British Petroleum, BP has published a new report setting out its commitment to a low carbon future and to helping meet the dual challenge of providing the increasing energy the world demands while at the same time working to reduce greenhouse gas emissions.
In a statement sent to The Daily, BP stated that: “The world is growing like never before, creating opportunity for billions of people. And all this growth requires energy. But as the world demands more energy it also demands that it be produced and delivered in new ways, with fewer emissions.
‘’At BP, we embrace this dual challenge. We have always looked to the future, adapted to change and met challenges like this head on.’’
It indicated that: ‘’In this report, we examine how the energy world is changing, set out our low carbon ambitions and show how we are helping to advance the energy transition.”
Bob Dudley, BP group chief executive disclosed that\; ‘’The report, Advancing the Energy Transition, details BP’s framework for delivering this commitment: reducing greenhouse gas emissions in its operations, improving its products to help customers reduce their emissions, and creating low carbon businesses.
‘’The report also sets out clear near-term targets for limiting greenhouse gas emissions from BP’s operations, against which its progress can be measured. These targets are concrete, measurable and are intended to be met over ten years.’’
On zero net emissions growth, BP stated: ‘’Even as it delivers plans to grow its business over coming years, BP intends to keep net greenhouse gas emissions from its operations at or below 2015 levels out to 2025. It plans to achieve this by generating sustainable reductions in emissions throughout its operations, limiting the intensity of methane emissions from its oil and gas business, and through using carbon offset projects.
On sustainable emissions reductions, it stated that: ‘’BP aims to generate sustainable reductions of 3.5 million tonnes of annual CO2 equivalent greenhouse gas emissions throughout its businesses by 2025. Improving energy efficiency throughout the businesses supported by new technology, limiting the emissions intensity of methane and reducing flaring of oil and gas are expected to deliver permanent and quantifiable reductions in emissions.’’
It also added: ‘’As a key part of this, BP is determined to tackle emissions of methane – the primary component of natural gas but also a powerful greenhouse gas – from its operations. BP is targeting limiting the methane intensity – methane emissions from its operations where gas goes to market as a percentage of that gas – to 0.2% across its oil and gas operations.
‘’Where these actions alone do not keep BP’s net greenhouse gas emissions from its operations at or below 2015 levels, BP intends to further invest in high-quality carbon offsetting projects to ensure the aim is met.’’