Investor welcomes increased climate ambition from bp
8th February 2022
bp increases both 2030 and 2050 emissions reduction targets
A lead investor engaging with bp as part of Climate Action 100+ has welcomed the announcement of its plans to accelerate its net zero ambition. EOS at Federated Hermes has been engaging with bp through the initiative for a number of years.
bp now aims to reduce its operational emissions by 50% by 2030, compared with an aim of 30-35% previously. It is also aiming for net zero lifecycle emissions from the energy products it sells by 2050 or sooner, including Scope 3 emissions, expanding on a previous target of a 50% reduction.