BP have laid out the first steps in their ambitious plan to attain a net zero position by 2050.
The British energy company announce its net-zero ambitions earlier this year and now spelling out how it would scale up its low-carbon energy business and reduce its oil, gas and refining portfolio.
Their eventual goal is to pivot from international oil company focused on producing resources to an integrated energy company focused on delivering solutions to customers.
Over the next ten years, BP wants to increase its annual low carbon investment to around $5 billion a year, creating a portfolio of low carbon technologies, which will include renewables, bioenergy and early positions in hydrogen and carbon capture, utilitisation and storage technologies.
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