BP: sets net zero emissions target for 2050
(CercleFinance.com) - In line with many of its European peers, British energy group BP pledged to become a "net zero" company, which it intends to reach by 2050.
To reach this objective, BP said it will fundamentally reorganise to become a "more focused, more integrated" company, comprising four business groups.
The four new units will include Production & Operations, Customers & Products, Gas & Low Carbon Energy, and Innovation & Engineering.
BP - whose worldwide operations currently generate around 55 million tonnes of CO2 equivalent per year - said it aims to increase the proportion of investment it makes into non-oil and gas businesses.
The oil major will host an investor day in September to set out its strategy and near-term plans under the leadership of its new CEO Bernard Looney.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
To reach this objective, BP said it will fundamentally reorganise to become a "more focused, more integrated" company, comprising four business groups.
The four new units will include Production & Operations, Customers & Products, Gas & Low Carbon Energy, and Innovation & Engineering.
BP - whose worldwide operations currently generate around 55 million tonnes of CO2 equivalent per year - said it aims to increase the proportion of investment it makes into non-oil and gas businesses.
The oil major will host an investor day in September to set out its strategy and near-term plans under the leadership of its new CEO Bernard Looney.
Copyright (c) 2020 CercleFinance.com. All rights reserved.