BP plc: Best ESG Oil & Gas Operator Global 2020

Global oil and gas giant BP is embracing the opportunity to restructure its business model. It has pledged to “reimagine energy” on a quest to reach net-zero emissions by 2050. The company is being reinvented, with fresh leadership and a four-core focus: production and operations, customers and products, gas and low-carbon energy, and innovation and engineering. Each group collaborates with three integration teams to realise the environmental goals. The new management structure eschews top-down leadership in favour of round-table collaboration. Integration teams specialise in strategy and sustainability, trading and shipping, regions, cities and solutions. BP enablers provide expertise in finance, legal affairs, communication and advocacy, culture and people. CEO Bernard Looney has set the controls for a net-zero future, and pledged to keep BP “performing while transforming”. BP aims for methane measurement at all their major oil and gas processing sites by 2023, transparent reporting and 50% reduction in their operated methane intensity. The company will also reframe relationships with trade associations, and incentivise employees to deliver on their aims and advocate for net zero. BP plans to increase its proportion of investment into non-oil and gas. The CFI.co judging panel approves of the company’s reinvention, and presents BP plc with the 2020 award for Best ESG Oil & Gas Operator (Global).

marten

Recent Posts

Nordea Asset Management: Best ESG Team Europe 2024

Nordea Asset Management (NAM) has championed responsible investment for over three decades, beginning in 1988…

2 days ago

SegurCaixa Adeslas: Best Insurer Spain 2024

SegurCaixa Adeslas, a pre-eminent Spanish health insurance company, has demonstrated a formidable and truly impressive…

1 month ago

Banco BPI: Excellence in Sustainable Banking Initiative Portugal 2024

Banco BPI's dedication to sustainability is a beacon of proactive environmental and social responsibility. Beyond…

1 month ago

BSE Ltd: Champions of Capital Market Innovation and Efficiency Asia 2024

BSE Ltd, formerly known as the Bombay Stock Exchange, is a crucial player in India’s…

1 month ago

TMT Investments Plc: Visionary Leaders in Global Tech Venture Capital Europe 2024

TMT Investments Plc, publicly quoted on the AIM market of the London Stock Exchange since…

1 month ago

BNP Paribas Fortis: Outstanding Contribution to SME Financing Benelux 2024

BNP Paribas Fortis is a key player in the Belgian banking sector with a rich…

2 months ago