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Home Sustainability

bp Publishes 2020 Sustainability Report: Reimagining Energy for People and Our Planet

Today bp shares further detail on the sustainability frame underpinning its new strategy and introduces 10 new aims focused on improving people’s lives and caring for our planet.

India CSR by India CSR
March 26, 2021
in Sustainability
Reading Time: 3 mins read
bp Publishes 2020 Sustainability Report: Reimagining Energy for People and Our Planet
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Building for the future

Creating value for stakeholders more widely– including society, employees and shareholders – is key to the long-term resilience and value of bp’s business. In 2020, bp set out 10 aims in support of its ambition to become a net zero company by 2050 or sooner, and to help the world get to net zero.

While action on climate is essential, bp also wants to help tackle other pressing sustainability challenges such as biodiversity loss and water scarcity. So, bp is now introducing 10 more aims to link its actions to a broader set of societal issues – five for people and five for the planet.

“One thing that the pandemic has taught us is the vital role business can have in helping to solve some of the world’s most urgent problems. Profits or purpose need not be a choice – and instead can work together in service of all stakeholders.”, Bernard Looney, chief executive officer

Sustainability at the heart of bp

bp set out a new strategy in 2020, to transform from an International Oil Company to an Integrated Energy Company focused on delivering solutions for customers.
bp’s sustainability frame underpins this strategy, to translate the company’s purpose – to reimagine energy for people and our planet – into action. The frame does this by connecting the business opportunity of the energy transition with societal needs and the environment.

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Sustainability frame focus areas:

Getting to net zero
Caring for our planet
Improving people’s lives

Each focus area is linked to concrete aims.

“Our new frame and aims will guide our work, focus our activities and propel us forward.” – Giulia Chierchia, EVP, strategy & sustainability

Highlights

bp has made strong progress reimagining energy and reinventing the company in a year marked by the effects of the COVID-19 pandemic:

Reduced operational greenhouse gas emissions by 16%.

Improved safety performance, with fewer tier 1 and tier 2 process safety events and a reduction in recordable injury frequency, compared to 2019.

Moved into the offshore wind market through a new strategic partnership with Equinor.

Continued to grow in solar through Lightsource bp.

Announced strategic partnership with Microsoft to further digital transformation in energy systems.

Published an updated business and human rights policy.

Announced a new position on biodiversity – which includes the aim for new projects in scope to achieve a net positive impact on biodiversity.

Launched a new aim to become water positive by 2035 – by replenishing more freshwater than we consume in our operations.


India CSR offers strategic corporate outreach opportunities to amplify your brand’s CSR, Sustainability, and ESG success stories.

📩 Contact us at: biz@indiacsr.in

Let’s collaborate to amplify your brand’s impact in the CSR and ESG ecosystem.

Tags: Sustainability Report
India CSR

India CSR

India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

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