BP now aims to reduce scope three emissions by 20–30pc in 2030
BP softens emissions goals in push for ‘orderly’ transition
Oil and gas major revises down scope three targets as it plans slower reductions in oil and gas production to 2030
BP has scaled back its scope three emission reduction goals as it slows its retreat from oil and gas production to 2030, citing the need to provide secure and affordable energy in an “orderly” transition away from fossil fuels. The company aims to reduce scope three emissions by 20–30pc in 2030 against a 2019 baseline. The previous target, set in 2020, called for a 35–40pc reduction. Oil and gas production will be around 2.3mn bl/d oe in 2025 and around 2mn bl/d oe in 2030—25pc lower than 2019 production, excluding output from Russian producer Rosneft. This compares with a previously expected 40pc drop by 2030. “It is clearer than ever after the past three years that the world wants an
Also in this section
14 January 2025
Bioenergy will be a key part of the energy transition as the world decarbonises, and Brazil is set to be a major player in the sector
14 January 2025
The region has ample resources of both gas and renewable energy and developing both will be vital to the global effort to reduce emissions
13 January 2025
The region’s fast-growing economies stand at a pivotal juncture, with the opportunity to drive a sustainable growth strategy that will keep the world’s net-zero ambitions alive
10 January 2025
Global energy demand keeps rising, and digital technology will play a crucial role in both meeting that demand and doing so in a sustainable way
