BP published a new report setting out its commitment to work and reduce greenhouse gas emissions for a low carbon future, the company announced on Monday.
The report - Advancing the Energy Transition, detailed BP’s framework for delivering its commitment to reduce greenhouse gas emissions in its operations, improving its products to help customers reduce their emissions, and creating low carbon businesses.
The company proclaimed that the report also sets out clear near-term targets for limiting greenhouse gas emissions in BP’s operations. These targets are concrete, measurable and intend to be met by 2025.
BP intends to keep net greenhouse gas emissions from its operations at or below 2015 levels up to 2025, despite plans to grow its business over the coming years, the report said.
The company aims to achieve this by generating sustainable reductions in emissions throughout its operations, limiting the intensity of methane emissions from its oil and gas business, and through using carbon offset projects.
BP aims to generate sustainable reductions of 3.5 million tonnes of annual carbon dioxide equivalent greenhouse gas emissions throughout its businesses by 2025, the report said.
According to the report, "improving energy efficiency throughout the businesses supported by new technology, limiting the emissions intensity of methane and reducing flaring of oil and gas are expected to deliver permanent and quantifiable reductions in emissions."
"As a key part of this, BP is determined to tackle emissions of methane – the primary component of natural gas but also a powerful greenhouse gas – from its operations. BP is targeting limiting the methane intensity – methane emissions from its operations where gas goes to market as a percentage of that gas – to 0.2 percent across its oil and gas operations," the company said.
By Muhsin Baris Tiryakioglu