Renewables Growth, Methane Step Change Core to BP’s Net-Zero Transition

(NEW YORK) Amid growing investor and social pressure for climate action, BP CEO Bernard Looney and other executives discussed how BP will reinvent for a new, low carbon energy era during BP Week 2020.

“Savvy energy companies and their investors understand that a rapid transition to net-zero is not only ecologically necessary, it offers opportunities for business growth in clean energy. BP’s plan contains much-needed ambition, urgency and milestones.

“BP just set a new bar for reducing methane emissions by making measured data the backstop for reporting against its 0.20% goal by 2025. This is a necessary and significant shift. Industry must embrace real emissions measurements over unreliable desktop calculations to prove tangible progress.”

• Mark Brownstein, Senior Vice President, Environmental Defense Fund

EDF recently released an oil and gas energy transition framework directed at operators and investors alike to help engage industry as they approach and assess progress toward net-zero.