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
18 February 2025
Demand for CCS to abate new gas-fired plants is rising as datacentres seek low-carbon power, Frederik Majkut, SVP of industrial decarbonisation, tells Carbon Economist
11 February 2025
Rising prices have added to concerns over CBAM impact on the competitiveness of EU manufacturing
7 February 2025
Norwegian energy company slashes spending on low-carbon sectors as transition decelerates
30 January 2025
The UAE’s oil and gas company puts its faith in technologies including CCS and AI to deliver its emission-reduction goals
