Since ‘BP’ petrol first went on sale in Britain in the 1920s, the brand has grown to become recognized worldwide for quality gasoline, transport fuels, chemicals and alternative sources of energy such as wind and biofuels. We are committed to making a real difference in providing better energy that is needed today and in the changing world of tomorrow.
Carbon Capture Utilization and Storage (CCUS)
- Role and Importance: BP views CCUS as a critical technology for reducing carbon emissions and achieving net-zero goals. It is part of their broader strategy to mitigate climate change and reduce the carbon intensity of their operations.
- Investments and Developments: BP is investing in various CCUS projects and initiatives to capture and store CO2. They are focused on enhancing their capabilities in this area through both technological advancements and collaborations.
- Technological Collaboration: The company collaborates with industry leaders, research institutions, and governments to advance CCUS technologies and implement them effectively on a global scale.
Sustainability and Green Initiatives
- Emission Reduction Goals: BP aims to achieve net-zero emissions by 2050, with interim targets to reduce emissions by 30-35% by 2030. They are also working to reduce the carbon intensity of their energy products and operations.
- Greenhouse Gas Regulations and Policies: BP supports strong regulatory frameworks that drive sustainability and emissions reductions. They are aligning their policies with global climate goals and the Paris Agreement.
- Energy Transition Strategy: BP is heavily investing in renewable energy sources, including wind and solar power. They are also expanding their electric vehicle charging infrastructure and enhancing energy efficiency across their operations.
Key Takeaways
- BP is committed to achieving net-zero emissions by 2050 through strategic investments in CCUS, renewable energy, and sustainable practices.
- The company is actively working to reduce its carbon footprint and support global efforts to limit climate change.
- Collaboration with industry partners, governments, and communities is central to BP's sustainability strategy.
Website:
https://www.bp.com/
10-K Report:
N/A
Sustainability Report:
https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/sustainability/group-reports/bp-sustainability-report-2023.pdf
