BP Ahead of Schedule

BP announced earlier this week that it has reduced its greenhouse gas emissions by over nine million tons, eight years ahead of target and said it will peg net future emissions at this new, lower level despite plans to grow its oil and gas production by 5.5 percent a year.

2002-03-15 [SolarAccess.com] Chief executive Lord Browne said that BP’s pledge, made four years ago, to cut emissions from its own operations by 10 percent from 1990 levels by 2010 had already been achieved – and at no net cost to the company. Speaking at Stanford University, in California, Browne said BP’s target now was to contain net emissions at current levels through the next decade. This would be done partly through a mix of internal actions, principally the more efficient use of energy across the company’s operations. It would also entail the use of carbon credits resulting from the company’s accelerated shift to natural gas and other lower-carbon products, as well as cleaner transport fuels and lubricants essential to the development of lower-emission engines. BP would continue to expand its solar business which is set to grow by 40 percent this year and already has a 17 percent share of the world market. It was also looking at other potential energy sources, including hydrogen and at carbon capture and geological storage.
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