Business

BP quits US lobby groups over climate change differences | Business News

By February 26, 2020 No Comments
BP quits US lobby groups over climate change differences | Business News

Oil giant BP is to quit three US-based energy lobby groups over differences on climate change policy.

The announcement comes two weeks after the company’s new boss vowed to “reinvent” the company with a goal of becoming carbon net zero by 2050.

That included a review of its membership of various trade associations around the world, which lobby governments on policy.

‘I get it’ on climate change, says BP chief

With that review now complete, BP said it would quit the American Fuel & Petrochemical Manufacturers (AFPM) organisation, the main US refining lobby.

That follows the withdrawals of rivals Royal Dutch Shell and Total from AFPM last year.

BP will also not renew its memberships of the Western States Petroleum Association (WSPA) and Western Energy Alliance.

The company said it had found “misalignments that could not be reconciled” with the three groups.

It said there were five other organisations “with which it is only partially aligned on climate” and that it had “communicated these differences to these associations”.

BP chief executive Bernard Looney said: “BP will pursue opportunities to work with organisations who share our ambitious and progressive approach to the energy transition.

“And when differences arise we will be transparent.

“But if our views cannot be reconciled, we will be prepared to part company.”

Oil and gas companies have come under intense pressure from investors and climate activists to fall in line with the 2015 Paris goal of limiting global warming to below 2C from pre-industrial levels.

In response, BP, Shell and other big refiners have been investing in cleaner fuel technologies.

But the AFPM – which has 300 US and international members including Exxon Mobil and Chevron – has opposed tightening some standards, saying this would hurt smaller refiners.

BP operates three refineries in the US.

The company’s recent pledge on climate change sees it becoming the first of the so-called oil “supermajors” to concede that its oil and gas production will fall as a result of its changing focus.

Its move has been met with scepticism by environmental activists, who have targeted it in a series of protests.

However the Church Commissioners – the investment arm of the Church of England – has welcomed BP’s initiative.

Leave a Reply