Sustainability
We are embedding sustainability in the way we do business and across our strategy. Our sustainability frame sets out our aims for getting to net zero, improving people’s lives and caring for our planet
Our sustainability frame underpins our strategy to become an integrated energy company and translates our purpose into action. It sets out aims in the areas where we believe we can make the biggest difference for bp, our stakeholders and society
Our aims and objectives
We've set aims for each of our focus areas:
- 10 aims to get bp to net zero by 2050 or sooner, and to help the world get to net zero
- five aims to care for our planet
- five aims to improve people's lives.
Getting to net zero
In 2020 we set out our ambition to be a net zero company by 2050 or sooner and to help the world get to net zero.
This ambition is supported by 10 aims: five to help us become a net zero company and five to help the world get there too. Together, they set out a path that we believe is consistent with the Paris goals.
Improving people’s lives
We recognize the importance of giving people access to energy, supporting a just energy transition, treating people with respect, supporting health and wellbeing and enhancing diversity, equity and inclusion.
Our five people aims build on strong social impact and risk management requirements in our operating management system.
Caring for our planet
Our sustainability frame focuses on making a real difference to the environment in which we operate.
Our five planet aims cover the enhancement of biodiversity, water management, nature-based solutions including those that reduce or remove carbon emissions, circularity and sustainable purchasing.
Our approach: foundations and embedding sustainability
Our approach to sustainability is targeted, systematic and collaborative. It rests on strong, well-established foundations that guide the way we work. These foundations support our aims, which focus our efforts where bp can make the greatest difference for people and our planet. We are working to embed sustainability more widely and deeply in our culture, business decisions, processes and governance.
Our beliefs
In 2022, we launched ‘Who we are’ – setting out our three key beliefs and nine descriptors of how we work. 'Who we are' defines what we stand for, building on our best qualities and the things most important to us.
Safety
At bp, safety comes first and is foundational to everything we do. We want to do better on safety performance and to help us do this we are making our operating management system (OMS) simpler, clearer and even more rigorous.
Ethics and compliance
We set high standards for ethics and compliance in line with our code of conduct.
Value creation
We create value for society in many different ways: through our products and services, as an employer and taxpayer, and as a supply chain participant and investor in local communities.
Engaging with our stakeholders
Regular and constructive engagement with our stakeholders is crucial to the delivery of our ambition, sustainability frame and aims. We engage with many different stakeholders, in many different ways – from local meetings to global partnerships.
- Focus@bp enables employees to engage around their professional development in real time
- responded to the UK Government’s Net Zero Review consultation, one of the largest engagement exercises on net zero in the UK to date
- launched a dedicated project to assess the quality of our relationships with local communities with help from Shift
- investor relations team co-ordinates our one-to-one engagement with key investors and our investor events, which include roadshows and results presentations.
We identify our main stakeholders as employees, customers, investors and shareholders, government and regulators, partners and suppliers and society. And to make sure we report about the sustainability issues that matter most to our stakeholders, we carry out regular materiality assessments. We use what we learn to inform our sustainability reporting.
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