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BP and Their Push Towards #NetZero

British Petroleum (BP)

7. Affordable and Clean Energy 8. Decent Work and Economic Growth 9. Industry, Innovation and Infrastructure 13. Climate Action 17. Partnerships for the Goals

Overview

BP, British Petroleum, Oil company was established in 1901 and began drilling operations in 1908 with the discovery of oil in Persia. In the year 2000, with the world progressing towards cleaner operations, BP started to implement alternative energy that produces low carbon emissions. As a result, they created the goal of #netzero, where the company is dedicated to transforming all their operations to reflect zero carbon emissions by 2050 or sooner. BP puts its focus on the UN Goals and with their aims that make an active effort towards sustainable development. Mr. K Campbell pointed out the following during our interview: “Our goal is to deliver safe, compliant, reliable, and efficient operations while re-inventing our business. Performing while transforming.” They tend to reach the goals by constantly working toward the UN Goals of renewable energy, economic growth, innovation and infrastructure, responsible consumption and production, climate action, and partnerships for the goals.

Authors

Tapanga Haven

Tapanga Haven

Kaelyn Campbell

Kaelyn Campbell

Deondre Diggs

Deondre Diggs

JaColby Westmore

JaColby Westmore

School

Nicholls State University

Nicholls State University

Professor

Christopher Castille

Christopher Castille

Innovation

BP was one of the first oil and gas companies to implement the idea of net zero-emission. Over the years, BP has been creating strategies to enhance this concept. Their strategies involve partnerships, integration of resources, and establishing renewable energy systems. The company uses wind energy, solar power, and other resources to avoid putting carbon dioxide gas into the atmosphere. They have placed 972 wind turbines across the country that increase access to alternative energy sources. BP has created many partnerships to meet the goals of the 17 UN Sustainable Development Goals. These partnerships include Amazon, Volkswagen, as well as a Colorado steel mill. These types of partnerships aid in their new sustainability frame from implementing external collaborations.

BPs partnership with Xcel Energy has created the world’s first steel mill in Colorado to run almost solely on solar power. According to the company, Xcel Energy and BPs’ goal is to deliver at least “55% of renewable energy to the area by 2026” (Lightsource BP). This project has eliminated the “equivalent year of 92,100 gas-powered cars” (Lightsource BP). Mr. Campbell told us his view of this partnership, “I’m impressed with the level of commitment BP has made to renewable energy initiatives. In Corbin’s emissions reductions excel energy and light source BP is a great example of how to teach a partnership schedule unlock opportunities. I truly look forward to this journey personally and professionally. It’s great to have opportunities to support this type of strategy.”

The partnership with Amazon was initiated in December 2019 and is set to start up in 2022 to use alternative energy to power amazon's operations in Europe. As BP and Amazon begin their journey to grow their relationship stronger, this will allow for each company to expand their innovation and support each other to accomplish their similar goals of sustainability.

Mr. Campbell brought up a great partnership during the interview. This is what he had to say. “Another great partnership I have read about recently is with Volkswagen to work together on EV charging facilities at BP retail sites across UK Europe in Germany. I feel energized to see the aggressive approach to go to a public network of EV charging points of 70,000 worldwide by 2030. It's gonna be a great project.” BP and Volkswagen are working together to expand and further the promotion of electric vehicles. These vehicles will be powered by electric chargers that will be stationed at BP charging facilities. These chargers are expected to provide power that can charge a vehicle to travel up to 160km in just over 10 minutes.

BP and Their Push Towards #NetZero

Inspiration

Society is changing rapidly and BP is adapting to these changes through the sustainability goals that they have set. According to BP and their inspiration to the company, “the world’s carbon budget is finite and running out fast and would need a rapid transition to net-zero” (Bernard Looney, chief executive officer). BP saw it as an opportunity to serve its purpose and set an example to other companies worldwide to make an active change to meet the demand of the environment and the customers they serve. BP’s net-zero campaign is to improve people's lives in the future.

Overall impact

The United Nations has 17 Global Goals for sustainable development. BP meets several of these goals including renewable energy, innovation and infrastructure, climate action, and partnership for the goal. They meet these goals by innovating together with other corporations to help provide alternative energy sources to preserve the environment and work against climate change. There have been numerous impacts in this change that BP has initiated. In our interview, we learned that BP is no longer considered to be an oil and gas company and they have transitioned and rebranded themselves to now be considered an integrated energy company. This step for the company is to show the change in their position to meet their sustainability goals. Around the world, energy problems are becoming more complex and are transitioning to more sustainable energy.

BP is actively working to diversify its company by using other forms of energy such as renewable energy, bioenergy, and hydrogen energy. Their main focus is on providing the customers with sustainable power for powering their operations through BP. The customers will include mobility consumers, hailing services, commercial, and industrial companies. By aligning with these companies it will help BP and their partners work towards their goals to decarbonize the world.

Business benefit

BP wants to rebrand the organization and keep up with evolving customer demands and society's expectations. They are working toward providing a great environment not only for the customers but for their employees. With the new rebranding of the company, performance and growth will be brought out through different business groups. Production and performance will focus on the efficiency and growth of the company. They will strive for their customers and products to expand as the market expands. As they move to low carbon energy, the company will continue to pursue connections and opportunities in the decarbonization movement. BP wants to ensure that sustainability is embedded in their company. With the company having partnerships, BP has been building relationships with other businesses which helps them develop carbon solutions and guides them to the sustainability goals. BP is constantly evolving for the better of the environment and society by progressing with the going green movement.

Social and environmental benefit

The purpose of BP's net-zero plan is to reimagine energy for people and the planet. BP is ambitious about becoming a net-zero company by or before the 2050. In order for BP to get to net-zero sooner, they are aiming to dramatically reduce the carbon in their operations and production so they can grow new low-carbon businesses, products, and services. BP will advocate for their fundamental and rapid progress towards reaching net-zero and strive to be leaders in the industry. BP strives to be a company with the purpose of wanting to be trusted by society, valued by stakeholders, and motivating everyone who works there. The company is believed to have the experiences, expertise, relationship, and skills to achieve its goals in order to create a cleaner world. In order for the company to reach net-zero by 2050, it would need to make an effort to eliminate about 415 million tons of emissions.

Interview

Kip Campbell, Inbound Logistics Manager

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British Petroleum (BP)

British Petroleum (BP)

Schriever, US

Business Website: https://BP.com

Year Founded: 1901

Number of Employees: 10000+

BP is an oil and gas company working towards going green. They are working towards net-zero which provides a reduction of carbon emissions. They are implementing strategies that will guide them to the finish line of net-zero.