BP published a new report, called “Advancing the Energy Transition”. The report describes BP’s commitment to a low carbon future and the actions that it will take to keep up with increasing energy demand, while at the same time working to reduce greenhouse gas emissions.
The report sets out near-term targets for reducing GHG emissions from BP’s operations, against which its progress can be measured. These targets are measurable and are intended to be met over ten years.
Namely, BP aims to do the following, as part of its low carbon strategy:
Zero net emissions growth
BP intends to keep GHG emissions from its operations at or below 2015 levels out to 2025. To achieve it aims to generate sustainable reductions in emissions throughout its operations, reducing methane emissions from its oil and gas business, and through using carbon offset projects.
Sustainable emissions reductions
BP aims to achieve reductions of 3.5 million tonnes of annual CO2 equivalent GHG emissions by 2025. Limiting methane and reducing flaring of oil and gas are expected to deliver important reductions in emissions.
Limiting methane emissions intensity
BP also wants to tackle emissions of methane from its operations. BP aims to reduce methane emissions to 0.2% across its oil and gas operations.
Moreover, the report says that BP will keep the GHG emissions from its operations at or below 2015 levels, by investing in high-quality carbon offsetting projects.
Advancing Low Carbon
BP has also introduced the programme “Advancing Low Carbon (ALC),” to pursue lower carbon opportunities. The programme highlights activities that deliver better carbon results, including generating GHG emission savings directly or through offsets.
Read more information about BP’s low carbon strategy, in the following PDF