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Download BP on Climate Change Brian Sullivan August 23, 2007
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BP on Climate Change Brian Sullivan August 23, 2007 The BP Group Story BP on Climate Change • Our Point of View • Our Journey • Our Low Carbon Businesses • Water The BP Group Story 2 BP’s point of view on climate change • BP supports a precautionary stance • This is a long term issue • We need an inclusive approach • Government and businesses must work together • Policy and regulation have a role • As do fossil fuels • And BP’s own actions The BP Group Story BP climate change journey 1997 BP publicly acknowledges the need for precautionary action to cut GHG emissions after exiting the Global Climate Coalition. 1999 BP initiates the CO2 capture project with other companies and governments, studying methods of capturing and storing CO2 at power plants. 1998 BP sets target to cut emissions from our operations to 10% below 1990 levels by 2010 The BP Group Story 2001 BP achieves its 2010 target nine years early, having reduced GHG emissions by energy efficiency projects and cutting flaring of unwanted gas. 2000 BP begins funding the Carbon Mitigation Initiative at Princeton University, exploring solutions to climate change. 2003 Based on work at Princeton, BP sets out a range of technology options to stabilize GHG emissions over 50 years, including increases in solar, wind, gasfired power and carbon capture and storage. 2002 BP announces plans to build a wind farm at Nerefco, the Netherlands. 2005 BP announces plans for the world’s first industrial-scale hydrogen power plant. BP launches BP Alternative Energy 2004 BP’s solar business moves into profit and announces plans to double production. BP launches CO2 capture and storage project at the In Salah gas field in Algeria. BP’s low carbon businesses • BP Alternative Energy was launched in November 2005 − Low carbon power generated from the sun, wind, natural gas and hydrogen − Plans to invest $8 billion over 10 years − Reduce emissions by 24 million tonnes by 2015 • Formed a new Biofuels business in June 2006 − Global responsibility for biofuels activities − Established the Energy Biosciences Institute with plans to invest $500 million over the next ten years to provide a pipeline of technology for the new business − Partnership with DuPont to develop, produce and market advanced biofuels The BP Group Story BP and Water • Continuous energy efficiency improvement is our objective, including water handling and use • At our Carson refinery we use recycled water and plan to rely on it even more in the future • Our Carson Hydrogen Power project plans on 100% recycled water • In 2002 BP Carson Refinery was the first California refinery to be ISO 14001 certified • Developing various projects to reduce and eventually hope to eliminate storm water discharges The BP Group Story