New BP boss to ‘reinvent’ oil firm alongside 2050 net zero target

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The new chief executive of BP has set out a plan to “reinvent” the oil company within a new global energy system to help tackle climate change – to a mixed reaction.

Bernard Looney announced a series of ambitions as part of a shake-up, insisting “we want to change” though that pledge was ridiculed by climate activists.

BP said the strategy included a goal of becoming net carbon zero by 2050, if not before. It is the first oil major to make such a commitment.

But that target would not include eliminating the intensity of the carbon emissions in the products it sells.

BP said it aimed to slash those gases by 50% within 30 years.

Further reading: https://news.sky.com/story/new-bp-boss-to-reinvent-oil-firm-alongside-2050-net-zero-target-11932177