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

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
British Petroleum`s Lofty De-carbonization Plans and its U-turn
Abstract Case Intro 1 Case Intro 2 Excerpts

Excerpts

BP’s Carbon Transition Initiatives

In 2020, Looney stated that BP aimed to reduce its carbon emissions by 40% by 2030 and achieve net zero emissions by 2050. BP decided to move away from traditional fossil fuel production to achieve its green objectives and invest in low-carbon and renewable projects..

Five Aims to Achieve Net Zero Status for the Organization

These were the five aims for the company to achieve net zero in all its operations, sales, and production by 2050..

Five Aims to Assist The World in Becoming Net Zero

BP focused on initiatives to get to net zero with its five aims and it also set five more aims for the world to attain net zero status..

Impact of the Carbon Transition Initiatives

As of 2022, BP’s Aim 1 target of reduction in operational emissions saw a decrease of 41% in carbon emissions from 2019. All these reductions were under scope 1 and scope 2 and carbon emissions were cut down from 54.4 metric tons of carbon dioxide in 2019 to 31.9 metric tons in 2022.

Is it greenwash?

Although BP had taken various steps to reduce greenhouse gases and its fossil fuel business, a large section of the environment activists was not happy with the efforts made by the oil and gas industry in general, and by BP in particular, to protect the environment..

Road Ahead

Even though Looney planned to increase the production of fossil fuels, he also mentioned that the company was not backing away from its commitment to address global warming and said it planned to go in for de-carbonization..

Exhibits

Exhibit I: Brand Value of BP from 2015 to 2023
Exhibit: II: Group Income Statement of BP
Exhibit III: Leading Oil and Gas companies Worldwide Based on Market Capitalization as of June 2023
Exhibit IV: Progress Summary, 2025 targets, 2030 aims, and 2050 aims of BP

Buy this case study (Please select any one of the payment options)

Price: Rs.300
 Price: Rs.300
 PayPal (7 USD)

Custom Search