We applaud the Biden administration’s ambitious Nationally Determined Contribution target. US leadership is essential if the world is to achieve the goals of the Paris Climate Agreement.
The Biden administration’s NDC with interim targets will help speed the transition to a clean energy economy, boost competitiveness and jobs at home and motivate other nations to increase the ambitions of their Paris commitments.
bp shares the administration’s goal of net zero by 2050, and we’re encouraged by its interim target of 50% emissions reduction by 2030. For our own goals this decade, we aim to increase low carbon investments 10-fold, decrease oil and gas production 40% globally and reduce operational emissions, including ending routine flaring by 2025 in our US onshore operations.
We’re aiming to be a net zero company by 2050 or sooner, and to help the world get there, too. This requires government, industry and consumers collaborating to accelerate meaningful action. We look forward to working with the Biden administration and Congress on advancing policies that will help the US meet its NDC objectives.