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BP is making preparations for a lower carbon future, and is keeping its greenhouse gas emissions either at or below the levels it saw in 2015, according to a new report, “Advancing the Energy Transition”, but its plan is failing to impress environmentalists, according to The Guardian.
The report, published on Monday, details BP’s plans for reducing its pollution levels—especially its methane levels, from its operations.
Unlike its Shell counterpart, BP is not planning to make a big play in renewable energy. Instead, BP’s report identifies its goal of “embracing the dual challenge” of meeting the growing energy demand and meeting those increased demands with fewer emissions.
“A race to renewables is not enough” BP’s report reads. Still, BP promises that its net operational emissions will not increase. On top of that, it promises to “help others to curb their emissions” as well.
The brass tacks of BP’s plan calls for zero net growth in operational emissions as far out as 2025, along with 3.5 million tonnes of sustainable greenhouse gas emissions reductions by 2025. It’s target methane intensity is 0.2% and holding it below 0.3%. One of the ways BP aims to achieve those goals is by reduced flaring—which BP even more aggressively targeting zero routine flaring by 2030.
The inattentiveness to renewables has left environmentalists cold, according to The Guardian, dismissing BP’s low-carbon targets as “greenwash” on one hand, and an insufficient response to climate change.
What’s more, BP’s critics say, the targets focus on emissions from operations only, and do not address emissions stemming from the use of its products—oil and gas—according to Tom Burke, chairman of E3G.
“Improvements in BP’s operational emissions, while welcome, are too small to move the needle to prevent runaway climate change or reduce BP’s exposure to carbon risk, senior researcher at Carbon Tracker, Luke Sussams told the Guardian on Monday.
By Julianne Geiger for Oilprice.com
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Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.