or sooner.
💡 Why do we need net zero?
“The world’s carbon budget is finite and running out fast; we need a rapid transition to net zero. We all want energy that is reliable and affordable, but that is no longer enough. It must also be cleaner.” – Bernard Looney, CEO
Discover bp's work toward net zero and the policy priorities we champion – from carbon pricing to methane emissions, CCUS & hydrogen, renewables, and zero- and low-carbon transportation
bp supports a price on carbon because it’s fair, efficient and effective. A well-designed carbon price provides the right incentives to decarbonize the entire economy. It encourages companies like bp to innovate more and emit less
Natural gas – increasingly decarbonized over time – has a pivotal role to play in getting to net zero. And tackling methane emissions is vital if gas is to play its fullest role in the energy transition. We need to tackle methane emissions fast, and regulations can help
Carbon capture, use and storage (CCUS), and hydrogen are necessary to help achieve the goals of the Paris Agreement. That’s why we’re actively advocating for policies that can help support their growth across the US
Renewable energy is the world’s fastest growing energy source and essential to getting the world to net zero. According to the US Energy Information Agency renewables will be the “primary source for new electricity generation” out to 2050
Road transport accounts for nearly 20% of direct carbon dioxide emissions from fuel combustion globally. These have to be reduced to get the world to net zero
bp actively advocates for policies that support net zero in a variety of ways. This includes through direct lobbying, filing formal comments and testimony, communications activities, and advertising