1、bp Sustainability Report 2023 ContentsAbout our 2023 reporting Since we launched our sustainability frame we have worked to further embed sustainability across bp.We have also made progress in a number of areas,which are covered in this report.In addition to this report our 2023 reporting suite comp

2、rises several other elements.Introduction Introduction from our chief executive officer 1Introduction from our EVP strategy,sustainability&ventures 2Our sustainability frame 32023 at a glance 42023 sustainability progress 5Our approach 6 Safety 7Ethics and compliance 9Our people 10Policies and pract

3、ices 12Sustainability in our processes 13Identifying and managing risk 14Getting to net zero 152023 progress 16Introduction 17Consistency of our ambition and aims with the Paris goals 18Aims 1-5 update 19Aim 1:Net zero operations 20Aim 2:Net zero production 21Aim 3:Net zero sales 22Aim 4:Reducing me

4、thane 24Aim 5:More investment into transition 26Aim 6:Advocating 28Aim 7:Incentivizing employees 28Aim 8:Aligning associations 29Aim 9:Transparency leader 30Aim 10:Clean cities and corporates 31Improving peoples lives 322023 progress 33Aim 11:More clean energy 34Aim 12:Just transition 35Aim 13:Susta

5、inable livelihoods 37Aim 14:Greater equity 39Aim 15:Enhance wellbeing 41Caring for our planet 432023 progress 44Aim 16:Enhancing biodiversity 45Aim 17:Water positive 46Aim 18:Championing nature-based solutions 48Aim 19:Unlock circularity 49Aim 20:Sustainable purchasing 51How to navigate this report1

6、1116Indicates one of our sustainability aimsGo to another page of this reportGo to an online referenceDefinitions in the glossary,pages 59-61Engaging stakeholders 52Engaging with our stakeholders in 2023 53Our reporting 56 Materiality 57About our reporting 58Glossary 59Assurance statement 62Cautiona

7、ry statement 64You may also be interested in: bp Annual Report 2023 bp Net Zero Ambition Progress Update 2024 bp ESG Datasheet 2023Deloitte has assured selected key performance indicators(KPIs)in this report.Deloittes statement is on page approachGetting to net zeroImproving peoples livesCaring for

8、our planetEngaging stakeholdersOur reportingIntroductionWere four years into the strategy we set out in 2020 international oil company to integrated energy company,investing in todays energy and helping build tomorrows.Weve learned a lot in those four years.How to use new technology to reduce operat

9、ional emissions and improve process safety.How to make the most of our scale and skills as we build our transition growth engines.Safety matters mostTheres always more to do in this respect.In 2023 while we made progress on process safety,three people tragically lost their lives while working for bp

10、.We are committed to eliminating all fatalities,life-changing injuries and the most serious process safety incidents,and we continue to work to strengthen bps safety culture.Focused on deliveryIf the past few years were about learning and generating options,were now fully focused on delivery,as our

11、teams showed in 2023.First,as planned,we completed the deployment of technology,modelling and solutions to enable methane detection and measurement across our operated upstream oil and gas assets.This will give us better data to keep our methane intensity down.We believe near-zero methane should be

12、an industry-wide ambition,which is why we supported and contributed expertise to the Oil and Gas Decarbonization Charter announced at COP28.Second,we laid the groundwork for sustained decarbonization of bp operations.Cherry Point and Whiting refineries signed low carbon power purchase agreements,Tan

13、gguh LNG plant added a steam heat recovery system,while bpx energy cut operational emissions through more electrification and automation.Technology and digitization can yield further improvements in safety,efficiency and emissions a big focus for bp as we drive to 2025.Third,we remain confident that

14、 we can achieve double-digit returns from our portfolio of transition growth engines which includes our lower carbon businesses.Thats comparable to the kind of returns oil and gas deliver.We continued to invest in our transition growth engines in 2023,adding 35%more EV charge points globally to bp p

15、ulse,growing our biogas supply volumes 80%year on year and expanding our renewables and hydrogen project pipelines.Proud of our performanceThere is much more in this report.I am incredibly proud of the whole bp team for their focus and performance in 2023.We believe in what were doing,and our last e

16、mployee survey showed pride in the company is at record levels though we never take this for granted.The work goes on.As ever,we welcome your feedback and challenge.Murray Auchincloss Chief executive officer March 2024Introduction from our chief executive officer See the glossary on pages 59-61Three

17、 strategic pillars Our strategy is focused on three key areas of activity.ConvenienceEV chargingSustainabilityIntegrationTransition growth engines BioenergyHydrogenRenewables&powerOil and gas RefiningRetail fuels Castrol,aviation,B2B/midstreamConvenience and mobilityLow carbon energyResilient hydroc

18、arbonsbp Sustainability Report 20231IntroductionOur approachGetting to net zeroImproving peoples livesCaring for our planetEngaging stakeholdersOur reportinga As at 1 August 2023.b Transition growth engines are bioenergy,convenience,EV charging,hydrogen and renewables&power.The definition for transi

19、tion growth investment can be found in the glossary on pages 59-61.See the glossary on pages 59-61 Letter from our EVP strategy,sustainability&venturesIn 2023 we continued our work to embed sustainability throughout bp,focusing on where we can have the biggest impact and create the most value.And al

20、though it was a challenging year in many respects,I am pleased with the work we have done in support of the aims we set ourselves for net zero,people and planet.Progress on net zero y On net zero operations(aim 1)by the end of 2023,we maintained a 41%reduction in Scope 1 and 2 absolute emissions com

21、pared with 2019 while bringing a number of new projects online.This exceeds our 2025 target of a 20%emissions reduction although our operational emissions are expected to fluctuate as more new projects come online.While this adds to the challenge of reducing emissions,our work to do so continues.y O

22、n net zero sales(aim 3)our target for 2025 is a 5%reduction in carbon intensity and we have now reached 3%compared with 2019.y On reducing methane(aim 4)our first goal was to deploy our methane measurement approach across our operated upstream oil and gas assets by the end of 2023.We are very proud

23、to say that we have completed this.Our methane intensity in 2023 remained at 0.05%,based on our existing methodology.As we look ahead,well take stock of our aim 4 targets as we embed our new measurement approach.In terms of strategic progress,2023 was a year of continued delivery.Though today we rem

24、ain mostly in oil and gas,one example of the investment we are making as we transform bp is our purchase of TravelCenters of America.The investment means that we are now on almost every major US highway,with a network of around 290 sitesa that allows us to develop our convenience business alongside

25、biofuels,biogas,EV charging and,in time,hydrogen.In 2023 our investment into our transition growth enginesb was$3.8 billion.Focus on peopleSocial sustainability is at the heart of the energy transition.We believe that a just transition(aim 12)should be a key part of the worlds move towards net zero.

26、We are also in action to support livelihoods in local communities and improve workforce diversity,equity and inclusion.For example,at our Tangguh LNG facility,72%of the workforce is Indigenous Papuan and 60%of Papuan technicians working there are women.We continue to embed our aims in the way bp wor

27、ks.Our Operating Management System(OMS)provides a single framework for delivering safe,reliable and compliant operations and it includes environmental and social requirements.In 2023,we strengthened the requirements that cover communities and workers to promote more effective delivery of our standar

28、ds for engaging stakeholders and closer alignment with our sustainability frame.This is invaluable progress and this years report contains many more examples of how we are embedding sustainability into our work.Positive impact on our planetPeople and nature are inextricably linked,and we have advanc

29、ed on our five aims to care for the planet.As part of our biodiversity aim(aim 16),in 2023 we started using our net positive impact methodology on new bp projects in the UK and Indonesia.We also aim to replenish more fresh water than we consume in our operations to help us become water positive(aim

30、17).We continued site-based assessments to identify water efficiencies,including at our refineries in Rotterdam in the Netherlands,Lingen in Germany,and Cherry Point and Whiting in the US.Thank youWe are now more than halfway on our journey to 2025 since setting our targets and objectives in 2020.Th

31、ere is much more to be done but I am very proud of what we have achieved.I want to thank our teams,partners,customers,suppliers everyone we have worked with.Together,we are really making an impact,and we are doing so while maintaining our focus on safety,efficiency and adding greater value to bp.Giu

32、lia ChierchiaEVP strategy,sustainability&ventures March 2024bp Sustainability Report 20232IntroductionOur approachGetting to net zeroImproving peoples livesCaring for our planetEngaging stakeholdersOur reporting Our sustainability frameOur purpose is reimagining energy for people and our planet.Our

33、sustainability frame translates our purpose into action and underpins our strategy to become an integrated energy company.Our sustainability aimsNet zero operationsNet zero productionNet zero sales Reducing methane More investment into transition AdvocatingIncentivizing employees Aligning associatio

34、ns Transparency leader Clean cities and corporatesMore clean energy Just transition Sustainable livelihoods Greater equity Enhance wellbeing Get to net zeroImprove peoples livesEnhancing biodiversity Water positive Championing nature-based solutions Unlock circularity Sustainable purchasing Care for

35、 our planetOur aims and objectivesSustainability at bp is about creating value for our stakeholders by connecting the business opportunities of the energy transition with our aims.Our approachOur beliefs and foundationsOur approach to sustainability helps us do the right thing on safety,greenhouse g

36、as emissions,human rights,biodiversity,and other social and environmental factors.Embedding into our DNAWe are working to embed sustainability more deeply into our culture,decision making,governance,systems,and processes.pages 6-14 Engaging stakeholdersWe learn through ongoing engagement with our ma

37、ny different stakeholders and work with them todeliver our aims.pages 52-55 See the glossary on pages 59-61bp Sustainability Report 20233 IntroductionOur approachGetting to net zeroImproving peoples livesCaring for our planetEngaging stakeholdersOur reporting 2023 at a glancea This figure reflects n

38、ew acquisitions including TravelCenters of America.b Relative to 2019,we expect our hydrocarbon production to be around 25%lower by 2030,reflecting active management and high-grading of the portfolio,including divestment of non-core assets.c 2022 excludes Archaea Energy.See the glossary on pages 59-

39、61Resilient hydrocarbonsConvenience and mobilityLow carbon energyA snapshot of our scale,reach and performance against our strategy.Payments to partners and suppliers$151.7bn(2022$174.0bn)Dividends$4.8bn(2022$4.4bn)Total economic value generated by bp$215.2bn(2022$246.7bn)Value creationWe create val

40、ue for society in many different ways:through our products and services and as an employer,taxpayer,supply chain participant and investor in local communities.Upstream productionb2.3mmboe/d(2022 2.3mmboe/d)Biofuels production32kb/d(2022 27kb/d)Biogas supply volumes22mboe/d(2022 12mboe/dc)Our strateg

41、ic performanceEmployees87,800a(2022 67,600)Countries of operation61(2022 62)Underlying replacement cost(RC)profit$13.8bn(2022$27.7bn)About bpWe are a global business,with operations in Europe,North and South America,Australasia,Asia and Africa through which we deliver energy products and services to

42、 our customers.We are increasingly focusing on doing this in ways that help drive the transition to a lower carbon future.Strategic convenience sites2,850(2022 2,400)Electric vehicle charge points 29,000(2022 22,000)Customer touchpointsper day12m(2022 12m)Developed renewables to FID(net)6.2GW(2022 5

43、.8GW)Installed renewables capacity(net)2.7GW(2022 2.2GW)Hydrogen production net(2030 aim)0.5-0.7MtpaTaxes to governments$11.9bn(2022$12.5bn)Benefits paid to employees$10.3bn(2022$9.6bn)Social investment spend$117msupporting additional initiatives to benefit communities(2022$93m)bp Sustainability Rep

44、ort 20234IntroductionOur approachGetting to net zeroImproving peoples livesCaring for our planetEngaging stakeholdersOur reporting See the glossary on pages 59-612023 sustainability progressSince launching our net zero aims in 2020 and our people and planet aims in 2021,we have been in action to del

45、iver them.In 2023 we made progress across these three focus areas.41%reduction in absolute emissions against the 2019 baseline.(2022 41%)Net zero operationspage 20Net zero production13%reduction in absolute emissions against the 2019 baseline.(2022 15%)page 21Collaborating with First Nations people

46、in Australiabp Australia launched a new Reconciliation Action Plan(RAP),setting out actions over three years to improve outcomes for the countrys First Nations peoples.It wasdeveloped through collaboration with Aboriginal and Torres Strait Islander employees.page 35Putting net positive into actionWe

47、 have started using our net positive impact biodiversity methodology on new bp projects.These include the Northern Endurance Partnership Development in the UK and the Ubidari carbon capture project in Indonesia.page 45Promoting wellbeing for our employees All of our eligible employees and their fami

48、lies now have access to an online wellbeing platform at bp.page 41New sustainable purchasing position launched in 2023setting out focus areas to help us engage suppliers to support a more sustainable supply chain.page 51New focus areas for circularity publishedto help us improve our waste management

49、 and integrate circularity into our transition growthengines.page 49page 46Water assessments to improve efficiencyConducted assessments at four refineries,accounting for around 51%of our water consumption,to help identify areas where we can create efficiencies in water consumption.Teesside brownfiel

50、d site,Teesside,UKImproved risk assessment tool for security and human rightsWe undertook more than 230 risk assessments using this tool and,where we identified risks,we put in place measures to prevent or mitigate them.page 36reduction in the average lifecycle carbon intensity of sold energy produc

51、ts against the 2019 baseline.(2022 2%)Net zero sales3%page 22More$into transition$3.8bn transition growthinvestment.(2022$4.9bn)page 26Reducing methane0.05%methane intensity.(2022 0.05%)page 24Implementing methane measurement across our upstream oil and gas assetsWe have completed the implementation

52、 of our planned methane measurement approach across our upstream oil and gas assets,with the introduction of software for flare efficiency,predictive emissions monitoring on gas turbines and additional or updated meters among other measures.page 25Project Seagull,North Sea,UK11116Get to net zeroImpr

53、ove peoples lives Care for our planetKey:bp Sustainability Report 20235IntroductionOur approachGetting to net zeroImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionOur approachGetting to net zeroImproving peoples livesCaring for our planetEngaging stakeholders

54、Our reportingIn this sectionSafety 7Ethics and compliance 9Our people 10Policies and practices 12Sustainability in our processes 13Identifying and managing risk 14Our approach to sustainability is targeted,systematic and collaborative built on strong foundations that guide the way we work and suppor

55、t our net zero,people and planet aims.In 2023 as part of our ongoingwork to embed sustainability across bp we developed a roadmap that prioritizes our integration actions to support delivery of our sustainability frame.Our approachWhiting refinery,Indiana,US See the glossary on pages 59-61bp Sustain

56、ability Report 20236In 2023 we updated our operating management system(OMS)to make it simpler and clearer.This update provides a closer focus on human performance,our Safety Leadership Principles and the International Association of Oil&Gas Producers(IOGP)Life-Saving Rules.Our Safety Leadership Prin

57、ciplesDesigned to guide behaviour and ways of working across bp to drive a robust,consistent safety culture,our Safety Leadership Principles are:y We genuinely care about each other.y We will not compromise our focus on safety.y We encourage and recognize speak up.y We understand how work actually h

58、appens.y We learn why mistakes occur and respond supportively.Our Safety Leadership Principles are guided by human performance.They enable a culture of care by helping us understand how people interact with their working environment recognizing that we all make mistakes.We take action to prevent and

59、 reduce the consequences of these mistakes.We review how people interact with equipment and systems for example,examining potential causes of stress and fatigue and the quality of our systems and procedures.Showing care about how work is done and acting on concerns raised helps drive a learning cult

60、ure,which in turn can help us make our workplaces safer.We encourage people to speak up if they have safety concerns.Read more about speaking up on page 9.In 2023 we took steps to improve our teams capability to use the Safety Leadership Principles.For example,we offered more employees in operations

61、 training about how to better incorporate them into daily conversations at work.In 2021 we launched our quarterly Safety Leadership Principles Awards to showcase and encourage the behaviours we can all adopt to help improve safety.Nominees for the awards have included bp employees and contractors wh

62、o showed strong operating discipline and took steps to help mitigate safety risks,including speaking up.Life-Saving Rules and life-changing injuriesWe recognize the value of industry standardization and consistent rules to help improve safety performance,including IOGPs Life-Saving Rules.Around 80%o

63、f personal safety incidents in the oil and gas industry that result in a fatality,involve activities covered by the Rules.In 2023 we continued rolling out and embedding them across our operating businesses,through activities such as safety inductions,team safety talks and control of work es firstSaf

64、etyThe effectiveness of this roll-out is being verified by selected site visits.For example,in June 2023 the bp operational safety manager and North Sea discipline lead in our health,safety,environment&carbon(HSE&C)team visited the Clair Ridge platform in the North Sea to observe how IOGPs Life-Savi

65、ng Rules were being implemented and integrated into daily meetings and safety discussions.Similar site visits were carried out later in the year in Egypt,Oman,Germany,the Netherlands and the US life-changing injuriesTo know if our performance is improving,we must accurately measure and benchmark it.

66、We have worked closely with IOGP to help develop our industrys first Permanent Impairment Injury definition and have adopted it into our systems and processes.Consequently,in 2023,for the first time we recorded and reported these injuries(which we call life-changing injuries)against the IOGP industr

67、y-standard definition.This new reporting metric is intended to help sharpen our focus on eliminating the most serious injuries.At bp,safety comes first.We want to improve our safety performance and work towards the goal weset in 2021 to eliminate fatalities,life-changing injuries and tier 1 process

68、safety events.a In 2023 bp acquired the US-based TravelCenters of America business.Shortly after the acquisition was completed,two separate incidents occurred resulting in fatalities.At the time of publication,TravelCenters of America safety reporting processes were still being integrated into bps r

69、eporting processes and as such,these fatalities are not included in reported fatality data for 2023.See the glossary on pages 59-61Project Seagull,North Sea,UKPersonal safety We deeply regret the fatalities and life-changing injuries that occurred at bp in 2023.In May a contractor in our US Permian

70、operations was fatally injured when operating a forklift and in June,a contractor in the Permian region suffered a life-changing injury while performing manual activity.At our TravelCenters of America business,one employee was struck by a vehicle and fatally injured and another employee was killed i

71、n a workplace violence incidenta.We have offered our condolences and support to the families and employees affected.We are taking action to learn from these incidents to drive further improvements in safety.bp Sustainability Report 20237Our approachGetting to net zeroImproving peoples livesCaring fo

72、r our planetEngaging stakeholdersOur reportingIntroduction2023 performanceaIn 2023 our recordable injury frequency(RIF)increased by 47%.A rise in the number of injuries in North America(which we attribute in part to the onboarding of retail operations we acquired,including Thorntons)contributed to t

73、his increase.Plans are in place to help prevent injuries in the future.Recordable injury frequencya,b(workforce per 200,000 hours worked)0.300.200.250.150.050.02002220230.1660.1320.1640.1870.2740.10Driving safetyDriving is one of the biggest personal safety risks we face at bp.In 2023 sev

74、en severe vehicle accidents occurred,a decrease from 10 in 2022.The number of kilometres driven fell by 4.2%during the same period.Process safetyWe encounter our most significant process safety risks in our production&operations business,primarily in refining and production activities.In 2023 we mad

75、e further improvements to mitigate these safety risks by strengthening both our process safety barriers and the requirements in our OMS.In refining we also published a mechanical integrity framework designed to improve equipment integrity and consistency and the way we address related incidents.We c

76、urrently review the progress of our safety improvement plans for refining and production every two months.In 2022 we ran a successful pilot of IOGPs Process Safety Fundamentals,which set out 10 principles designed to help improve awareness of process safety risks for example,the need to respect haza

77、rds and sustain barriers.Many of the fundamentals reflect processes within our OMS.We built on this work in 2023 increasing their visibility to front line teams by running awareness-raising sessions at more of our sites.2023 performanceaOur combined reported tier 1 and tier 2 process safety events(P

78、SEs)have generally decreased during the past 11 years,apart from in 2019.This downward trend continued in 2023 when we reported 39 PSEs,11 fewer(22%)than in 2022.We have also made progress in preventing and reducing spills.In 2023 there were 100 oil spillsc compared to 108 in 2022 and 121 in 2021.Al

79、though portfolio changes may affect the overall baseline of our operations,our goal is still the elimination of tier 1 PSEs.Our operating sites collaborate to share examples of good practices and our central HSE incident investigations team investigates serious or complex incidents to enable systemi

80、c gaps to be identified and addressed.Tier 1Tier 2020024620239301733Process safety eventsa,d(number of incidents)Emergency preparednessThe scale and spread of our operations mean we must be prepared to respond to a range of possible disruptions,including emergencies.

81、We maintain disaster recovery,crisis,and business continuity management plans and work to build day-to-day response capabilities to support local management of incidents.We regularly test our plans and preparedness through exercises that simulate real-life scenarios.In 2023 we conducted more than 20

82、 large-scale exercises,including two in June:y In Egypt an exercise involved more than 140 participants including key stakeholders from bp,the Egyptian government and other agencies in a loss of primary containment scenario,with a focus on developing a collaborative and integrated response.y In Spai

83、n we tested complex incident management and co-ordination across bp response teams and simulated civil society and Spanish government stakeholders.The scenario included a fire at Castelln refinery and a cyber attack on bp systems.bp Sustainability Report 20238a At the time of publication,the recentl

84、y acquired US-based Archaea Energy and TravelCenters of America safety reporting processes were still being integrated into bps safety reporting processes and as such,Archaea Energy and TravelCenters of America safety performance data is not included in reported data for 2023.b The number of reporte

85、d work-related incidents that resulted in a fatality or injury.c The number of accidental or unplanned losses of hydrocarbon from primary containment from a bp or contractor operation,irrespective of any secondary containment or recovery.Oil spills 1bbl are defined as any liquid hydrocarbon release

86、of more than,or equal to,one barrel(159 litres,equivalent to 42US gallons).d Tier 1 events are losses of primary containment from a process of greatest consequence causing harm to a member of the workforce,damage to equipment from a fire or explosion,a community impact or exceeding defined quantitie

87、s(per API RP 754 tier 1 definitions).Tier 2 events are those of lesserconsequence(per API RP 754 tier 2 definitions).See the glossary on pages 59-61Our approachGetting to net zeroImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionEthics and complianceOur code o

88、f conductOur code sets the standards and expectations for how we do the right thing and empowers us to speak up without fear of retaliation.It is the foundation of Who we are and puts safety first.Together with our Safety Leadership Principles and operating management system(OMS),it helps us make sa

89、fe and ethical decisions,act responsibly,comply with applicable laws and deliver our sustainability frame.Our code applies to all bp employees,officers and board members.Our regular mandatory training and communications help employees understand how to apply it and how to raise questions or concerns

90、.All bp employees are required to confirm annually that they have read and understand our code and act in accordance with its principles.We expect and encourage all our contractors and their employees to act in ways that are consistent with our upOur code reinforces the importance of speaking up abo

91、ut anything that is unsafe,unlawful or inconsistent with its content and makes it clear that everyone who works for bp has a responsibility to do so.It emphasizes line managers responsibility to listen and act when concerns are raised and the importance of non-retaliation.It also provides an overvie

92、w of our concerns management process.We do not tolerate retaliation of any kind and consider it to be misconduct.Any concerns or enquiries can be raised through multiple speak up channels.These include line managers,senior leaders,contacts in our people&culture,ethics&compliance,safety&operational r

93、isk assurance or legal teams.We also have a confidential global helpline,OpenTalk.It is available in 75 languages and can be accessed all day,every day on the telephone or internet,by employees,the wider workforce,communities,business partners and other stakeholders.Anyone has the right to contact O

94、penTalk anonymously,except where this is prohibited by law.More than 2,250 concerns and enquiries were reported in 2023(compared to more than 1,350 in 2022)a.In 2023 we rolled out our refreshed code of conduct and our employee numbers grew through a combination of acquisitions and organic growth in

95、existing businesses,including our transition growth engines.These factors may have contributed to the increase in concerns and enquiries through better awareness about speaking up and an increase in concerns from the growing retail workforce.As in 2022 the most frequently raised concern related to b

96、ullying,harassment and discrimination,with these accounting for around half of all concerns.The second most common concern was alleged fraud.We take potential misconduct seriously and thoroughly review and respond to it,including conducting investigations where appropriate.We may take action in resp

97、onse to reported concerns for example through training and by monitoring trends in our Pulse annual survey data to help proactively mitigate issues around misconduct.We follow a disciplinary process and issue sanctions where appropriate,which may include dismissal.Read more about our Pulse surveys o

98、n page 11.Any instances in which we believe individuals have fallen short of the expectations set out in our beliefs,Who we are and our code,are taken very seriously and investigated fully.In 2023 66 employee separations resulted from non-conformance with our code or because of unethical behaviourb.

99、2002220232,5001,5001,0005000OpenTalkRaised with management76007881,0611,0089761,2992,000Total number of concernsa and enquiries raisedAnti-bribery and corruptionManaging bps key enduring risks,including our exposure to bribery and corruption,is essential.We operate in parts of

100、the world where bribery and corruption present high risks,so it is important that we engage with our employees,contractors,suppliers and others to emphasize that our commitment to ethical and compliant operations is unwavering.Our code explicitly prohibits engaging in any form of bribery or corrupti

101、on and includes an expectation that we work to make sure our business partners comply with our requirements.Our group-wide anti-bribery and corruption,anti-money laundering and anti-tax evasion policies and related procedures include measures and guidance to assess and mitigate risks,understand rele

102、vant laws and report concerns.They apply to all bp-operated businesses.Where bp is not the operator,we have processes in place to manage our interests including guidance to help bp asset managers influence operators in line with our expectations.We provide appropriate training for employees in roles

103、 assessed to be at a higher risk of bribery and corruption.In 2023 around 10,400 employees completed anti-bribery and corruption training as part of our ethics&compliance risk-based learning.This is more than the 7,500 employees trained in 2022,due to the rolling time schedule we use to assign train

104、ing.We assess our exposure to bribery and corruption risks when working with suppliers and business partners.If appropriate,we put in place a risk mitigation plan and will choose not to work with a counterparty,or to reject tenders,based on the results of our risk assessments.We also conduct anti-br

105、ibery compliance audits on selected suppliers when contracts are in place.Corrective action is taken with suppliers and business partners who fail to meet our expectations.This may include terminating contracts.Our approacha Excludes duplicate concerns.b This total excludes exits of contractors,supp

106、liers,vendors and employees at our retail and heliport sites.See the glossary on pages 59-61bp Sustainability Report 20239Our approachGetting to net zeroImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionExtractive Industries Transparency Initiative The Extract

107、ive Industries Transparency Initiative(EITI)aims to promote transparency and accountability in the way that countries manage their natural resources to benefit their citizens.Through the EITI Standard,countries are encouraged to make disclosures relating to tax,revenues,contracts and licences linked

108、 to the extractive industries.This is intended to improve understanding of the economic contribution of the extractive industries and mitigate corruption risks.We are a founding member of the EITI and sit on its board,which sets priorities for the organization and evaluates countries progress in mee

109、ting the EITI Standard.We also actively participate in national multi-stakeholder groups in Trinidad and Tobago,Mauritania and Senegal.In 2023 EITI awarded Trinidad and Tobago a high overall score(89 out of 100)for meeting the requirements of the EITI Standard.The significant efforts of the multi-st

110、akeholder group the contributed to this strong performance.We support the EITIs initiative to encourage beneficial ownership transparency globally and we use beneficial ownership information in a risk-based manner when conducting due diligence on our counterpartiesa.We also back governments efforts

111、to encourage and promote contract transparency when appropriate because we recognize its importance in improving understanding of our industry,promoting accountability and building trust.We contribute to the public disclosure of contracts and licences consistent with government procedures in EITI-im

112、plementing countries where we have a presence.Political donationsWe prohibit the use of bp funds or resources to support any political candidate or party.We recognize the rights of our employees to participate in political processes and these rights are governed by the applicable laws in the countri

113、es where we operate.Our stance on political activity is set out in our code.In the US we provide administrative support for the bp employee political action committee(PAC)a non-partisan,employee-led committee that encourages voluntary employee participation in the political process.All contributions

114、 made by the bp employee PAC are weighed against the PACs criteria for candidate support and reviewed for legal compliance before funds are sent to the recipients,and publicly reported in accordance with US election laws.Contributions made by the PAC are from employee contributions and not from bp f

115、unds.Tax transparency We take a responsible and transparent approach to tax and work to create open,constructive relationships with governments and tax authorities.Our responsible tax principles,which align with our code and beliefs,provide a framework for responsible tax behaviour.We comply with th

116、e tax legislation of the countries where we operate,and do not tolerate the facilitation of tax evasion by people who act for or on behalf of bp.In 2023 we continued to pay higher rates of tax due to windfall taxes on energy producers and suppliers.For example,in the UK the energy profits levy means

117、 in 2023 we paid 75%tax on our North Sea profits.As our taxes are largely based on profits,if they increase we pay more paid to governmentsb($million)2002220238,0006,0004,00012,00010,0002,00014,00003,3375,37812,45311,9346,913a Beneficial ownership refers to the individual who ultimately o

118、wns or has significant influence or control over the entity(UK EITI).b Comprises corporate income and production taxes.See the glossary on pages 59-61Our peopleOur people are crucial to delivering our purpose,strategy and aims.We focus on providing the support and skills they need to thrive and help

119、 bp succeed.To understand the skills we need across bp now and will need in the future,in 2023 we continued our work to build skills forecasts and implement capability plans across bp,including those for our transition growth engines.To implement these capability plans,we are developing our current

120、talent by running targeted skills development campaigns,while also recruiting externally to bring new expertise into bp.This is helping us build a workforce with the skills we need as our business evolves.Our cultureWe use data from various sources,including our Pulse annual employee survey,to provi

121、de insights about our culture.This data is regularly reviewed by bp leadership with oversight and assurance provided by the board and its committees.In 2023 we established a board-level Who we are culture oversight committee to gain insight into our progress towards embedding the Who we are culture

122、frame,with a specific emphasis on psychological safety and speaking up.It is expected that,over time,the responsibilities of the Who we are oversight committee will be absorbed by the people and governance committee.In 2023 the board also held engagement sessions with bp employees as part of its wor

123、kforce engagement programme.This is covered in more detail in the bpAnnual Report 2023.Read more in the bp Annual Report 2023 page 97bp Sustainability Report 202310Our approachGetting to net zeroImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionWho we areIn 20

124、22 we launched Who we are setting out our three key beliefs Live our purpose,Play to win and Care for others along with nine descriptors of how we work,including one that states safety comes first at bp.Who we are is integrated into our code of conduct and sets our expectations of how our people sho

125、uld behave.It guides our approach to recruitment,assessment,development,performance management and reward.In 2023 we further embedded Who we are by continuing to integrate it into our policies and practices,including our hiring approach and interview tools.We trained a community of more than 2,000 W

126、ho we are changemakers and piloted behaviour change initiatives to bring our beliefs to life.Our 2023 Pulse annual survey showed that around 80%of employees see our beliefs reflected in our employee sentimentWe measure employee sentiment through our Pulse annual survey,which is sent to all eligible

127、employees,and through our Pulse live survey,which is sent weekly to a representative sample of around 8%of employees.To supplement our annual survey feedback,we discuss specific topics in listening panels and focus groups.In 2023 we extended the Pulse annual survey to cover a subset of our retail em

128、ployees,to provide a more complete and representative view of our total workforce.This will be increasingly important as we grow our retail and convenience businesses.Employee engagementResults from the 2023 Pulse annual survey,which ran in August and September 2023,showed that pride in working for

129、bp increased from 78%reported in 2022 and reached a record 80%.Employee engagement also increased to 73%from 70%in 2022.Both figures are notable given that participation in the survey was higher than ever before.We achieved an 85%response rate from office and front line employees and 74%from the sub

130、set of retail employees.We use what we learn from our Pulse surveys to help meet our performance objectives and work towards the 2025 targets for our aims.In doing so,we focus on four areas leadership,transforming,psychological safety and inclusion.Developing our peopleIn 2023 bp employees collectiv

131、ely completed more than 1.3 million hours of formal learning(2022 1.1 million hours).This learning takes place within a development frame,applicable to all employees.It covers safety,conformance and compliance learning,technical,leadership and future skills.Our development offer and training portfol

132、io also include a rigorous mandatory curriculum,focused on compliance with applicable laws and regulations as well as conformance with our internal standards.We strengthened our development offer in 2023,evolving it to meet the demands of the energy transition:y We launched new learning pathways on

133、our global learning platform growbp,to cover our sustainability aims,the energy transition and our transition growth engines.y We introduced our Reinventing Leadership programme across bp at all levels,focusing on key leadership skills to drive our performance and ongoing reinvention.y We ran anothe

134、r growth week to enhance our learning culture and highlight current and future skills and development opportunities.Approximately 14,000 participants across around 60 countries registered to take part.y We launched a new online sustainability hub,designed to help our people connect,learn about,and a

135、ct on sustainability.In the first six months since its launch,the site has been accessed more than 4,000 times.FocusbpOur internal performance development platform focusbp is available to all permanent employees.It incorporates dynamic goal setting,regular check-ins,real-time feedback and an annual

136、reflection on performance.We use the platform to help drive development conversations,recognizing that on-the-job development is a key part of building skills.Education,employability and skills developmentThrough our education and employability initiatives,we invest to develop future talent.This hel

137、ps to increase the availability of the skilled people needed to advance the energy transition and builds on our work to promote science,technology,engineering,and mathematics(STEM)skills.Much of this work is focused on supporting social mobility in disadvantaged communities.Read more about enabling

138、a just transition on page 35 and social mobility on page 39.Global Sustainability NetworkOur Global Sustainability Network(GSN)is an initiative created and led by employees.It brings together people from across bp to help implement a clear strategy to connect,educate and act on sustainability.Since

139、its launch in 2021 GSN membership has grown to more than 6,000 people,who come together through 16 chapters across more than 50 countries.In 2023 the GSN led global and regional initiatives to educate colleagues about sustainability and share stories about sustainability in action.These reached more

140、 than 2,000 people.Examples of GSN activities in 2023 included:y The Big Think Hackathon in our Asia Pacific region,during which more than 300 participants shared around 60 ideas about how to deliver our sustainability frame.Several ideas were selected to be developed further with business leader sp

141、onsorship.y The Flow to Work programme,which connects members to sustainability projects across bp so they can build their sustainability skills while helping deliver our aims.In 2023 Flow to Work helped GSN members to get involved with the screening and selection of biodiversity restoration project

142、s and digital work designed to support operational emissions reductions.bp Sustainability Report 202311Our approachGetting to net zeroImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionPolicies and practicesOur policies and practices set expectations about how

143、we manage environmental and social performance before,during and after our activities.They include environmental and social requirements,which form the foundation of many of our sustainability aims.As we continue our work to embed sustainability across bp,we review and update our relevant policies a

144、nd practices to reflect our sustainability frame and aims.Our Operating Management System Our Operating Management System(OMS)provides a single framework for delivering safe,reliable and compliant operations.It includes environmental and social requirements related to our sustainability frame.These

145、requirements apply to businesses over which bp has operational control.Updates to our OMS in 2023 included revised requirements in our environmental and social practices that cover investment decisions,projects and operations.These updated practices set out requirements to identify,prevent and mitig

146、ate carbon,environmental and social impacts and risks;and to identify related opportunities.All our major operating sites attest or certify to ISO14001,in line with our OMS requirementa.SocialOur code of conduct and OMS contain requirements and guidance about the need to respect the rights of worker

147、s and community members.Our OMS requires all projects and operations,where we are the operator,to identify,engage with and consult affected people in a manner that respects their rights;and to seek feedback on our proposed or actual activities,potential impacts and mitigation measures,taking into ac

148、count any sensitivities around livelihoods,land,environment and culture.In 2023 we strengthened and clarified the language in our OMS requirements related to communities and workers to promote more effective delivery of our standards and closer alignment with our sustainability frame.Read more about

149、 stakeholder engagement on page 53.Human rights policyOur human rights policy aligns with the UN Guiding Principles on Business and Human Rights.It is underpinned by the International Bill of Rights and the International Labour Organizations Declaration of Fundamental Principles at Work,including it

150、s Core Conventions.Our policy also specifies the need for independent third-party assessments of selected sites and business activities on a risk-prioritized basis to assess their conformance;we continued these assessments in 2023.To support our teams,we provide human rights training and other aware

151、ness-raising activities.In 2023 these included training on identifying and managing labour rights and modern slavery risks.Labour rights and modern slavery principlesThese state our commitment to respect workers rights in line with International Labour Organization Core Conventions on Rights at Work

152、,and our expectation that contractors,suppliers and joint ventures do likewise.Our principles cover prevention of abusive or inhumane practices,such as child labour,forced labour,trafficking,slavery or servitude,discrimination or harassment.They are a reference point for all bp businesses,our contra

153、ctors and our suppliers.Indigenous peoplesWe operate in several countries where Indigenous People live.We seek to apply the principles of free,prior and informed consent where practical when consulting and engaging with Indigenous Peoples about new projects,recognizing their human rights and respect

154、ing their sensitivities concerning livelihoods,land,environment and culture.Our internal requirements for projects and operations reflect this and other commitments from our human rights policy.Read more on page 36.Read our human rights policy and LRMS principles: our modern slavery and human traffi

155、cking statement: environmental policyOur environmental policy is established through relevant elements of our code,in particular the sections on safety and sustainability and our responsibility and how we speak up.The policy is supported by relevant aspects of our commitment to health,safety,securit

156、y and environmental performance,our sustainability frame,our biodiversity position and our internal group requirements and guidance,including those that form part of our OMS and protected areasOur biodiversity position builds on robust practices already in place to manage biodiversity across bp proj

157、ects.We are committed to not operate any new oil or gas exploration or production activities inside natural or cultural UNESCO World Heritage sites,or in Strict Nature Reserves and Wilderness Areas as listed on 1 January 2020 and defined by the International Union for Conservation of Nature(IUCN).We

158、 review this commitment periodically and engage with UNESCO and the IUCN.In our online protected areas update we report on the number and overlap of our major operating sites in or near to protected areas and key biodiversity areas.As we continue planning our carbon capture and hydrogen projects in

159、Teesside,UK,we have acknowledged the risks involved in constructing and operating near international protected areas.Through our environmental practices,we require projects that are either located in or could affect an international protected area,to identify and assess the risks involved and put in

160、 place the mitigation measures necessary to avoid and reduce project impacts.For example,during site investigation works adjacent to the Teesmouth and Cleveland Coast Ramsar site we aimed to mitigate impacts to the local environment through noise reduction methods and employed an ecologist on the pr

161、oject.Read more about our aim 16,enhancing biodiversity,on page businesses actively manage our freshwater demands in areas of stress and scarcity,based on analysis carried out using the World Resources Institute Aqueduct Global Water Risk Atlas.Read more about our aim 17,water positive,on page 46.Fi

162、nd more environmental and social data: Our Mauritania and Senegal gas business became a major operating site in 2023 and is working towards ISO certification or attestation as per our OMS requirement.See the glossary on pages 59-61bp Sustainability Report 202312Our approachGetting to net zeroImprovi

163、ng peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionWasteWe adopt a lifecycle approach to waste management to avoid and reduce waste from our operations and to reuse materials.Read more about waste management on page 50.Air emissionsWe monitor our air emissions includi

164、ng sulphur oxides,nitrogen oxides and non-methane hydrocarbons and where possible,put measures in place to reduce the potential impact of our operational activities on local communities and the environment.In 2023 our total air emissions remained relatively flat compared to 2022.bpx energy contribut

165、ed to these results by reducing its non-methane hydrocarbon emissions by 5%through various interventions including electrification,compressor optimization,base well tie-ins,new well designs and flaring reduction projects.Read more about operational emissions reductions on page 20.20022394

166、37933839100500 Nitrogen oxides group Sulphur oxides group Non-methane hydrocarbons groupAir emissionsby substance(kt)Supplier expectationsWe want to work with suppliers who strive for sustainability in their supply chains and we try to develop and strengthen relation

167、ships with those who act in accordance with our code of conduct.In 2023 we updated our supplier expectations document to align with our refreshed code of conduct and to encourage our suppliers to take action across the three focus areas of our sustainability frame.Sustainable purchasing positionIn 2

168、023 we published bp Procurements sustainable purchasing position.It outlines objectives that align with our net zero,people and planet aims,along with core principles for achieving them,including prioritization,collaboration,industry action and capability building.See page non-operated joint venture

169、s We have processes for managing our interests in non-operated joint ventures(NOJV),including ways to encourage sustainable practices.These are supported by our NOJV Solutions team,which provides a one-stop shop for integrated solutions and governance.The team has provided support for colleagues wor

170、king to influence NOJVs on sustainability,including online sustainability training,carbon roadmap templates,and a guidance note on social sustainability.We believe closer collaboration and engagement with our partners can help us in our efforts to influence NOJVs on sustainability issues and support

171、 them in pursuing their own sustainability ambitions.In 2023 our engagements with selected NOJV partners were focused on net zero operations,biodiversity,water scarcity and human rights.Workplace design and operationsOur operations include many offices and office-based workers worldwide.We are worki

172、ng to embed sustainability into our evolving workplace development and portfolio management strategy,which is led by our central workplace team.Our approach supports the delivery of our sustainability frame by prioritizing action to make our buildings more energy efficient,promote safety and wellbei

173、ng at work and advance diversity,equity and inclusion(DE&I),including accessibility.In 2023 we announced a partnership with the International WELL Building Institute,through which we achieved our first WELL Platinum certification,in Pune,India.In Shanghai,China,our new office achieved WELL and LEED

174、gold certifications.These certifications recognize our work to create sustainable workplaces that support health and wellbeing.Digital product management In 2023 we established a digital sustainability product management group.Its remit is to support delivery of our sustainability frame by providing

175、 greater consistency and more efficient prioritization across all our digital activity.In 2023 the group improved automation for emissions reporting and digitized our sustainability planning process.Sustainability in our processesWe are embedding sustainability further into our governance,investment

176、 and risk management processes building on work done over many years.GovernanceThe board is responsible for setting our strategy and for monitoring bps management and operations as we work to deliver against our targets and aims.The board-level safety&sustainability committee oversees effective impl

177、ementation of the sustainability frame and the management of significant non-financial risk,including health,safety,environmental,social and human rights risks.Management oversight of sustainability is embedded through our executive-level group sustainability committee,which is chaired by our execut

178、ive vice president strategy,sustainability&ventures.The committee provides oversight,challenge and support in the implementation of our sustainability frame and oversight of the management of potentially significant non-operational sustainability risks and opportunities,including those related to cl

179、imate change.At senior vice president level,the sustainability forum comprises representatives from each bp entity.It provides feedback to the group sustainability committee and aims to align,and improve the visibility of,key sustainability issues.Our main public policy positions are subject to endo

180、rsement by the sustainability forum and regional policy forums.A cross-functional sub-committee of the sustainability forum also advises businesses on sustainability-related marketing claims.See the glossary on pages 59-61bp Sustainability Report 202313Our approachGetting to net zeroImproving people

181、s livesCaring for our planetEngaging stakeholdersOur reportingIntroductionA number of other steering committees and working groups feed into the group sustainability committee and sustainability forum,helping to manage specific sustainability issues.Read more on our governance structures and process

182、es in the bp Annual Report 2023 pages 81-104Human rights governance At board level,our safety&sustainability committee has oversight of matters relating to human rights,including labour rights and modern slavery risk management.At executive management level,in addition to the group sustainability co

183、mmittee,our group operations risk committee regularly reviews our performance and progress in managing the operational and supply chain risks associated with labour rights and modern and performance management In 2022 all bp business groups and supporting functions developed sustainability plans,set

184、ting priority actions to support delivery of our aims.In 2023 we did further work to support implementation of these plans.We introduced an annual planning and performance management cycle for our key commercial entities.We also introduced management reviews of entity sustainability performance,whic

185、h are carried out within our group governance structure.As in 2022 we included aims 1-5 in our planning and group business performance management processes.Investment governance and consistency with the Paris goals The board assesses capital allocation across the bp portfolio,including the level and

186、 mix of capital expenditures and divestments,strategic acquisitions,distribution choices and deleveraging;as well as reviewing certain investment cases for approval.For acquisitions and organic capital investments above defined financial thresholds,investment approval is conducted through the execut

187、ive-level resource commitment meeting(RCM),which is chaired by the chief executive officer.All investment cases must set out investment merits and are considered against a set of balanced investment criteria.The set includes a cases potential impact on our net zero aims 1-3,along with any significan

188、t impacts on,or contributions to,certain of our people and planet aims.In 2023 we added fair wage considerations to our template for acquisition cases reviewed by the RCM.The CA100+resolution requires bp to disclose how we evaluate the consistency of new material capex investments greater than$250 m

189、illion with(i)the Paris goals and(ii)a range of other outcomes relevant to bps strategy.bps evaluation of the consistency of such investments with the Paris goals was undertaken by the RCM for new material capex investments sanctioned of which there were nine in 2023.The outcome of this evaluation i

190、s included in the bpAnnual Report 2023.Read more in the bp Annual Report 2023 page 31Identifying and managing risk bp manages,monitors and reports on principal risks and uncertainties identified as having the potential to impact our ability to deliver our strategy.The board,the leadership team,manag

191、ement and all relevant committees provide regular oversight of how principal risks to bp are identified,assessed and managed.In 2023 risks discussed by these different groups included climate change and the transition to a low carbon economy,strategic and commercial risks such as financial liquidity

192、,prices and markets,safety and operational risk including process safety,personal safety and environmental risks,and compliance and control risks such as ethical misconduct and changes in law and regulation.Our holistic system of internal control includes policies,processes,management systems,organi

193、zational structures,cultural norms and standards of conduct,all of which are employed to manage our business and associated risks.The group operational risk committee provides oversight of safety and operational risk management for bp,including risks relating to sustainability.Our operating business

194、es identify and manage risk using our OMS.We also monitor how risk is managed in NOJVs.Read more in the bp Annual Report 2023 pages 73-79Managing climate-related risk Climate change and the transition to a low carbon economy has been identified as a principal risk,covering various aspects of how ris

195、ks associated with the energy transition could manifest.Climate-related physical risks such as extreme weather are covered in our principal risks related to safety and operations.Climate-related transition risks and opportunities At a group level,we have identified three material climate-related tra

196、nsition risks and opportunities:y The value of our hydrocarbon business could be impacted by climate change and the energy transition.y Our ability to grow or deliver expected returns from our transition growth engines could be impacted by the energy transition.y Our ability to implement our strateg

197、y could be impacted by evolving attitudes towards the energy sector,climate change and the energy transition.Climate-related physical risks The physical risks identified across bp primarily relate to severe weather and often constitute potential for increased drivers for safety and operational risks

198、 to our operations.We have identified changes in the availability of fresh water,including those related to climate change,as a risk to some of our operations.We recognize that we could also face other forms of physical climate-related risk over the longer term,for example,those associated with chan

199、ges in sea level rise,extreme temperatures and flooding all of which could impact our operations and our people.Read more: more in the bp Annual Report 2023 pages 58-63 See the glossary on pages 59-61bp Sustainability Report 202314Our approachGetting to net zeroImproving peoples livesCaring for our

200、planetEngaging stakeholdersOur reportingIntroductionIn this section2023 progress 16Introduction 17Consistency of our ambition and aims with the Paris goals 18Aims 1-5 update 19Aim 1:Net zero operations 20Aim 2:Net zero production 21Aim 3:Net zero sales 22Aim 4:Reducing methane 24Aim 5:More investmen

201、t into transition 26Aim 6:Advocating 28Aim 7:Incentivizing employees 28Aim 8:Aligning associations 29Aim 9:Transparency leader 30Aim 10:Clean cities and corporates 31Our destination is unchanged to be a net zero company by 2050 or sooner,and to help the world get to net zero.Getting to net zeroArcha

202、ea Energy facility,Kansas,US See the glossary on pages 59-61bp Sustainability Report 202315bp Sustainability Report 202315Our reportingEngaging stakeholdersImproving peoples livesOur approachCaring for our planetGetting to net zeroIntroductionGetting to net zeroWe launched our five aims to get bp to

203、 net zero in February 2020,alongside five aims to help the world get to net zero.2023 progresspage 21Reducing operational emissions in OmanOur operations and wells teams in Oman contributed 77ktCO2e to our aim 1 emissions reduction targets through a number of sustainable emissions reductions.These i

204、ncluded flaring optimization and implementing operational efficiencies.41%reduction in absolute emissions against the 2019 baseline.(2022 41%)Net zero operationspage 20Net zero production13%reduction in absolute emissions against the 2019 baseline.(2022 15%)page 21 See the glossary on pages 59-61Imp

205、lementing methane measurement across our upstream oil and gas assetsWe have completed the implementation of our planned methane measurement approach across our upstream oil and gas assets,with the introduction of software for flare efficiency,predictive emissions monitoring on gas turbines and addit

206、ional or updated meters among other measures.Reducing methane0.05%methane intensity.(2022 0.05%)page 24The combination of near-term and longer-timeline opportunities is the basis of our biofuels strategy,giving us huge momentum onthe pathway to netzero.SVP Biofuels GrowthRead more about our biofuels

207、 business: transition$3.8bn transition growth investment.(2022$4.9bn)page 26page 25Block 61,Khazzan,OmanProducing more renewable natural gas Archaea Energy,a leading US producer of renewable natural gas(RNG),which bp acquired through a deal announced in 2022,has started production at its new modular

208、 design RNG plant in Medora,Indiana an industry first that could help streamline and accelerate build times for RNG plants.page 23Archaea Energy,Kansas,USProject Seagull,North Sea,UKreduction in the average lifecycle carbon intensity of sold energy products against the 2019 baseline.(2022 2%)Net zer

209、o sales3%page 22bp Sustainability Report 202316Getting to net zeroOur approachImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionWe have worked consistently to deliver our 10 net zero aims since their launch in 2020.The pace of the energy transition varies as a

210、 consequence of the actions taken by governments and other stakeholders to address issues such as energy security,affordability and low carbon.The impacts of the COVID-19 pandemic,the war in Ukraine,and the subsequent disruptions to energy supplies are still being experienced.These impacts,along wit

211、h the US Inflation Reduction Act,are all discussed in the bp Energy Outlook 2023.The scenarios set out in this document explore some of the possible pathways that the energy transition could take up to 2050 and help to inform our key beliefs about it.These beliefs include the following:y The carbon

212、budget is running out.Despite the marked increase in government ambitions,carbon dioxide emissions have increased every year since the Paris COP in 2015(except for 2020).y The disruption to global energy supplies and associated energy shortages caused by the Russia-Ukraine war increased the importan

213、ce attached to addressing the issues of energy security and affordability.y The structure of energy demand will continue to change,with fossil fuels declining and being replaced by a growing share of renewable energy and by increasing electrification.y The transition to a low carbon world requires a

214、 range of other energy sources and technologies,including low carbon hydrogen,modern bioenergy and carbon capture,use and net zero targets and aimsWe believe our ambition and aims,taken together,are consistent with the goals of the Paris Agreement.By setting a path that enables us to make a positive

215、 contribution,working to build and participate in many of the new net zero value chains the world will need,and by decarbonizing our own operations,our ambition and aims support the worlds progress towards the goals of the Paris Agreement.The bp Sustainability Report 2021 described our approach to d

216、ivestment activities,which remains unchanged,and how divestments(still an important part of our strategy)contribute to our aims 1,2 and 3.It also described our position on carbon credits and offsetting.Read the bp Sustainability Report 2021: ambition is to be a net zero company by 2050 or sooner,and

217、 to help the world get to net zeroa.We are aiming to be net zero across our operations,production and sales.Introductiona What we mean by net zero for the world is different from what it means for bp.See the glossary on pages 59-61Azeri Central East project,Azerbaijanbp Sustainability Report 202317G

218、etting to net zeroOur approachImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionIn a world heading for net zero,we believe bp is best positioned for success if we also head for net zero working to build and participate in net zero value chains,using our capabi

219、lities to integrate along and across them,and decarbonizing our own operations.We believe that our net zero ambition and aims,taken together,set out a path for bp that is consistent with the goals of the Paris Agreement.When we refer to consistency with Paris we consider this to mean consistency wit

220、h the worldmeeting the temperature goal set out in Articles 2.1(a)and 4.1 of the Paris Agreement on Climate Change.The Paris goals,which we support,were reaffirmed under the UAE Consensus at COP28 in December 2023,by the Sharm el-Sheikh Implementation Plan agreed by the Parties at COP27 in November

221、2022,and the Glasgow Climate Pact agreed by the Parties at COP26 in November 2021.We believe our ambition and our 10 net zero aims need to be considered as a package for consistency with the Paris goals.This is because they combine to set bps direction for net zero,supporting societys drive towards

222、the Paris goals and enabling bp to succeed in a Paris-consistent world.Read more about consistency with Paris in the bp Annual Report 2023 pages 14-15Our view of Paris consistency continues to be based on three key principles:1Informed by Paris-consistent energy transition scenariosWe are confident

223、that our approach is science-based.We see the Intergovernmental Panel on Climate Change(IPCC)as the most authoritative source of information on the science of climate change and we use it and other sources to inform our strategy.The IPCC highlights that there are a range of global pathways by which

224、the world can meet the Paris goals,with differing implications for regions,industry sectors and sources of energy.The bp Energy Outlook 2023 updated the 2022 Outlook to reflect the significant developments in global energy markets during the preceding year,including the possible impact of the Russia

225、-Ukraine war on the pace of the energy transition.It includes three main scenarios two of which we regard as Paris-consistent(Accelerated and Net Zero scenarios)which we use along with other sources to inform our strategy.Read more in the bp Net Zero Ambition Progress Update 2024 page 3 Consistency

226、of our ambition and aims with the Paris goals2Positioned for strategic resilienceWe believe our strategy positions bp for success and resilience in a Paris-consistent world a world that is progressing on one of the many global trajectories considered to be Paris-consistent,and ultimately meets the P

227、aris goals.Our strategy diversifies bps portfolio and business interests,reducing the risk that challenges facing a single business area might adversely affect bps strategic resilience.In addition(within the inevitable constraints associated with factors such as long-term capital investments,contrac

228、tual commitments and organizational capabilities at any given time)bps ability to maintain its strategic resilience rests,in part,on the governance used to keep the strategy under review in light of new information and changes in circumstances.3Contributes to net zeroWe believe our strategy enables

229、us to make a positive contribution to the world achieving net zero GHG emissions and meeting the Paris goals outcomes we believe to be in our best interests as well as beneficial to society generally.We see huge opportunity in the energy transition the transformation of the energy system that we bel

230、ieve to be a necessary feature of the worlds efforts to meet the Paris goals.In addition to investing in and scaling our own lower carbon businesses there are many ways a company at the heart of the energy sector can make a meaningful contribution to the world getting to net zero.These include:polic

231、y advocacy and seeking to use our influence with trade associations that conduct climate-related advocacy;low carbon collaboration and support for others in their own decarbonization efforts(such as cities and corporates);and making venturing investments in promising new businesses and technologies

232、that have the potential to contribute to the energy transition.We seek to advance these areas through our aims 1-5 in support of our ambition to be a net zero company by 2050,or sooner,and aims 6-10 which are focused on activities that can help the world get to net zero.Read more in the bp Net Zero

233、Ambition Progress Update 2024 pages 7 and 20 See the glossary on pages 59-61bp Sustainability Report 202318Getting to net zeroOur approachImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionAims 1-5 updateFive aims to get bp to net zero progress summaryAimsMeasu

234、re/coverage20192020 performance2021 performance2022 performance2023 performance2025 targets2030 aimsAims for 2050 or soonerAim 1Net zero operationsScope1+2Baseline54.5a MtCO2e16%b35%b41%b41%b20%b50%bNet zeroAim 2Net zero productionScope3Baseline361MtCO29%b16%b15%b13%b10-15%b20-30%bNet zeroAim 3Net z

235、ero salesAverage lifecycle carbon intensity cBaseline79d gCO2e/MJ2%d,e1%d,e2%d,e3%d,e5%e 15-20%eNet zeroAim 4Reducing methaneMethane intensity0.14%f0.12%f0.07%f0.05%f0.05%f0.20%g50%hreduction Aim 5More$into transitionTransition growth investment$634m$995m$2.4bn$4.9bn$3.8bn$6-8bn$7-9bna Changed from

236、54.4MtCO2e for consistency in rounding.b Reduction in absolute emissions against the 2019 baseline.c Average carbon intensity of our sold energy products.d Previously reported aim 3 figures for the period 2019-2022 have been restated to correct misstatements in sales data identified through business

237、 reviews and digital improvement projects.The restatement does not alter the previously disclosed average lifecycle carbon intensity of our sold energy products.Read more on page 22.e Reduction in the average carbon intensity of sold energy products against the 2019 baseline.The percentage change is

238、 calculated from the source data instead of the rounded carbon intensity number.f The methane intensity for these years is calculated using our existing methodology and,while it reflects progress in reducing methane emissions,will not directly correlate with progress towards delivering the 2025 targ

239、et under aim 4.g The 0.20%methane intensity target is based on our new measurement approach.Methane intensity is currently calculated using our existing methodology.h The 50%reduction we are aiming for is against a new baseline which we plan to set based on the new measurement approach.See the gloss

240、ary on pages 59-61bp Sustainability Report 202319Getting to net zeroOur approachImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionOur actionsOperational efficiencyWe are implementing energy efficiency measures,electrifying our centralized facilities,reducing f

241、laring and venting,and managing methane across our operations.Emissions reduction activities may include process optimization,steam heat recovery and powering refineries and onshore upstream assets using power with lower carbon attributes,as we are already doing at several of our European and US ref

242、ineries.These activities support delivery of aim 1 and we are continuing to identify and progress projects that may contribute to emissions reductions.Carbon capture and storage(CCS)and hydrogenWhere conditions are suitable,extraction of carbon dioxide from produced gas streams and reinjection under

243、ground can serve to reduce overall operational emissions.We believe this could be the case at our Tangguh LNG facility in Indonesia,where we are continuing work on the Tangguh Enhanced Gas Recovery and CCS scheme,designed to inject carbon dioxide back into the reservoir.We also plan to increase the

244、use of blue and green hydrogen at our refineries,reducing the emissions associated with the use of natural gas and grey hydrogen.Portfolio optimization As we high-grade our portfolio and focus on our most resilient assets,we expect emissions from our operations to reduce over time.Our progress in 20

245、23 We continued on our path towards our operational emissions reduction target in 2023,although compared with 2022(31.9MtCO2e),Scope 1 and 2 emissions remained broadly flat.Our combined Scope 1 and 2 emissions,covered by aim 1 were 32.1MtCO2e a decrease of 41%from our 2019 baseline of 54.5MtCO2ec.Th

246、e total decrease includes 17.9MtCO2e attributable to divestments and 5.0MtCO2e in sustainable emission reductions(SERs).Scope 1(direct)and Scope 2(indirect)GHG emissions(operational control boundary)c,d,e,f(MtCO2e)Scope 1Scope 2604020020.23.82.420221.420231.049.241.733.230.431.1We have al

247、ready exceeded our 2025 target of 20%emission reductions against our 2019 baseline.New projects are coming online,adding to the challenge of reducing our operational emissions and continued investment will be needed to meet our 2030 aim.SERs have been a focus for us,allowing us to apply our skills t

248、o emission reductions and we intend to maintain that focus.a Changed from 54.4MtCO2e for consistency in rounding.b This chart is intended to be illustrative of a range of contributions that individual aspects of our plans may make relative to others.They should not be taken to represent specific exp

249、ectations of actual impacts of actions driving delivery.c Scope 2 emissions on a market basis.d Operational control data comprises 100%of emissions from activities operated by bp,going beyond the Ipieca guidelines by including emissions from certain other activities such as contracted drilling activ

250、ities.See Due to rounding some totals may not equal the sum of their component parts.This does not affect the underlying values.f Scope 2 GHG emissions figure for 2022 updated to reflect use of renewable energy in UK and offshore in 2022.See the glossary on pages 59-6154.545.535.632.131.920192020202

251、120222023OperationalefficiencyCCS and hydrogenPortfoliooptimization2030Actions driving aim 1 deliverybMtCO2eNet zero operationsOur aim 1 is to be net zero across our entire operations on an absolute basis by 2050 or sooner.This aim relates to our Scope 1(from running the assets within our operationa

252、l control boundary)and Scope 2(associated with producing the electricity,heating and cooling that is bought in to run those operations)GHG emissions.These emissions were 54.5MtCO2e in 2019a.We are targeting a 20%reduction in our aim 1 operational emissions by 2025 and will aim for a 50%reduction by

253、2030 against our 2019 baseline.Progress and targetsReduction in emissions against the 2019 baseline(absolute basis).2021 performance2023 performance2030 aim2025 target2050 or sooner2022 performance35%20%Net zero50%41%2020 performance16%41%1bp Sustainability Report 202320Getting to net zeroOur approa

254、chImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionIn 2023 our Scope 1(direct)emissions,covered by aim 1,were 31.1MtCO2e an overall increase from 30.4MtCO2e in 2022.Of these Scope 1 emissions,30.2MtCO2e were carbon dioxide and 1.0MtCO2e methanea.Overall emiss

255、ions increased due to temporary operational changes,project start-ups and growth,which were partially offset by delivery of SERs and divestments.In 2023 our Scope 2b(indirect)emissions,covered by aim 1,decreased by 0.4MtCO2e,to 1.0MtCO2e,compared with 2022.Lower carbon power agreements,including tho

256、se at our Cherry Point and Whiting refineries,contributed to this decrease.Overall,key factors affecting our Scope 1 and 2 emissions in 2023 included:y The Archaea Energy and TravelCenters of America acquisitions increased Scope 1 and 2 emissions by 0.4MtCO2e.y Divestments reduced Scope 1 and 2 emis

257、sions by 1.9MtCO2e.y Delivery of SERs reduced Scope 1 and 2 emissions by 0.9MtCO2e.y Other permanent increases of 1.2MtCO2e include projects that came online in 2023,for example Tangguh Train 3,Mad Dog phase 2,bpx energy production increases,and Seagull North Sea start-up.y Total temporary productio

258、n-related changes accounted for an increase of 1.3MtCO2e.y Total hydrocarbons flared increased from 654kt to 861kt primarily due to operational flaring issues in the Azerbaijan-Georgia-Trkiye region and Tangguh Train 3 start-up.SERs from our businesses and activities included:y Cherry Point and Whit

259、ing refineries reduced Scope 2 emissions from purchased electricity by 255ktCO2e through lower carbon power agreements.y Oman operations and wells teams achieved combined operational emissions reductions of 77ktCO2e through a number of interventions including flaring optimization and improved operat

260、ional efficiency.y The expansion of bpx energys network of centralization facilities reduced operational emissions by 149ktCO2e.The Bingo facility came online in August 2023.bp equity share emissionsWe report our operational(Scope 1 and 2)GHG emissions in our ESG datasheet,with reference to two boun

261、daries operational control and bp equity share.Operational control boundary covers bp-operated assetsc.bp equity share covers 100%of emissions from subsidiaries and the percentage of emissions equivalent to our share of joint arrangements and associatesd.Our aggregate Scope 1 and 2 emissions increas

262、ed on an equity share basis,compared with Due to rounding some totals may not equal the sum of their component parts.This does not affect the underlying values.b Scope 2 emissions on a market basis.c Operational control data comprises 100%of emissions from activities operated by bp,going beyond the

263、Ipieca guidelines by including emissions from certain other activities such as contracted drilling activities.Read more bp equity share data comprises 100%of emissions from subsidiaries and the percentage of emissions equivalent to our share of joint arrangements and associates,other than bps share

264、of Rosneft.On 27 February 2022,bp announced that it intends to exit its 19.75%shareholding in Rosneft Oil Company(Rosneft).bp ceased equity accounting for Rosneft from this date.e Excluding bps share of production in Rosneft.On 27 February 2022,bp announced that it intends to exit its 19.75%sharehol

265、ding in Rosneft Oil Company(Rosneft).bp ceased equity accounting for Rosneft from this date.See the glossary on pages 59-61Our actionsPortfolio optimization Becoming net zero on an absolute basis across the carbon in our upstream oil and gas production is partly linked to reducing that production.We

266、 have stated that we are aiming for a reduction in oil and gas production by around 25%by 2030,compared to 2019e.This aim takes account of anticipated base decline of existing fields,new projects coming online and the ongoing strategic high-grading of our portfolio which we are designing to be opera

267、tionally and economically robust,and resilient to unplanned or unexpected factors such as price volatility and geopolitical risk.Our exploration capital expenditure has declined from a peak of$4.6 billion in 2010,to around$600 million in 2023.Our progress in 2023 Since 2019 our estimated Scope 3 emi

268、ssions covered by aim 2 have reduced by 13%,which is around the mid-range of our 2025 target of a 10-15%reduction against our 2019 baseline.Our plans and forward path for emissions covered by aim 2 will take into account growth in underlying production due to major project start ups out to 2025,defe

269、rred divestments and growth in bpx energy productionNet zero productionOur aim 2 is to be net zero on an absolute basis across the carbon in our upstream oil and gas production by 2050 or sooner.This is our Scope 3 aim and is based on bps net share of productione(around 361MtCO2 in 2019).It is assoc

270、iated with the CO2 emissions from the assumed combustion of upstream production of crude oil,natural gas and natural gas liquids(NGLs).We are targeting a 10-15%reduction by 2025 and will aim for 20-30%by 2030 against our 2019 baseline.Progress and targetsReduction in emissions against the 2019 basel

271、ine(absolute basis).2021 performance2023 performance2030 aim2025 target2050 or sooner2022 performance16%10-15%Net zero20-30%15%2020 performance9%13%2bp Sustainability Report 202321Getting to net zeroOur approachImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductio

272、nThe estimated Scope 3 emissions from the carbon in our upstream oil and gas production were 315MtCO2 in 2023 a slight increase from 307MtCO2 in 2022,mainly associated with an increase in underlying production due to the ramp-up of major projects and higher asset performance.Estimated emissions from

273、 the carbon in our upstream oil and gas production(MtCO2)40030020002002220233361307Estimated emissions from the carbon in our upstream oil and gas production by product(MtCO2)2019 baseline2020202120222023performanceTotal3615Oil2158Gas5146NGL1111

274、91011a At the point of net zero,our net zero carbon intensity aim 3 also means we will be net zero on an absolute basis.b This chart is intended to be illustrative of a range of contributions that individual aspects of our plans may make relative to others.They should not be taken to represent speci

275、fic expectations of actual impacts of actions driving delivery.See the glossary on pages 59-61Our actionsProgress on our aim 3 is directly linked to our strategy to grow our low carbon businesses and provide products that have lower lifecycle emissions.We anticipate that this change in our sales por

276、tfolio will be supported by the continued evolution of the market.We are aiming to increase our capital investment in our transition growth engines,which include low carbon activity.Our aim 5 is to increase the proportion ofinvestment into non-oil and gas.Read more about our aim 5 on page 26.Aim 3 u

277、pdateEnergy included under aim 3 for 2019(our baseline year)has been restated to 20.3EJ and the emissions to 1,597MtCO2e to correct misstatements in sales data identified through business reviews and digital improvement projects.Overall,the2019 carbon intensity remained at 79gCO2e/MJ.We have made si

278、milar restatements for other reporting years which are captured in the data in this section.In 2023 improvements in our aim 3 methodology included a more granular assignment of environmental attributes to power and the application of increased consistency between financial and carbon reporting which

279、 resulted in the inclusion of additional sales volumes by equity accounted entities.Further details of the aim 3 methodology are described in the bpBasis of Reporting chargingand convenienceBioenergy15-20%reduction2030Actions driving aim 3 deliveryb For aim 3,reducing the average carbon intensity of

280、 sold energy products is driven by efforts to decarbonize the products we sell today and investments in EV charging,bioenergy,renewables and power as well as the transition of our energy product trading mix in line with the decarbonization of ouractivities and global energy over time.Net zero salesO

281、ur aim 3 is to reduce to net zero the carbon intensity of the energy products we sell by 2050 or sooner.This aim applies to the average carbon intensity of the energy products we sell.It is estimated on a lifecycle(full value chain)basis from the use,production,and distribution of sold energy produc

282、ts per unit of energy(MJ)delivered.Progress and targetsReduction in the carbon intensity of our sold energy products against the 2019 baseline.2021 performance2023 performance2030 aim2025 target2050 or sooner2022 performance1%5%Net zero a15-20%2%2020 performance2%3%3bp Sustainability Report 202322Ge

283、tting to net zeroOur approachImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductiona The percentage change is calculated from the source data instead of the rounded carbon intensity number.b The aggregate lifecycle emissions and energy values used in the calculati

284、on of the average lifecycle carbon intensity of sold energy products is provided inthe bp ESG Datasheet 2023.c Previously reported aim 3 figures for the period 20192022 have been restated to correct misstatements in sales data identified through business reviews and digital improvement projects.d Co

285、vers all power,including renewable and non-renewable.e The share of energy is based on the total energy associated with sales of energy products,with electricity represented as fossil equivalence ofsold energy.Due to rounding the sum of the component parts may not exactly equal 100%.This does not af

286、fect the underlying values.See the glossary on pages 59-61Our strategic themesWe expect the implementation of our strategy across our three strategic pillars resilient hydrocarbons,convenience and mobility,and low carbon energy to support delivery of our aim 3 up to and beyond 2030.In charting our a

287、im 3 path,we recognize that significant aim 3 benefits arise over the longer term for example,as offshore wind projects that we are working on through this decade come into operation after 2030;or as utilization rates for EV charge points increase in later years as EV uptake grows.The same is true o

288、f our current investment in convenience and retail platforms with a longer-term aspiration to introduce lower carbon transport offers as our customers energy needs evolve.Examples of actions to advance aim 3 across our three strategic pillars include:Resilient hydrocarbons We are in action to grow o

289、ur bioenergy businesses.By 2025 we aim to grow our biofuels production to around 50kb/d and our biogas supply volumes to around 40mboe/d.Our refinery operations are in regions where we expect to see strong growth in bioenergy demand,and our manufacturing processes are well positioned to adapt to thi

290、s.Read more about bioenergy on page 26.Convenience and mobility EV charging is growing at pace and we see significant value arising through our focus on fast charging for on-the-go customers.The majority of charge points we roll out globally are rapid or ultra-fast and we aim to grow our global netw

291、ork and increase our energy sales.Low carbon energy When we see strategic value in doing so,we intend to integrate our electricity generation positions with a growing commercial and industrial customer portfolio and aim to significantly increase our electricity trading volumes.Our progress in 2023 I

292、n 2023 the average carbon intensity of our sold energy products was 77gCO2e/MJ.This represents a 3%a decrease from our 2019 baseline,driven by changes in the sold product mix,methodology updates and the impact of portfolio changes such as the full year accounting of sales by EDF Energy Services.Aver

293、age carbon intensity of sold energy productsb,c(gCO2e/MJ)807570655560502002277787779Performance2025 target 2030 aim(5%)(15%)(20%)202377Average carbon intensity of sold energy productsc(gCO2e/MJ)2019 2020 2021 2022 2023Average emissions intensity of energy products7977787777Refined energy

294、products9592929292Gas products6867676767Bioproducts4744434340Power productsd5658565250Share of energy delivered per energy product typec,e(%)7550250200222023100GasRefinedBioPower485047444346765474752845461111Full value chain emissions for energy productsAim 3 is estimated on a lifecycle b

295、asis covering the full value chain of well-to-wheel or well-to-wire emissions associated with the energy products we sell.Product lifecycleExtraction/feedstock productionProcessingTransportation and distributionTransportationTransportationEnd useTransmission and distributionGenerationFuel productsPo

296、wer productsbp Sustainability Report 202323Getting to net zeroOur approachImproving peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionOur actions Methane measurementWe have completed the implementation of our planned methane measurement approach across our upstream oil

297、and gas assets,with the introduction of software for flare efficiency,predictive emissions monitoring on gas turbines,and additional or updated meters among other measures.This follows more than three years work to identify suitable measurement solutions and manage their roll-out across our varied a

298、nd complex global operations.We are also using drone and aircraft-mounted sensors to verify reported methane emissions at selected locations and in 2023 this approach was tested further ahead of planned wider deployment up to 2025.In 2023 together with Baker Hughes,we tested and deployed Flare.IQ to

299、 track flare performance in near real-time.The new technology uses data from existing metering systems and modelling to better determine methane emissions from flaring.Initial insights from our methane measurement activities suggest that our upstream flaring efficiency may,under certain environmenta

300、l conditions,be better than previously understood and methane emissions from gas turbines may be lower than previously understood based on the existing methodology.We intend to take stock of our targets under aim 4 based on what we learn from our ongoing methane measurement activities and to take ac

301、count of the Oil&Gas Decarbonization Charter announced at COP28,which we signed in 2023.Across bpx energys operations in the US,we use a varied approach to detection and measurement,reflecting the geographic spread of bpx energy facilities and the diverse types of equipment that may be methane sourc

302、es.This approach includes measurement programmes,focused on pneumatics and fugitive leaks,direct measurement of large engines and detailed engineering calculations.These activities are complemented by the use of fixed wing aerial surveys,drones and handheld cameras.Methane reduction activityIn 2023

303、we continued work to reduce operational methane emissions including upgrades in our current operations and advances in the design of our new facilities.Methane sustainable emissions reductions(SERs)were around 56ktCO2e,and were delivered across multiple projects.For example,our North Sea and Trinida

304、d and Tobago operations reduced methane emissions from flaring and venting by using nitrogen as a purge gas.bpx energy utilizes electrification and centralized production facilities that allow new well sites to be built without tanks,flares or on-site compression,which reduces the methane and flarin

305、g intensity in its US,Permian Basin operations.This network of facilities was expanded with the start-up of the Bingo facility in August 2023.a Methane intensity refers to the amount of methane emissions from bps operated upstream oil and gas assets as a percentage of the total gas that goes to mark

306、et from those operations.Our methodology is aligned with the Oil and Gas Climate Initiatives(OGCI).b Methane intensity is currently calculated using our existing methodology and,while it reflects progress in reducing methane emissions,will not directly correlate with progress towards delivering the

307、2025 target under aim 4.c The 0.20%methane intensity target is based on our new measurement approach.Methane intensity is currently calculated using our existing methodology.d The 50%reduction we are aiming for is against a new baseline which we plan to set based on the new measurement approach.See

308、the glossary on pages 59-61Reducing methaneOur aim 4 is to install methane measurement at all our existing major oil and gas processing sites by 2023,publish the data,and then drive a 50%reduction in methane intensity of our operations.And we will work to influence our joint ventures to set their ow

309、n methane intensity targets of0.2%.Progress and targetsMethane intensitya0.12%b 2020 performance0.07%b2021 performance0.05%b2022 performance0.05%b2023 performance0.20%2025 targetc50%Aimd4bpx energy Bingo facility,Texas,USbp Sustainability Report 202324Getting to net zeroOur approachImproving peoples

310、 livesCaring for our planetEngaging stakeholdersOur reportingIntroductionTechnology implementationThe use of technologies to detect,measure and reduce methane is evolving at pace.The measurement technology solutions adopted on our flares and gas turbines will provide us with real-time data to help i

311、mprove methane performance.We will monitor new developments and assess new solutions as they emerge.Non-operated joint venture(NOJV)activitiesWith guidance from our NOJV Solutions team,we are working to help our NOJVs improve the reporting and mitigation of their methane emissions.We have prioritize

312、d collaboration with NOJVs that have the greatest potential to reduce methane emissions,and we are working on multiple aspects related to methane emission reductions,including measuring and reporting,the use of technology and setting meaningful targets.We are helping different NOJVs make progress an

313、d in many instances we are learning from them.We encourage them to work in line with guidance from organizations such as the Methane Guiding Principles(MGP)and the Oil and Gas Methane Partnership(OGMP).Our collaborations with NOJVs in 2023 included seminars on methane monitoring technologies,awarene

314、ss raising sessions on OGMP and workshops to identify emissions reductions opportunities.Collaboration and methane advocacyIn 2023 we retained gold status for our plans to measure methane emissions under the OGMP 2.0 reporting framework.This award recognized the work of many bp teams and collaborati

315、ons with our partners including NOJVs.Our work under OGMP is consistent with and goes beyond aim 4.In December 2023 bp and the State Oil Company of the Azerbaijani Republic(SOCAR)signed a memorandum of understanding to work together to improve methane reduction education,capability development,measu

316、rement,reporting,verification,technology and technical expertise in Azerbaijan.This followed the launch of the Advancing Global Methane Reductions(AGMR)project in Azerbaijan in November.This project is part of a larger undertaking being run through the MGP which aims to accelerate country-level meth

317、ane emissions reductions.As part of the AGMR,SOCAR and bp plan to bring together key stakeholders,partners,research institutes and government leaders to support efforts towards developing a methane reduction pathway that meets the needs of Azerbaijans energy sector.We have advocated for sound methan

318、e policy,including the federal regulation of methane emissions in the US.Read more about our advocacy activities on page Methane intensity refers to the amount of methane emissions from bps operated upstream oil and gas assets as a percentage of the total gas that goes to market from those operation

319、s.Our methodology is aligned with the Oil and Gas Climate Initiatives(OGCI).b Methane intensity is currently calculated using our existing methodology and,while it reflects progress in reducing methane emissions,will not directly correlate with progress towards delivering the 2025 target under aim 4

320、.Oil&Gas Decarbonization CharterWe are part of a group of more than 50 companies that have signed the Oil&Gas Decarbonization Charter,launched at COP28 in December 2023.The Charter includes aims to achieve net zero operations by or before 2050,and zero routine flaring and near-zero methane emissions

321、 by 2030.We believe it represents an important opportunity for the oil and gas sector to continue driving down operational emissions through concerted action.We know that different players in our sector are at different stages in their decarbonization journeys,but we believe a collective,inclusive a

322、pproach can contribute to global efforts to meet the Paris goals.The Charter recognizes the need for leading companies to support others in the earlier stages of their methane journeys.We also intend to donate$25 million to the Global Flaring and Methane Reduction trust fund a World Bank initiative

323、to boost financing mechanisms and technical solutions that enable methane emissions reduction.Our progress in 2023 We maintained our methane intensity at 0.05%in 2023b.Methane emissions from upstream operations,used to calculate our intensity,increased by around 10%from 28kt in 2022 to 31kt in 2023.

324、This increase is primarily from changes in flaring in our Azerbaijan-Georgia-Trkiye region and Tangguh operations.It was offset by methane emissions reductions from delivery of SERs.Marketed gas volumes increased by 4%to 3,332bcf in 2023.We remain on track to reach zero routine flaring by 2030 in li

325、ne with our aim under the World Banks Zero Routine Flaring Initiative.Our bpx energy operations have achieved zero routine flaring,ahead of our 2025 goal.Methane intensitya,b02002220230.200.150.100.050.140.120.070.050.05bp Sustainability Report 202325Getting to net zeroOur approachImprovi

326、ng peoples livesCaring for our planetEngaging stakeholdersOur reportingIntroductionOur actions BioenergyWe plan to grow our established bioenergy businesses.In 2022 we acquired Archaea Energy,which continued its growth throughout 2023.In October Archaea Energy started up its modular design renewable

327、 natural gas(RNG)plant in Medora,Indiana,US which represents an industry first and can help to streamline and accelerate build times for other RNG plants.Archaea Energy has a development pipeline of around 80 projects,and expects to start up 15-20 new plants per year through 2025.In 2023 we increase

328、d our biofuels production by 18%year on year to 32kb/d and biogas supply volumes by 80%year on year to 15mboe/d reflecting the uplift from Archaea.More$into transitionOur aim 5 is to increase the proportion of investment we make into our non-oil and gas businesses.Over time,as investment goes up in

329、low and zero carbon,we see it going down in oil and gas.Progress and targetsAnnual$investment in transition growth engines202020222025 target20232030 aim2021$1.0bn$3.8bn$7-9bn$6-8bn$2.4bn2019$0.6bn$4.9bn5EVsTogether with our strategic convenience site network,our investment in EV charging will help

330、us offer low carbon solutions to customers.We believe that for road transport to decarbonize at the pace and scale required to achieve the goals of the Paris Agreement,it is necessary for the roll-out of EV charging infrastructure and use of EVs to be scaled up in parallel with,or even ahead of,the

331、required decarbonization of electricity grids.In 2023 we continued to grow our EV charging network:y In the US,we announced that bp pulse has entered into an agreement with Tesla for the future purchase of$100 million of ultra-fastchargers.The investment will facilitate the expansion of the bp pulse

332、 public network across the US and support EV fleet customers by deploying chargers at their private depots.y In the UK,in partnership with The EV Network and NEC Group,we opened the Gigahub at the NEC Campus,Birmingham.It is the UKs largest public EV charging hub,capable of charging around 180 EVs s

333、imultaneously.y We announced a new global mobility agreement with Uber,which will see us work together to help accelerate Ubers commitment to become a zero-tailpipe emissions mobility platform in the US,Canada and Europe by 2030 and globally by 2040.y We formed a joint venture with Iberdrola to accelerate the roll out of EV charging infrastructure in Spain and Portugal,with plans to invest up to 1