bp publishes sustainability report 2022
“I am pleased to see how much progress we have made, despite a year of challenges for the world. We are embedding sustainability in the way we do business. We are in action on the aims we set ourselves for net zero, people and planet – with some tangible results.”
Giulia Chierchia, EVP strategy, sustainability and ventures
The report covers our progress against our 20 net zero, people and planet aims. It sets out our broader approach to sustainability, through the strong foundations we have built over many years and through our work to embed sustainability across bp. The report also reflects the updates we made to some of our aims earlier this year – including our pathway to net zero for our aim 2 – net zero production.
By the end of 2022:
- We achieved cumulative reductions in Scope 1 and 2 emissions from our operations of 41% vs our 2019 baseline (aim 1).
- Reduced the absolute emissions from the carbon in our upstream oil and gas production by 15% since 2019 (aim 2).
- Reduced the carbon intensity of the products we sell by 2% compared to 2019 (aim 3).
- Decreased our methane intensity from 0.14% to 0.05% vs 2019 (aim 4) Around 30% of bp’s total capital expenditure went into our transition growth engines (bioenergy, convenience, EV charging, hydrogen and renewables and power) – up from 3% in 2019 (aim 5).
And we made progress against our five aims to help the world get to net zero, including advocating for policies that support net zero. We actively supported many of the climate and energy related provisions in the US Inflation Reduction act and worked with several companies to help meet their decarbonization needs.
We have taken further steps across our aims to improve people’s lives to embed social sustainability more systematically in our business:
- In a global review of our business in 2022, we confirmed that all our employees were being paid a fair wage based on analysis of Fair Wage Network benchmark data.
- To support our work on the energy transition, we want to help develop skills for the future energy system. Together with our partner EnBW, we have invested over £1million to support training and reskilling in the offshore wind industry in Scotland.
- We launched a social mobility framework for action with plans to create more opportunities for people from disadvantaged backgrounds.
We made progress on all our planet aims and are starting to see impacts on the ground:
- To help improve our water efficiency, we initiated site-based assessments, starting with our Castellón refinery in Spain.
- We put our net positive impact framework for biodiversity into action in several new projects, including a pipeline replacement project in Trinidad and Tobago.
- We launched a new circularity framework to help us identify opportunities for circularity across the business.
“With three years of experience and delivery under our belt, we have increased confidence that the direction we set is the right one. The company is performing well and the strategy – underpinned by or sustainability frame – is working.”
Bernard Looney, chief executive officer
Sustainability report
We are embedding sustainability in the way we do business and across our strategy. Our sustainability frame sets out our aims for getting to net zero, improving people’s lives and caring for our planet
Annual report
An overview of bp’s key activities, events and results in 2022, together with commentary on our performance and ambition as we move forward
Downloads
Net zero ambition progress update
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