The Financial Times reports that BP CFO Brian Gilvary has called for countries to act rapidly to prevent global temperature rises despite the financial problems of the coronavirus pandemic.

Speaking during a FT Global Boardroom online conference, Gilvary told the audience that issue of climate change was vital and that energy transition was a key part to which there was no other option.

BP’s commitment to transition comes after its recent pledge to be net-zero, now joined by Shell and Total. BP is aiming for absolute net-zero emissions from all operations and all upstream oil and gas production by 2050 or sooner. The moves have, however, come under scrutiny from Transition Pathway Initiative (TPI), with the organisation expressing some scepticism over the ability of the European oil major to meet their ambitions.

BP has responded to TPI’s analysis saying that it focuses on carbon intensity, and as a single measure of progress towards the Paris goals it is not wholly reliable, noting that carbon intensity can fall even if absolute emissions remain flat, or even grow.

Share Story: