x
Oil giant BP wants to become climate neutral by 2050
The British oil and gas company BP announced on Wednesday that it wants to become climate neutral by 2050. There is increasing pressure in the industry from activists and large investors that companies need a better carbon footprint. Criticism immediately came from the environmental protection organization Greenpeace: "Averting the climate catastrophe cannot wait," replied the NGO to the short message service Twitter on BP's announcement.
"We have to reinvent BP," said new CEO Bernard Looney on Wednesday. The global carbon budget is limited and is rapidly running out. A quick transition to the "net zero point" is now needed. The intensity of carbon emissions from oil and gas products is to be halved by 2050.
This would certainly be a challenge, but also an enormous opportunity. For Looney and the shareholders, it is clear that BP must change. In addition, the oil giant announced a new corporate structure to become "more efficient and more valuable". BP plans to present its strategy and short-term plans at a capital market day in September.
NGO: Leading the field and not drilling
Greenpeace expressed doubts on Wednesday about the British oil company's plans: "If you stop investing € 65 billion in new oil and gas, it would prove that you are leading the field and not drilling". The environmental protection organization also reminded BP that the group only invested three percent of its investments in renewable energies and the announcement had "changed nothing".
