Reimagining energy for people and our planet
Sustainability at bp is about creating value by connecting the business opportunities of the energy transition with our aims for people and our planet
A changing world, a changing company
“A lot has happened in the time since we set a new direction for the company in 2020. Throughout this time, our core job has been to focus on performing while transforming – keeping energy flowing and delivering for our shareholders, and at the same time investing in our transition and the energy transition.”
Bernard Looney
Chief executive officer, bp
March 2023
Bringing our strategy
to life
“We are embedding sustainability in the way we do business. We are in action on the aims we set ourselves for net zero, people and planet – with some tangible results. We know there is much more to do, but we have plans in place, a distinctive framework to support them and growing confidence in bp’s transformation into an integrated energy company – with sustainability at its core.”
Giulia Chierchia
EVP, strategy, sustainability & ventures (SS&V)
March 2023
2022 sustainability highlights
Net zero operations
41%
reduction in absolute emissions against the 2019 baseline
Enhancing biodiversity
supported biodiversity projects
in Georgia, Türkiye and Trinidad and Tobago
Reducing methane
0.05%
methane intensity (calculated using our existing methodology)
More clean energy
5.8GW
cumulative total renewable energy generating capacity developed to FID
More $ into transition
~$4.9bn
transition growth investment
Sustainable livelihoods
all employees
confirmed paid a fair wage worldwide in 2022
Unlock circularity
circularity framework
launched to support all bp businesses
Our sustainability frame
Our purpose is reimagining energy for people and our planet. Our sustainability frame translates our purpose into action and underpins our strategy to become an integrated energy company. It sets out aims in the areas where we believe we can make the biggest difference for bp, our stakeholders and society.
Five aims to get bp to net zero
Since launching our five aims in February 2020 we have focused on delivering them and investing in our transition and the energy transition.
Aim 1: net zero operations
2022 performance
41%
reduction in absolute emissions against the 2019 baseline (2021 35%)
Aim 2: net zero production
2022 performance
15%
reduction in absolute emissions against the 2019 baseline (2021 16%)
Aim 3: Net zero sales
2022 performance
2%
reduction in the average carbon intensity of sold energy products against the 2019 baseline (2021 1%)
Aim 4: reducing methane
2022 performance
0.05%
methane intensity (2021 0.07%)
Aim 5: more $ into transition
2022 performance
~$4.9 billion
transition growth investment (2021 $2.4 billion)
Five aims to help the world get to net zero
We are advocating for policies that support net zero, incentivizing our workforce, assessing our alignment with trade associations and helping corporates achieve their decarbonization goals. We are also taking steps to increase the transparency of our disclosures.
Aim 6: advocating
Advocated for policies that support net zero
Aim 7: incentivizing employees
Linked our group leaders’ incentive plan to our net zero operations aim
Aim 8: aligning associations
Reviewed 51 of our most significant trade associations for alignment with our climate policy positions
Aim 9: transparency leader
Continued taking steps to increase the transparency of our reporting on climate-related matters
Aim 10: clean cities and corporates
Helped corporates meet their complex decarbonization needs
Five aims to improve people’s lives
We took further steps to embed social sustainability more systematically and consistently – from independent assessments of our conformance with the bp human rights policy, to confirming that in 2022 we paid all our employees a fair wage.
Aim 11: more clean energy
Developed 1.4GW of renewable energy generating capacity to FID, bringing the cumulative total of developed renewables to FID to 5.8GW
Aim 12: just transition
Forged partnerships and collaborations to help communities benefit from the energy transition
Aim 13: sustainable livelihoods
Confirmed that in 2022 all our employees worldwide were paid a fair wage
Aim 14: greater equity
Launched a social mobility framework for action and business resource group
Aim 15: enhance wellbeing
Provided access to health and wellbeing programmes for all employees
Five aims to care for our planet
We have made progress on all our planet aims and are starting to see impacts on the ground – from the identification of tangible water efficiency opportunities at our refinery in Castellón, Spain, to our support for direct biodiversity restoration in Trinidad and Tobago.
Aim 16: enhancing biodiversity
Launched three new biodiversity restoration projects
Aim 17: water positive
Completed our first water efficiency assessment
Aim 18: championing nature-based solutions
Developed a carbon credit integrity centre of excellence
Aim 19: unlock circularity
Launched our new circularity framework and waste metrics
Aim 20: sustainable purchasing
Targeted high-impact procurement categories to reduce emissions and improve circularity
