UK oil firm withdraws from energy organisations as it pursues net zero ambitions
BP is to sever links with three US-based trade associations, including the country’s main refining lobby, because of disagreements over their climate-related policies and activities.
The decision comes after the UK oil corporation’s new chief executive, Bernard Looney, set an ambitious target to shrink its carbon footprint to net zero by 2050. To achieve this it will have to cut more greenhouse gas emissions every year than the amount produced by the whole of the UK.
BP said it would pull out of the American Fuel and Petrochemical Manufacturers (AFPM), following in the footsteps of Shell and France’s Total, which left the lobby group last April. It will also quit the Western States Petroleum Association (WSPA) and the Western Energy Alliance (WEA).
Over the past six months, BP has conducted a review of how its climate crisis-related policies and activities compare with those of 30 trade associations.
BP cited material differences in its views on carbon pricing in relation to the positions adopted by AFPM and WSPA. It will not renew its WEA membership because of significant differences around the federal regulation of methane.
Looney said: “BP will pursue opportunities to work with organisations who share our ambitious and progressive approach to the energy transition. And when differences arise we will be transparent. But if our views cannot be reconciled, we will be prepared to part company.
“My hope is that in the coming years we can add climate to the long list of areas where, as an industry, we work together for a greater good.”
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