ACCR Company Engagement BP plc
BP plc is a multinational oil and gas company, headquartered in London, England.
One of the world's seven oil and gas "supermajors", it operates in all areas of the industry, but also holds renewable energy interests in biofuels, wind power, smart grid and solar technology. From 1988 to 2015, it was the third largest investor-owned fossil fuel emitter in the world.
ACCR has engaged with BP on its climate change commitments and decarbonisation strategy since 2022, primarily focusing on its disclosures.
In March 2023, BP scaled back its 2030 decarbonisation aims, reducing its Scope 1+2 goals from 50% to 30-35% emissions reduction, and its Scope 3 goals from 35-40% to 20-30%, both against a 2019 baseline of emissions.
