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  2. Sustainability
  3. Climate change
  4. Our role in the energy transition
  5. Collaborating to address climate change

Collaborating to address climate change

We know people around the world want and need the same thing – reliable, affordable and clean energy. Meeting this need requires efforts by everyone – governments, companies and consumers. Working together can accelerate action. Here are just some of the initiatives we are participating in

Oil and Gas Climate Initiative (OGCI)

OGCI is a voluntary, CEO-led industry initiative to accelerate meaningful action on climate change. Launched in 2014, it is made up of 13 oil and gas companies. OGCI members have made progress on a collective 0.25% methane emissions intensity target for 2025 and are now working to develop a goal to reduce the collective average carbon intensity of member companies’ aggregated upstream oil and gas operations by 2025. In 2019, OGCI launched a new initiative to unlock large-scale investment in carbon capture, use and storage (CCUS).

Major companies join forces to advance UK net zero project
 

The UK’s first zero-carbon industrial centre took another step closer to reality with the formation of a consortium to accelerate the Net Zero Teesside project.

Carbon Pricing Leadership Coalition

We’re a partner in this coalition which brings together senior representatives from government, the private sector and civil society to advance the carbon pricing agenda by working with each other towards the long-term objective of a carbon price applied in as many national economies as possible and co-ordinated globally. The goal of a carbon price is to maintain a level playing field, create jobs, encourage innovation and deliver meaningful emissions reductions.

Climate and Clean Air Coalition – Oil and Gas Methane Partnership

Climate and Clean Air Coalition (CCAC) is committed to reducing short-lived climate pollutants. bp is a member of CCAC’s Oil and Gas Methane Partnership, which aims to reduce methane emissions in the oil and gas sector. Participating companies analyse sources of methane to evaluate cost-effective technologies for methane emissions reduction.

Methane Guiding Principles

bp is a signatory to a set of principles for reducing methane emissions across the natural gas value chain. The principles were developed by a coalition of industry, institutions, academics and NGOs – including Environmental Defense Fund, IEA, OGCI, Sustainable Gas Institute and UN Environment. 

Climate Leadership Council

bp is a founding member of the Climate Leadership Council, which promotes a carbon tax and dividends framework as the most efficient equitable and politically viable climate solution. The founding members include 11 global 150 companies from the energy, manufacturing, automotive, banking, consumer goods, food and beverage and healthcare sectors – as well as many NGOs and political leaders.

CO₂ Capture Project

This bp-operated joint partnership is developing and piloting technology and demonstrating safe and secure geological containment. This initiative was recognized in 2015 for its work in improving the understanding of the CCS life cycle.

World Bank - Zero Routine Flaring by 2030 initiative

This initiative brings together governments, oil companies and development institutions that recognize that routine flaring is unsustainable from a resource management and environmental perspective. It aims to eliminate routine flaring from oil assets by the year 2030.

Our Carbon Mitigation Initiative

 

This year marks the 20-year anniversary of bp forming a partnership with Princeton University to start the Carbon Mitigation Initiative (CMI). CMI is a research programme that brings together science, technological development, policy frameworks and business principles to provide scalable solutions to meet the world’s largest challenges. Projects include exploring how terrestrial vegetation and soil can be modified to absorb more carbon and thereby lower the concentration of atmospheric carbon dioxide. Another exciting initiative centres around better understanding how methane is emitted by wetlands and determining whether effective management techniques can reduce these natural emissions. 

 

The CMI allows us to better assess the future resilience of our business and investments, not just in terms of understanding climate change but also the potential physical impacts our sites may face from factors such as changing weather and rising sea levels.

 

One of the unique characteristics of the CMI is that it continually readjusts its programming based upon new scientific discoveries, technological advances, and changing political landscapes. Over the past two years, CMI launched three new initiatives: Methane, Soil Carbon and Infrastructure.