Carbon neutrality in 2050 is one of the ambitions of the oil giant BP, which wants to accelerate its energy transition. But even better, the British company has decided to involve its employees in this effort. The latter will in fact be allocated a share of the company’s shares. The company therefore wishes to rebound on new markets after a catastrophic year 2020 marked by layoffs and massive financial losses.
Carbon neutrality by involving employees
Distribution of shares to 60,000 employees
To achieve carbon neutrality by 2050, the oil company’s CEO has made a historic decision. Bernard Looney has chosen to allocate a share of BP ‘s stock to his 60,000 employees. In 2021, he wants to involve his employees in the company’s common project for a greener future. However, the amount of shares allocated will differ according to the hierarchical level.
It should be noted that the shares will be blocked until 2025, at which time employees will be able to sell them.
A 10-fold increase in investment in renewable energy
The company is giving itself the means to make its claims. It is going to increase its investments in renewable energy by a factor of 10, with the aim of tripling its capacity by 2030. In the long term, BP hopes to reduce its dependence on hydrocarbons by reducing its oil production by 40%.
A year 2020 to forget
These commitments are also intended to give the company a more positive outlook. Because of the health crisis, 10,000 employees were laid off. For the year 2020, the company has a net loss of $20 billion in oil assets. It recorded a profit decline of $5.7 billion, far from the $10 billion increase in 2019.
In short, BP suffered huge losses as a result of the pandemic. In fact, investing in clean energy offers new opportunities in new growth markets.
The solar sector in Europe is expected to continue to grow in 2023, with project viability improving despite inflation-related increases in project costs.
RWE is commissioning Casa Valdes, a 44 MWac solar power plant in the province of Guadalajara, near Madrid. The installation will be able to supply 30,000 Spanish homes with electricity per year.
Oil prices continued to decline on Wednesday as concerns over China’s health situation intensified while the world’s second largest economy is in the grip of a major covid.
Following the announcement of the cessation of marine war insurance, British reinsurers granted Japan 30 billion yen until March. The aim is to secure fuel imports from Japan via Sakhalin-2 in the Russian Far East at the height of winter demand.
Enjoy unlimited access to the latest industry news. Cancel online at any time.
Limited articles per month
Free
Access some of our articles and customize your newsletters according to your interests.
No commitment is required, you can cancel at any time. Your payment method will be automatically debited in advance every 4 weeks. All subscriptions are automatically renewed. You can cancel at any time. Other restrictions and taxes may apply. Offers and prices are subject to change without notice.
Carbon Neutrality: BP Wants to Involve its Employees
Carbon neutrality in 2050 is one of the ambitions of the oil giant BP, which wants to accelerate its energy transition. But even better, the British company has decided to involve its employees in this effort. The latter will in fact be allocated a share of the company’s shares. The company therefore wishes to rebound on new markets after a catastrophic year 2020 marked by layoffs and massive financial losses.
Carbon neutrality by involving employees
Distribution of shares to 60,000 employees
To achieve carbon neutrality by 2050, the oil company’s CEO has made a historic decision. Bernard Looney has chosen to allocate a share of BP ‘s stock to his 60,000 employees. In 2021, he wants to involve his employees in the company’s common project for a greener future. However, the amount of shares allocated will differ according to the hierarchical level.
It should be noted that the shares will be blocked until 2025, at which time employees will be able to sell them.
A 10-fold increase in investment in renewable energy
The company is giving itself the means to make its claims. It is going to increase its investments in renewable energy by a factor of 10, with the aim of tripling its capacity by 2030. In the long term, BP hopes to reduce its dependence on hydrocarbons by reducing its oil production by 40%.
A year 2020 to forget
These commitments are also intended to give the company a more positive outlook. Because of the health crisis, 10,000 employees were laid off. For the year 2020, the company has a net loss of $20 billion in oil assets. It recorded a profit decline of $5.7 billion, far from the $10 billion increase in 2019.
In short, BP suffered huge losses as a result of the pandemic. In fact, investing in clean energy offers new opportunities in new growth markets.
Dans cet article :
Europe’s solar sector to experience record growth in 2023
The solar sector in Europe is expected to continue to grow in 2023, with project viability improving despite inflation-related increases in project costs.
Eni Sustainable Mobility develops sustainable mobility
Eni announces Eni Sustainable Mobility, its new company dedicated to sustainable mobility developing bio-refining, biomethane.
RWE commissions the 44 MWac Casa Valdes solar park near Madrid
RWE is commissioning Casa Valdes, a 44 MWac solar power plant in the province of Guadalajara, near Madrid. The installation will be able to supply 30,000 Spanish homes with electricity per year.
Oil falls again, China in focus
Oil prices continued to decline on Wednesday as concerns over China’s health situation intensified while the world’s second largest economy is in the grip of a major covid.
Japan maintains its Russian Gas Insurance coverage
Following the announcement of the cessation of marine war insurance, British reinsurers granted Japan 30 billion yen until March. The aim is to secure fuel imports from Japan via Sakhalin-2 in the Russian Far East at the height of winter demand.
Holmen II Connected to the Danish Network
Holmen II, a solar combi park in Denmark from European Energy is now connected to the grid.
Bloom Energy expands its presence in Taiwan
Eni Sustainable Mobility develops sustainable mobility
Nexif Ratch Energy joint venture inaugurated
Minesto doubles its electricity production
Kulara Water chooses TotalEnergies ENEOS
Kadapa, India, will host a steel mill
Bloom Energy expands its presence in Taiwan
Tunisia: Call for tenders for 1.7 GW of renewable energy in
BP completes purchase of Archaea Energy
Mexico boosts its oil exploration in 2023
Europe’s solar sector to experience record growth in 2023
Indonesia approves $3.07 billion for Tuna