logo
Plus   Neg
Share
Email

BP Targets Absolute Reductions In Greenhouse Gas Emissions By 2050

BP plc (BP.L,BP_UN.TO,BP) announced its new ambition to become a net zero company by 2050 or sooner which covers the greenhouse gas emissions from its operations worldwide, and the carbon in the oil and gas that it produces. BP also aims to halve the carbon intensity of the products it sells, by 2050 or sooner. The company plans to install methane measurement at all of its existing major oil and gas processing sites by 2023 and then reduce the methane intensity of its operations by 50%.

To deliver the new aims, BP's existing business segments - upstream and downstream - will be dismantled and the group reorganised globally into a more integrated entity, comprising 11 teams.

"We expect to invest more in low carbon businesses - and less in oil and gas - over time," said CEO Bernard Looney.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Commerce, California-based Joybird is recalling Blythe dressers citing tip-over and entrapment risks for children, the U.S. Consumer Product Safety Commission said in a statement. The recall involves around 100 units of Blythe dressers manufactured in Mexico. They were sold online at Joybird.com from October 2017 through July 2019 for about $1,700. Auto insurers Allstate Corp. as well as American Family Insurance announced their plans to return some of auto insurance premiums, totaling $800 million, to customers citing less driving as more people are staying home amid coronavirus or Covid-19 crisis. Allstate is providing a Shelter-in-Place Payback totaling more than $600 million. Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) expects that its first-quarter operating profit will increase about 2.73 percent from last year, sales will also increase 4.98 percent.
Follow RTT
>