BP Net Zero By 2050 Blahblah Tree Planting Blahblah "Gas & Low-Carbon Fuels" Blahblah Green Blah

[hatrack]

BP’s new chief executive has set an ambition to shrink the oil giant’s carbon footprint to net zero by 2050 and will cut the carbon intensity of the energy it sells by 50% over the same period. BP will follow the lead of other major oil companies by launching a new team tasked with setting out a roadmap for BP to play a role in decarbonising the energy system.

The team will report back to BP’s new team of senior executives in September this year with a strategy that is likely to include plans to use carbon offsetting measures – such as tree-planting – investments in clean energy and transport, and reducing the amount of oil it produces in the long term.

EDIT

BP has faced rising public criticism over its contribution to the climate crisis, including a string of protests at its London offices and arts institutions that continue to accept sponsorship from the company. However, Looney said BP would cut its spending on corporate “reputational sponsorship” and redirect the funds towards promoting climate action.

EDIT

Charlie Kronick, an oil adviser at Greenpeace UK, said the oil giant’s pledges did not go far enough: “BP’s ambitions and aims all seem to apply to Looney’s successors, and leave the urgent questions unanswered. How will they reach net zero? Will it be through offsetting? When will they stop wasting billions on drilling for new oil and gas we can’t burn? What is the scale and schedule for the renewables investment they barely mention? And what are they going to do this decade, when the battle to protect our climate will be won or lost.”

EDIT

https://www.theguardian.com/business/2020/feb/12/bp-sets-net-zero-carbon-target-for-2050

[klook]

1. BP is on my lifetime boycott list.

I look forward to the day when I’m no longer buying gasoline from anybody.