British Petroleum`s Lofty De-carbonization Plans and its U-turn

Case Code: BECG191 Case Length: 10 Pages Period: 1900-2023 Pub Date: 2025 Teaching Note: Available

Price: Rs.300 Organization: - Industry: - Countries: United Kingdom Themes: Sustainability, Business Ethics,Environmental Sustainability,Socially-responsible Business Practices

Abstract Case Intro 1 Case Intro 2 Excerpts

Introduction

On February 10, 2023, Bernard Looney (Looney), CEO of BP plc (BP), announced BP's plan to slow down on its commitment, which was made in 2020, to de-carbonize its business. The CEO sighted the reason being that the de-carbonization plan was too ambitious and would not be profitable for the company in the long run, and would make its sustainable goals unsustainable. “This isn’t some form of altruism or some form of charity… This is about creating sustainable value. We can create value for our shareholders through this shift, and we would argue that we will create more value through this shift than we would if we keep doing what we’re doing,” Looney commented..

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