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.
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.
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.
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%.
Increase the proportion of investment we make into our non-oil and gas businesses, to $3-4 billion per year in 2025.
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.
Partner with 10-15 cities by 2030 and corporates in 3 industrial sectors.
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).
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.
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.
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.
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.
Enhance biodiversity around our existing major operating sites, with 100% of major operating sites implementing enhancement plans by 2030.
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.
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.
Support civic dialogue, transparency, and building local capacity. We plan to publish 2025 and 2030 targets/aims for this objective in 2023.
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.
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.
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.
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.
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.
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.