BP pledges net-zero carbon emissions from the oil and gas it produces by 2050

OGCI member company BP set a new ambition to become a net zero company by 2050 or sooner, and to help the world get to net zero.

Aims that help BP get to net zero:

1. Net zero across BP’s operations on an absolute basis by 2050 or sooner.
2. Net zero on carbon in BP’s oil and gas production on an absolute basis by 2050 or sooner.
3. 50% cut in the carbon intensity of products BP sells by 2050 or sooner.
4. Install methane measurement at all BP’s major oil and gas processing sites by 2023 and reduce methane intensity of operations by 50%.
5. Increase the proportion of investment into non-oil and gas businesses over time.

Aims that help the world get to net zero:

6. More active advocacy for policies that support net zero, including carbon pricing.
7. Further incentivise BP’s workforce to deliver aims; mobilise them to advocate for net zero.
8. Set new expectations for relationships with trade associations.
9. Aim to be recognised as a leader for transparency of reporting, including supporting the recommendations of the TCFD.
10. Launch a new team to help countries, cities and large companies decarbonise.