BP to halve carbon intensity and reach net zero by 2050
Recent studies have found that Big Oil represents the most significant contributor to atmospheric greenhouse gas volumes of any industry, and in the current climate it is unsurprising that BP has joined the growing list of large firms committing to net zero emissions.
In line with its new aims, BP has revamped its corporate message to “reimagining energy for people and our planet” and promises a series of fundamental changes across the organisation to realise its fresh purpose.
The supermajor has set five aims for its journey to net zero by or before 2050, including: net zero across its operations on an “absolute basis”; net zero in its oil and gas production by 2050; halving the carbon intensity of its products by 2050; installation of methane measurement facilities at all of its major oil and gas processing sites by 2023 with a view to halving its operations’ methane intensity; and an increase in investment for non-oil and gas revenue streams.
In addition, BP has named a further five goals for helping the world to reach net zero: an increase in advocacy for pro-net zero policies; incentivisation of its workforce to deliver the company’s aims and advocate the corresponding shifts; a reassessment of relationships with trade associations; a push to become a recognised leader in transparent reporting; and the launch of a dedicated team that will assist countries, cities and big firms to decarbonise.
“The world’s carbon budget is finite and running out fast; we need a rapid transition to net zero. We all want energy that is reliable and affordable, but that is no longer enough,” said Bernard Looney, who will replace Bob Dudley as CEO on 31 March, in the firm’s press release.
“It must also be cleaner. To deliver that, trillions of dollars will need to be invested in replumbing and rewiring the world’s energy system. It will require nothing short of reimagining energy as we know it.
“This will certainly be a challenge, but also a tremendous opportunity. It is clear to me, and to our stakeholders, that for BP to play our part and serve our purpose, we have to change. And we want to change – this is the right thing for the world and for BP.”
While the information presented thus far is broad, the firm’s proposed organisational reshuffle and sweeping commitments promise further clarity and detail to come on how these goals will be met, namely in the methods BP will undertake to reach net zero.
All but two UK regions failing on school energy efficiency
Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.
Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.
According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.
Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.
“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."
He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."
North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).
The Department for Education has issued 13 tips for reducing energy and water use in schools.