Renewables Growth, Methane Step Change Core to BP’s Net-Zero Transition

Statement of Environmental Defense Fund Senior Vice President Mark Brownstein

(NEW YORK) Amid growing investor and social pressure for climate action, BP CEO Bernard Looney and other executives discussed how BP will reinvent for a new, low carbon energy era during BP Week 2020.

“Savvy energy companies and their investors understand that a rapid transition to net-zero is not only ecologically necessary, it offers opportunities for business growth in clean energy. BP’s plan contains much-needed ambition, urgency and milestones.

“BP just set a new bar for reducing methane emissions by making measured data the backstop for reporting against its 0.20% goal by 2025. This is a necessary and significant shift. Industry must embrace real emissions measurements over unreliable desktop calculations to prove tangible progress.”

EDF recently released an oil and gas energy transition framework directed at operators and investors alike to help engage industry as they approach and assess progress toward net-zero.

One of the world’s leading international nonprofit organizations, Environmental Defense Fund (edf.org) creates transformational solutions to the most serious environmental problems. To do so, EDF links science, economics, law, and innovative private-sector partnerships. With more than 3 million members and offices in the United States, China, Mexico, Indonesia and the European Union, EDF’s scientists, economists, attorneys and policy experts are working in 28 countries to turn our solutions into action. Connect with us on Twitter @EnvDefenseFund

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