BP Announces Goal to Become Carbon Neutral by 2050
The newly installed CEO of multinational oil and gas giant BP (NYSE: BP) is taking the company in a decidedly more aggressive direction than his predecessor. In a post on LinkedIn, Bernard Looney said the company was "setting out to be a net zero (carbon emissions) company by 2050 or sooner." That's a bold goal for one of the biggest integrated oil and gas companies in the world, that generates more than 415 million tonnes of emissions each year directly from its operations and from the products it produces.
Image source: Getty Images.
Looney said BP would "undertake the biggest" reorganization in more than a century. In addition to getting to zero-emissions from both its own operations and from the emissions from its upstream production by 2050 or sooner, BP also said it aimed to cut the carbon intensity of the products it sold by 2050 or sooner as well.
Source Fool.com
