We aim to reduce operational emissions to net zero by 2050 or sooner, with a target of 20% reduction by 2025 and aim for 30-35% reduction by 2030.
We aim to get to net zero on an absolute basis across the carbon in our oil and gas production by 2050 or sooner, with a target of 20% reduction by 2025 and aim for 35-40% reduction by 2030.
Get to net zero on an absolute basis across the carbon in our oil and gas production by 2050 or sooner.
Target a 20% reduction by 2025 and aim for a 35 – 40% reduction by 2030.
Aim to halve the carbon intensity of the products we market by 2050 or sooner, with a target of 5% reduction by 2025 and aim for at least 15% reduction by 2030.
Aim to install methane measurement at our major oil and gas processing sites by 2023, publish the data, and then drive a 50% reduction in methane intensity in our operations.
Keep methane intensity below 0.20% by 2025 using our new measurement approach.
Aim to increase the proportion of investment we make into our non-oil and gas businesses, by up to eight-fold by 2025 and 10-fold by 2030 to around $5 billion per year.
We commit not to operate any new oil and gas exploration or production activities inside the boundary of officially inscribed UNESCO World Heritage sites.
We also commit not to operate any new oil and gas exploration or production activities inside the boundary of Strict Nature Reserves (International Union for Conservation of Nature (IUCN) category Ia) or Wilderness Areas (IUCN category Ib) as listed on 1 January 2020
We will aim to achieve a net positive impact on biodiversity in our new projects.
We will aim to enhance biodiversity around our existing major operating sites.
Policies put in place that support net zero, including carbon pricing.
We have raised the component of the annual cash bonus linked to our Sustainable Emissions Reductions (SERs) targets to 10% for around 37,000 employees.
For our 274 most senior leaders – at least 30% of their 2020 to 2022 equity award will now be linked to low carbon measures, up from 5% in the 2018 to 2020 plan.
bp’s leadership team will see 25% of their target performance-related pay now linked to emissions reduction and delivery of the low-carbon strategy.
Aim to partner on decarbonization with 10-15 cities and 3 industrial sectors: high-tech and consumer products, heavy transport and heavy industry.
Aim to have access to carbon credits from around 100 NCS projects in our portfolio.
We will meet our responsibility to respect human rights by implementing the UN Guiding Principles on Business and Human Rights and incorporating these principles into the internal processes, policies or guidance that support our business activities.
We respect internationally recognized human rights as set out in the International Bill of Human Rights and the core labour standards recognized by the International Labour Organization (ILO), as set out in the ILO Declaration on Fundamental Principles and Rights at Work.
We endorse the Voluntary Principles on Security and Human Rights (Voluntary Principles) and are committed to implementing them, as the global standard for the provision of responsible security in our industry.
1. Publish a comprehensive Diversity and Inclusion (D&I) Report, internally and externally, which will support a data-driven approach to progress and increase visibility and accountability (April 2021, coinciding with 2020 corporate reporting).
2. Reset our US Minority Ambition to continue to drive toward a US workforce that reflects the changing demographics of America, with quarterly reporting on progress, including sub-group detail (March 2021, following US 2020 Census report delivery).
3. Embed expectations and metrics on D&I delivery into entity operating plans and annual performance review process for all employees, including a direct link to compensation (January 2021).
4. Prohibit the Confederate flag and other symbols of hate from all bp sites (effective immediately).
5. Launch a mandatory anti-racism and inclusion program for all US employees that complements our existing unconscious bias training (January 2021).
6. Reshape the bp America D&I Council, ensuring each of the 11 entities has a representative accountable for supporting and delivering our US D&I plan and commitments (December 1, 2020).
7. Double our spend with US-based diverse suppliers by 2023, embedding supplier diversity objectives into global procurement processes to establish clear accountabilities and metrics.
8. Double representation of African Americans in group leadership by 2023.
9. Launch a focused talent development program for African American and other underrepresented minorities with a goal of identifying and advancing high-potential and high-performing participants with career stewardship from the senior leadership team (January 2021).
10. Increase the diversity of our talent pools and candidate slates to support increased hiring and progression of African Americans and other underrepresented groups through focused talent attraction efforts, strengthening internship programs and by fostering additional partnerships with historically Black colleges and universities (October 2020).
11. Increase educational and community funding to specific external organizations working to strengthen the STEM education pipeline for African Americans and other underrepresented minorities (January 2021).
Recognizing it will take alignment of all our organizations to scale impact globally, we invite you to join the movement as a Steward of Inclusive Capitalism. Together, the collective action of Council members will contribute to a fairer, more inclusive and sustainable future for all people and our planet.