British oil major BP announced that it will leave three US-based organisations, following a review examining the alignment of their climate-related policies and activities with BP’s positions. This comes as BP unveiled ambition to become a net zero company by 2050, earlier this month.
Oil major BP has set a new ambition to become a net zero company by 2050 or sooner, aiming to help the world get to net zero, in line with the global environmental goals. The company announced that its ambition is based on ten aims, five to get BP to net zero and five aims to help the world get to net zero.
Oil major BP announced that it will deploy continuous measurement of methane emissions in its future BP-operated oil and gas processing projects as part of its ambitious programme to detect, measure and reduce methane emissions.
During the annual general meetings of BP and Royal Dutch Shell this week, it was obvious that Europe’s two largest oil and gas majors are following different paths on fighting climate change and on finding ways to tackle carbon emissions, as the Financial Times report.
In light of BP’s annual general meeting, Helge Lund, BP’s Chairman, wrote an op-ed to the Financial Times, explaining why the oil company is in favour of the Climate Action 100+ resolution and why it aims to a quick transition to a low carbon energy system.
BP announced that it has created a $100 million fund for projects that will deliver new greenhouse gas emissions reductions in its upstream oil and gas operations. The Upstream Carbon Fund will provide further support to BP’s work generating sustainable greenhouse gas emissions reductions in its operations. Total funds of up to $100 million will be available during the course of the next three years.
London-based oil major BP announced it will support a call from investor participants of the Climate Action 100+ initiative, for the company to broaden its corporate reporting to describe how its strategy is consistent with the goals of the Paris Agreement. Investors proposed a resolution to be put to shareholders at the company’s annual general meeting in May 2019.
The major backward step in 2017 data is most stark in carbon emissions from energy consumption, which are estimated to have increased by 1.6% in 2017, said BP’s Chief Economist Spenser Dale in the company’s Statistical Review of World Energy. This follows three consecutive years of little or no growth in carbon emissions.
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 targets for reducing GHG emissions from BP’s operations.
American energy company ExxonMobil joined a consortium of European oil companies, including BP, Eni, Repsol, Shell, Statoil, Total and Wintershall, with the aim to further reduce methane emissions from the natural gas assets they operate around the world.
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