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.