bp plc is a British multinational energy company headquartered in London, England. Through its scale, reach and range of activities, bp delivers heat, light and mobility products and services to customers around the world, and plans to do so increasingly in ways that will help drive the transition to a lower carbon future. It has operations in Europe, North and South America, Australasia, Asia and Africa.
Bernard Looney

Bernard Looney

Chief Executive Officer, BP

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We believe it is vital to state clearly to the world the set of our beliefs about Inclusive Capitalism. As such, we start with our Statement of Guiding Principles for Inclusive Capitalism. Knowing that words alone are not enough, each of us is making a series of commitments about how we will operate our institutions so that they help achieve Inclusive Capitalism. These commitments are forward-looking statements based on current goals, expectations and assumptions, which are not guarantees of future performance. For more information, please refer to our Terms of Use

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Summary

We aim to be net zero across our entire operations on an absolute basis by 2050 or sooner, with a target of 20% reduction by 2025 and aim for 30-35% reduction by 2030.

Activities & Initiatives

To be net zero across our entire operations on an absolute basis by 2050 or sooner. This aim relates to Scope 1 and 2 GHG (around 55Mte CO2e in 2019). This is our sustainability aim 1.

Measures & Targets

We aim to be net zero across our entire operations on an absolute basis by 2050 or sooner, with a target of 20% reduction by 2025 and aim for 30-35% reduction by 2030.

SDG Focus Area(s):

Summary

We aim to get to net zero on an absolute basis across the carbon in our upstream oil and gas production by 2050 or sooner, with a target of 20% reduction by 2025 and aim for 35-40% reduction by 2030.

Activities & Initiatives

Get to net zero on an absolute basis across the carbon in our oil and gas production by 2050 or sooner. This is our Scope 3 aim and is on a bp equity share basis excluding Rosneft (361MteCO2e in 2019). This is our sustainability aim 2.

Measures & Targets

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.

SDG Focus Area(s):

Summary

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 a 35 - 40% reduction by 2030.

Activities & Initiatives

Measures & Targets

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.

SDG Focus Area(s):

Summary

We aim to cut the carbon intensity of the products we sell by 50% by 2050 or sooner, with a target of 5% reduction by 2025 and aim for at least 15% reduction by 2030.

Activities & Initiatives

Cut the carbon intensity of the products we sell by 50% by 2050 or sooner. This is a life cycle carbon intensity approach, per unit of energy. It covers marketing sales of energy ‎products and potentially, in future, certain other products, for example, associated with land carbon ‎projects (79.3gCO2e/MJ in 2019). ‎This is our sustainability aim 3.

Measures & Targets

Cut the carbon intensity of the products we sell by 50% by 2050 or sooner, with a target of 5% reduction by 2025 and aim for at least 15% reduction by 2030.

SDG Focus Area(s):

Summary

We aim to install methane measurement at all our existing major oil and gas processing sites by 2023, publish the data, and then drive a 50% reduction in methane intensity in our operations.

Activities & Initiatives

Install methane measurement at all our existing major oil and gas processing sites, publish the data, and reduce the methane intensity of our operations. And work to influence our joint ventures to set their own methane intensity targets of 0.2%. This is our sustainability aim 4.

Measures & Targets

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.

Work to influence our joint ventures to set their own methane intensity targets of 0.2%.

SDG Focus Area(s):

Summary

We aim to increase the proportion of investment we make into our non-oil and gas businesses, to $3-4 billion per year in 2025.

Activities & Initiatives

Increase the proportion of investment we make into our non-oil and gas businesses. Over time, as investment goes up in low and zero carbon, we see it going down in oil and gas. This is our sustainability aim 5.

Measures & Targets

Increase the proportion of investment we make into our non-oil and gas businesses, to $3-4 billion per year in 2025.

SDG Focus Area(s):

Summary

bp commits to no oil and gas exploration and production in the most sensitive protected areas, and aims to achieve net positive impact on biodiversity in our new projects and to enhance biodiversity around our existing major operating sites.

Activities & Initiatives

Take action to help restore, maintain and enhance nature.

Measures & Targets

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.

SDG Focus Area(s):

Summary

bp will more actively advocate for policies that support net zero, including carbon pricing.

Activities & Initiatives

Support adoption of more policies that support net zero, including carbon pricing.

Measures & Targets

Policies put in place that support net zero, including carbon pricing.

SDG Focus Area(s):

Summary

We aim to incentivise our global workforce to deliver on our aims and mobilise them to become advocates for net zero, by linking compensation with low carbon metrics for around 37,000 employees and senior leadership.

Activities & Initiatives

Incentivise our global workforce to deliver on our aims and mobilise them to become advocates for net zero.

Measures & Targets

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.

SDG Focus Area(s):

Summary

Our new Regions, Cities and Solutions team will help countries, cities and corporations around the world decarbonize. It intends to focus on partnering with 10-15 cities by 2030 and corporates in 3 industrial sectors by 2030.

Activities & Initiatives

Partner with countries, cities and corporations around the world to help them decarbonize. This is our sustainability aim 10.

Measures & Targets

Partner with 10-15 cities by 2030 and corporates in 3 industrial sectors.

SDG Focus Area(s):

Summary

We will support the market for Natural Climate Solutions to grow, aiming to have access to carbon credits from around 100 NCS projects in our portfolio.

Activities & Initiatives

Support the market for Natural Climate Solutions to grow and help the world deliver net zero.

Measures & Targets

Aim to have access to carbon credits from around 100 NCS projects in our portfolio.

SDG Focus Area(s):

Summary

In 2020 bp updated its human rights policy to address emerging human rights issues relevant to our industry; clarify our human rights commitments; and communicate how bp’s approach to managing human rights impacts has advanced.

Activities & Initiatives

To help us as we strive to go about our business in a responsible way, respecting the human rights of our workers and everyone we come into contact with.

Measures & Targets

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.

SDG Focus Area(s):

Summary

In the UK, bp has launched a framework for action on racial injustice implementing commitments across transparency, accountability and talent through 2020 and 2021.

Activities & Initiatives

To ‎reinvent our UK team to be a model of equality, ‎transparency and justice. ‎‎

Measures & Targets

Transparency

  • As part of a global comprehensive diversity and inclusion (D&I) report, report progress internally and externally against the new UK ethnic minority ambition, supporting a data-driven approach to progress and increasing visibility and accountability (April 2021).
  • Externally report on our UK ethnicity pay gap on an annual basis from early 2022 at the latest, using 2021 data. The intent is to publish regardless of any UK government requirement to do so.
  • To enable these commitments, we will continue our focus on ensuring we have access to robust ethnicity data for our people, which is gathered via voluntary self-identification in Workday (October 2020).

Accountability

  • Establish a UK ethnic minority ambition, outlining aspirational goals for ethnic minority representation across our UK business by 2025 as follows. These goals are consistent with our global commitment to fairness and bp’s Code of Conduct (August 2020). The goals are as follows:
    • From 10.2% to 15% representation at senior leadership and above
    • From 17.5% to 25% across levels up to and including first level leaders
    • A minimum 20% uplift in Black representation across all levels.
  • Appoint a UK-specific race and ethnicity champion to ensure we take concerted action to achieve our ethnicity ambitions and to deliver on our UK action plan (by 31 October 2020).
  • Embed expectations and goals for D&I delivery into entity operating plans and annual performance review process for all employees, including a link to compensation (January 2021).
  • Launch a mandatory D&I programme across the UK team with a specific focus on anti-racism and inclusion, coupled with a comprehensive education and engagement plan (launched by January 2021).
  • Establish supplier diversity and inclusive supply chain objectives into procurement processes to establish clear accountabilities, and encourage the establishment of a UK ethnic minority ambition for our suppliers (from January 2021).

Talent

  • Provide focused development and progression interventions to support career progress for UK Black employees and other underrepresented ethnic minorities (from January 2021).
  • Increase the ethnic diversity of our talent pools and candidate slates by extending Rules of the Road to ethnicity in the UK (from March 2021).
  • Increase our focus on growing Black and other underrepresented ethnic minority talent via internships and partnerships with racially diverse UK institutions (from January 2021).
  • Increase funding of UK organizations working to strengthen the STEM education pipeline – focusing specifically on Black talent and other underrepresented minorities (from January 2021).

SDG Focus Area(s):

Summary

In the US, bp has launched a framework for action on racial injustice implementing an initial set of commitments across transparency, accountability and talent through 2020 and 2021.

Activities & Initiatives

To foster an environment where all employees can reach their full potential and improve the advancement of African Americans and other underrepresented minorities.

Measures & Targets

Transparency

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).

Accountability

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.

Talent

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).

SDG Focus Area(s):

Summary

We aim to develop 50GW of renewable generating capacity by 2030 - broadly enough to meet the power needs of 36 million people - including exploring ways to make clean energy accessible to those who need it most.

Activities & Initiatives

Develop 50GW of renewable generating capacity by 2030 - broadly enough to meet the power needs of 36 million people - including exploring ways to make clean energy accessible to those who need it most. This is our sustainability aim 11.

Measures & Targets

Develop 50GW of renewable generating capacity by 2030 – broadly enough to meet the power needs of 36 million people – including exploring ways to make clean energy accessible to those who need it most.

Develop and outline our approach to accessible energy by the end of 2022.

SDG Focus Area(s):

Summary

We aim to support sustainable livelihoods development for communities where we operate (priority bp sites and businesses), disclosing progress against targets and impact measures by 2025.

Activities & Initiatives

Support sustainable livelihoods development for communities where we operate (priority bp sites and businesses). This is objective 1 of our sustainability aim 13 to help more than 1 million people build sustainable livelihoods and resilience.

Measures & Targets

Support sustainable livelihoods development for communities where we operate (priority bp sites and businesses).

Disclose progress against targets and impact measures by 2025.

Demonstrate continuous improvement in impact measures and achievement of 2030 aim.

 

 

SDG Focus Area(s):

Summary

We aim to achieve a more diverse, inclusive workplace culture and employee experience, disclosing progress against 2025 DE&I ambition, implementing action plans to address priority disparities, and integrating DE&I into talent strategy.

Activities & Initiatives

Achieve a more diverse, inclusive workplace culture and employee experience through our DE&I activities. This is objective 1 of our aim 14 for greater equity.  

Measures & Targets

Disclose progress against our 2025 DE&I ambition to be published in 2022.

Implement action plans to address priority disparities identified and complete integration of DE&I into talent strategy to deliver inclusive workplace experiences by 2025.

In 2020, bp set out global, US and UK frameworks to guide how we will improve DE&I at bp. They guide how we govern DE&I and focus on transparency of data and policies, our employees, including our leadership – being accountable for their behaviour and support of our DE&I activities – and the development and attraction of diverse talent.

 

SDG Focus Area(s):

Summary

We aim to achieve a net positive impact on biodiversity in our new projects, with new applicable bp projects having NPI plans in place from 2022, with 90% of NPI actions delivered within 5 years of project approval.

Activities & Initiatives

Achieve a net positive impact on biodiversity in our new projects. This is part of our sustainability aim 16.

Measures & Targets

Achieve a net positive impact on biodiversity in our new projects, with new applicable bp projects having NPI plans in place from 2022, with 90% of NPI actions delivered within 5 years of project approval.

SDG Focus Area(s):

Summary

We aim to enhance biodiversity around our existing major operating sites, with 100% of major operating sites implementing enhancement plans by 2030.

Activities & Initiatives

Enhance biodiversity around our existing major operating sites through the implementation of enhancement plans. This is part of our sustainability aim 16.

Measures & Targets

Enhance biodiversity around our existing major operating sites, with 100% of major operating sites implementing enhancement plans by 2030.

SDG Focus Area(s):

Summary

We aim to support biodiversity restoration and the sustainable use of natural resources in countries where we have current or growing investments, through 5 projects by 2025 and 10 projects by 2030.

Activities & Initiatives

Support biodiversity restoration and the sustainable use of natural resources in countries where we have current or growing investments through delivering projects with measurable benefits for biodiversity and people. This is part of our sustainability aim 16.

Measures & Targets

Support biodiversity restoration and the sustainable use of natural resources in countries where we have current or growing investments, through 5 projects by 2025 and 10 projects by 2030.

SDG Focus Area(s):

Summary

We aim to enable a just transition for the workforce by driving education and employment initiatives and programmes with industry partners. We plan to publish 2025 and 2030 metrics and targets/aims for the initiatives and programmes in 2023.

Activities & Initiatives

Enable a just transition for the workforce by driving education and employment initiatives and programmes with industry partners. This is objective 1 of our sustainability aim 12 to support a just energy transition that advances human rights and education.

Measures & Targets

Develop initiatives and just transition plans for the areas most impacted by the energy transition that enable the workforce to grow into, transition, and thrive in renewable or low carbon jobs.

Advance social mobility, specifically targeting disadvantaged groups in our education & employability work.

Work with early-stage talent to build their interest in, and develop the skills needed for the future energy system.

Publish 2025 and 2030 metrics and targets/aims for the initiatives and programmes in 2023.

SDG Focus Area(s):

Summary

We aim to support civic dialogue, transparency, and building local capacity. We plan to publish 2025 and 2030 targets/aims for this objective in 2023.

Activities & Initiatives

Support civic dialogue, transparency, and building local capacity. This is objective 2 of our sustainability aim 12 to support a just energy transition that advances human rights and education.

Measures & Targets

Support civic dialogue, transparency, and building local capacity. We plan to publish 2025 and 2030 targets/aims for this objective in 2023.

SDG Focus Area(s):

Summary

We aim to evaluate 100% of high risk suppliers and 50% of medium risk suppliers in line with our labour rights and modern slavery principles and remedy priority findings raised with suppliers by 2030.

Activities & Initiatives

By 2030, evaluate 100% of high risk suppliers and 50% of medium risk suppliers in line with our labour rights and modern slavery principles and remedy priority findings raised with suppliers. This is objective 3 of our sustainability aim 12 to support a just energy transition that advances human rights and education.

Measures & Targets

By 2030, evaluate 100% of high risk suppliers and 50% of medium risk suppliers in line with our labour rights and modern slavery principles and remedy priority findings raised with suppliers.

SDG Focus Area(s):

Summary

By 2025, we aim to systematically manage human rights impacts, monitoring, and remedy, in consultation with affected peoples, and assess quality of community relationships by priority bp sites and businesses, with plans for those under the threshold.

Activities & Initiatives

Systematically manage human rights impacts, monitoring and remedy, in consultation with affected peoples, and assess quality of community relationships by priority bp sites and businesses, with plans for those under the threshold. This is objective 4 of our sustainability aim 12 to advance a just energy transition that advances human rights and education.    

Measures & Targets

Achieve systematic management of human rights impacts, monitoring and remedy, in consultation with affected peoples, supported by processes to monitor, remedy, and disclose progress by 2025.

Assess quality of community relationships by priority bp sites and businesses and develop plans for those that do not meet the threshold by 2025.

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.

SDG Focus Area(s):

Summary

We will support our workforce through fair wage and remuneration, developing and reporting 2025 and 2030 targets for fair wage and remuneration to be published in 2022.

Activities & Initiatives

Support our workforce through fair wage and remuneration, developing and reporting targets for fair wage and remuneration. This is objective 2 of our aim 13 on sustainable livelihoods.

Measures & Targets

Support our workforce through fair wage and remuneration, developing and reporting 2025 and 2030 targets for fair wage and remuneration to be published in 2022.

SDG Focus Area(s):

Summary

We aim to make customer experiences more inclusive by assessing the inclusivity of our customer experience, identifying priority disparities, and implementing action plans by 2025.

Activities & Initiatives

Make customer experiences more inclusive through assessing the inclusivity of our customer experience, identifying priority disparities, and implementing action plans by 2025. This is objective 2 of our sustainability aim 14 for greater equity.

Measures & Targets

Assess inclusivity of our customer experience, identify priority disparities and implement action plans by 2025 to achieve our 2030 aims. Report on progress metrics from 2025.

SDG Focus Area(s):

Summary

We aim to multiply diversity and inclusion impact through ecosystem partners and suppliers by achieving $1 billion annual supplier diversity spend by 2025 (US) and incentivising ecosystem partners to adopt DE&I best practices.

Activities & Initiatives

We aim to multiply diversity and inclusion impact through ecosystem partners and suppliers by increasing supplier diversity spend and incentivising ecosystem partners to adopt DE&I best practices. This is objective 3 of our sustainability aim 14 for greater equity.

Measures & Targets

Double supplier diversity spend by 2023 and achieve $1 billion annual spend by 2025 (US).

Report progress on global supplier diversity spend metrics by 2030.

Incentivize ecosystem partners to adopt DE&I best practices by 2025, and aim for priority ecosystem partners to have implemented DE&I best practices by 2030.

SDG Focus Area(s):

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