Getting to net zero
Our net zero operations aim
Our aim is to reach net zero* by 2050 or sooner for Scope 1 and 2 emissions within bp’s operational control (on a CO2e basis), including by maintaining ‘near-zero’ methane intensity* across our operated producing assets, enabled by supportive government policies.
- Our interim target is a 20% reduction in our operational emissions by the end of 2025 and informed by our outlook and underlying assumptions, which may change over time, we are aiming for a 45-50% reduction by the end of 2030 – both against the 2019 baseline.
- We are targeting 0.20% methane intensitya by the end of 2025 and maintaining ‘near-zero’b methane intensity thereafter.
This aim relates to our Scope 1 (from running the assets within our operational control) and Scope 2 (associated with producing the electricity, heating and cooling that is brought in to run those operations) GHG emissions. These emissions were 54.5MtCO2e in 2019. We are also continuing targeted engagement with the operators of key non-operated joint ventures to promote activity to reduce their operational GHG emissions and methane intensityc.
Our progress on Scope 1 and 2 emissions in 2024
Our combined Scope 1 and 2 emissions, covered by this aim were 33.6MtCO2e – a decrease of 38% from our 2019 baseline. The total reduction includes 18MtCO2e attributable to divestments and 5.4MtCO2e in emissions reduction activities.
Compared with 2023 (32.1MtCO2e), Scope 1 and 2 emissions increased in 2024 due to growth in our portfolio, project start-ups and operational issues at Tangguh, Indonesia.
Our progress on methane emissions in 2024
In 2024 we started reporting on the basis of our new methane measurement approach across our major operated oil and gas processing sites.
Using this approach our methane intensity was 0.07% (2023 0.05%a) and the methane emissions from our upstream operations used to calculate this intensity were 46kt (2023 31kt).
The higher emissions and intensity in 2024 are primarily from flaring due to operational issues in our Tangguh, Indonesia operations, and increases from a temporary operating mode quantified as a result of our new measurement approach in our Tangguh operations.
Our net zero sales aim
Our aim is to reduce to net zero the carbon intensity of the energy products* we sell by 2050 or sooner, enabled by supportive government policies and by decarbonization of energy demand.
- Our interim target is a reduction in intensity of 5% by the end of 2025. Informed by our strategy reset, and a range of assumptions, our aim is now a reduction of 8-10% for the end of 2030 against the 2019 baseline.
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 products per unit of energy (MJ) delivered.
We have updated our net zero sales methodology to follow a net volume accounting approach, guided by Ipieca’s sectoral guidance (2016) for Scope 3 reporting. The approach focuses on identifying the point where the largest amount of sold products is transferred within a given commodity’s value chain. We believe this will better reflect and track our strategic progress over time. More detail is provided in bp’s 2024 Basis of Reporting.
Our progress in 2024
The average carbon intensity of our sold energy products was 79gCO2e/MJh.
This represents a 6%i reduction from our 2019 baseline, driven by improvements in the well-to-tank emissions of sold products and changes in the sold product mix.
The 2024 figures include part-year accounting of sales from GETEC ENERGIE, the acquisition of which we completed in August 2024, and for bp bioenergy and Lightsource bp, of which we took full ownership in October 2024.
Energy included under net zero sales for 2019 (our baseline year) has been restated to 7.9EJ and the associated lifecycle emissions to 671 MtCO2e. The 2019 carbon intensity baseline is now 84gCO2e/MJ. We have also updated all other reporting years.
Strategic progress
Our net zero sales progress and reductions in the average carbon intensity of sold energy products are directly linked to the implementation of our strategy. In part, they are also driven by our efforts to decarbonize the products we currently sell, and by our investments in EV charging, bioenergy, renewables, power and hydrogen in line with the decarbonization of our activities and global demand over time.
We are investing in renewable energy through capital-light partnerships in renewables and through high-grading and focusing our hydrogen portfolio. Two hydrogen projects were taken to final investment decision (FID) in 2024, one at our refinery in Lingen, Germany and another, in partnership with Iberdrola, in our refinery operations in Castellón, Spain.
Footnotes:
a In 2024 reported absolute methane emissions from upstream major oil and gas processing sites are based on our new measurement approach. Prior to 2024 these emissions were calculated using a different methodology and therefore the methane intensity reported in those years and calculated using that data does not directly correlate to progress towards delivering the 2025 target. Prior year data is provided for information purposes, and we do not seek to directly compare prior years.
b Both the COP28 Oil & Gas Decarbonization Charter (OGDC) & UNEP suggest 0.2% as the threshold for ‘near-zero’ methane intensity. By reference to either of these thresholds, our 2024 methane intensity 0.07% can be considered to be near-zero.
c This may include promoting the use of measurement technologies, emission reduction plans, aims or targets, and their participation in external initiatives such as the OGDC, Oil & Gas Methane Partnership (OGMP) or the World Bank’s Zero Routine Flaring (ZRF) initiative.
d Including Scope 2 emissions on a market basis.
e Due to rounding some totals may not equal the sum of their component parts. This does not affect the underlying values.
f Operational control data comprises emissions from source activities operated by bp or otherwise within bp’s operational control boundary. See bp Basis of Reporting 2024.
g Methane intensity refers to the amount of methane emissions from bp’s operated upstream oil and gas assets as a percentage of the total gas that goes to market from those operations. Our methodology is aligned with the Oil and Gas Climate Initiative.
h On the updated methodology basis.
i The percentage change is calculated from the source data instead of the rounded carbon intensity number.
j Previously reported figures for the period 2019-2023 have been restated to update the 2019 baseline and the years 2020-2023 in line with the updated methodology for the net zero sales metric. For more detail on how this metric is calculated see the bp Basis of Reporting 2024.
k The aggregate lifecycle emissions and energy values used in the calculation of the average lifecycle carbon intensity of sold energy products is provided in the bp ESG Datasheet 2024.
*Glossary term. Find out what we mean by net zero and other key terms.