The company says it’ll cut 50% of the carbon intensity of products it sells, and increase the proportion of investment into non-oil and gas businesses over time.
BP will leave the main oil refining lobby group American Fuel and Petrochemical Manufacturers (AFPM), it will also leave the Western States Petroleum Association and the Western Energy Alliance.
“BP will pursue opportunities to work with organizations that share our ambitious and progressive approach to the energy transition,” says BP CEO Bernard Looney. “When differences arise we will be transparent. But if our views cannot be reconciled, we will be prepared to part company.”
This move, on the part of BP, follows a review of the company’s membership of some 30 trade groups around the world. BP’s decision to remain part of the American Petroleum Institute had drawn criticism from climate campaigners.
Other oil giants like Shell and Total had both ended their memberships of the AFPM.