SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Greenpeace activists delivered 500 solar panels with a total area of over 800 square meters to BP's London headquarters in St. James Square Feb. 5, 2020. Activists locked to oil barrels blocked all six office doors around the building. (Photo:Suzanne Plunkett/Greenpeace)
'Has BP Just Woken Up to the #ClimateEmergency?' Oil Giant Announces 40% Production Cut by 2030
Green groups say oil giant has much further to go, but announcement marks major industry shift.
Aug 04, 2020
Amid declining fossil fuel consumption worldwide during the Covid-19 pandemic, oil giant BP on Tuesday said it would reduce its oil and gas production by 40 percent by 2030. Climate campaigners said the announcement--on top of a $16.8 quarterly loss--should be a warning to other giants in the industry about the economic writing on the wall when it comes to the future of fossil fuels.
Environmental groups that have long targeted BP as one of the world's premier climate villains said the new commitment to reduce production at a much faster rate than any other comparable-sized company comes at a crucial time and should not be ignored.
"The good news is that BP will actually produce less oil and gas, and they're making that change this decade," John Sauven, executive director of Greenpeace UK, said in a statement. "That is vital. Up to this point, many companies, from fossil fuel majors to the aviation industry have focused on offsetting--which all too often is not even damage limitation."
\u201cBreaking: Big announcement from BP this morning.\n\nBy 2030:\nOil and gas production cut by 40% \ud83d\udcc9\nRenewable energy production increased x20 \ud83d\udcc8\nLow carbon investment increased x10 \ud83d\udcc8\n\nThere is much, much further to go, but has BP just woken up to the #ClimateEmergency?\u201d— Greenpeace UK (@Greenpeace UK) 1596538957
BP, the company responsible for the Deepwater Horizon disaster that spewed an estmated 4 million barrels of oil into the Gulf of Mexico in 2010--also said it will increase renewable energy production and lower carbon emissions over the same period, but the reductions, as Sauven and others point out, don't include all of BP's fossil fuel-related economic interests.
"BP must go further," Sauven said, also noting that BP competitor Shell has yet to make similar commitments. "[BP] needs to account for or ditch its share in Russian oil company, Rosneft. But this is a necessary and encouraging start."
BP attempted to rebrand itself as an eco-friendly company in 2000, adopting a fresh logo and the tagline "Beyond Petroleum," but the 2010 spill, the largest in the history of marine oil drilling, put the company in the public eye for negligent practices.
Still, climate activists say this latest effort, even if motivated by monetary loss for BP rather than concern for the environment, is a win.
\u201cThis feels like the most serious announcement from a =n oil major: after years of pressure from activists, BP to cut oil and gas production 40% by 2030. Far from perfect, but far from normal\nhttps://t.co/r4JSFqbqCM\u201d— Bill McKibben (@Bill McKibben) 1596563583
"Today's announcement is an important signal to the rest of the industry that the only credible way to cut pollution is to cut fossil fuel production," said Kelly Trout, senior research analyst at Oil Change International.
"Vague promises of ambition by 2050 are meaningless," added Trout, "without clear details on the actions oil majors will take to manage a rapid decline in extraction within this decade, the critical time frame for staying within 1.5 degrees of warming."
Why Your Ongoing Support Is Essential
Donald Trump’s attacks on democracy, justice, and a free press are escalating — putting everything we stand for at risk. We believe a better world is possible, but we can’t get there without your commitment. Common Dreams stands apart. We answer only to you — our readers, activists, and changemakers — not to billionaires or corporations. Our independence allows us to cover the vital stories that others won’t, spotlighting movements for peace, equality, and human rights. Right now, our work faces unprecedented challenges. Misinformation is spreading, journalists are under attack, and financial pressures are mounting. As a reader-supported, nonprofit newsroom, your support is crucial to keep this journalism alive. While every gift matters and makes a powerful difference, it gives us the stability to invest confidently in in-depth, fearless reporting — the kind of journalism that holds power accountable and fuels real change. Whatever you can give — $10, $25, or $100 — your steady support helps us stay strong and responsive when the world needs us most. Together, we’ll continue to build the independent, courageous journalism our movement relies on. Thank you for being part of this community. |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Amid declining fossil fuel consumption worldwide during the Covid-19 pandemic, oil giant BP on Tuesday said it would reduce its oil and gas production by 40 percent by 2030. Climate campaigners said the announcement--on top of a $16.8 quarterly loss--should be a warning to other giants in the industry about the economic writing on the wall when it comes to the future of fossil fuels.
Environmental groups that have long targeted BP as one of the world's premier climate villains said the new commitment to reduce production at a much faster rate than any other comparable-sized company comes at a crucial time and should not be ignored.
"The good news is that BP will actually produce less oil and gas, and they're making that change this decade," John Sauven, executive director of Greenpeace UK, said in a statement. "That is vital. Up to this point, many companies, from fossil fuel majors to the aviation industry have focused on offsetting--which all too often is not even damage limitation."
\u201cBreaking: Big announcement from BP this morning.\n\nBy 2030:\nOil and gas production cut by 40% \ud83d\udcc9\nRenewable energy production increased x20 \ud83d\udcc8\nLow carbon investment increased x10 \ud83d\udcc8\n\nThere is much, much further to go, but has BP just woken up to the #ClimateEmergency?\u201d— Greenpeace UK (@Greenpeace UK) 1596538957
BP, the company responsible for the Deepwater Horizon disaster that spewed an estmated 4 million barrels of oil into the Gulf of Mexico in 2010--also said it will increase renewable energy production and lower carbon emissions over the same period, but the reductions, as Sauven and others point out, don't include all of BP's fossil fuel-related economic interests.
"BP must go further," Sauven said, also noting that BP competitor Shell has yet to make similar commitments. "[BP] needs to account for or ditch its share in Russian oil company, Rosneft. But this is a necessary and encouraging start."
BP attempted to rebrand itself as an eco-friendly company in 2000, adopting a fresh logo and the tagline "Beyond Petroleum," but the 2010 spill, the largest in the history of marine oil drilling, put the company in the public eye for negligent practices.
Still, climate activists say this latest effort, even if motivated by monetary loss for BP rather than concern for the environment, is a win.
\u201cThis feels like the most serious announcement from a =n oil major: after years of pressure from activists, BP to cut oil and gas production 40% by 2030. Far from perfect, but far from normal\nhttps://t.co/r4JSFqbqCM\u201d— Bill McKibben (@Bill McKibben) 1596563583
"Today's announcement is an important signal to the rest of the industry that the only credible way to cut pollution is to cut fossil fuel production," said Kelly Trout, senior research analyst at Oil Change International.
"Vague promises of ambition by 2050 are meaningless," added Trout, "without clear details on the actions oil majors will take to manage a rapid decline in extraction within this decade, the critical time frame for staying within 1.5 degrees of warming."
Amid declining fossil fuel consumption worldwide during the Covid-19 pandemic, oil giant BP on Tuesday said it would reduce its oil and gas production by 40 percent by 2030. Climate campaigners said the announcement--on top of a $16.8 quarterly loss--should be a warning to other giants in the industry about the economic writing on the wall when it comes to the future of fossil fuels.
Environmental groups that have long targeted BP as one of the world's premier climate villains said the new commitment to reduce production at a much faster rate than any other comparable-sized company comes at a crucial time and should not be ignored.
"The good news is that BP will actually produce less oil and gas, and they're making that change this decade," John Sauven, executive director of Greenpeace UK, said in a statement. "That is vital. Up to this point, many companies, from fossil fuel majors to the aviation industry have focused on offsetting--which all too often is not even damage limitation."
\u201cBreaking: Big announcement from BP this morning.\n\nBy 2030:\nOil and gas production cut by 40% \ud83d\udcc9\nRenewable energy production increased x20 \ud83d\udcc8\nLow carbon investment increased x10 \ud83d\udcc8\n\nThere is much, much further to go, but has BP just woken up to the #ClimateEmergency?\u201d— Greenpeace UK (@Greenpeace UK) 1596538957
BP, the company responsible for the Deepwater Horizon disaster that spewed an estmated 4 million barrels of oil into the Gulf of Mexico in 2010--also said it will increase renewable energy production and lower carbon emissions over the same period, but the reductions, as Sauven and others point out, don't include all of BP's fossil fuel-related economic interests.
"BP must go further," Sauven said, also noting that BP competitor Shell has yet to make similar commitments. "[BP] needs to account for or ditch its share in Russian oil company, Rosneft. But this is a necessary and encouraging start."
BP attempted to rebrand itself as an eco-friendly company in 2000, adopting a fresh logo and the tagline "Beyond Petroleum," but the 2010 spill, the largest in the history of marine oil drilling, put the company in the public eye for negligent practices.
Still, climate activists say this latest effort, even if motivated by monetary loss for BP rather than concern for the environment, is a win.
\u201cThis feels like the most serious announcement from a =n oil major: after years of pressure from activists, BP to cut oil and gas production 40% by 2030. Far from perfect, but far from normal\nhttps://t.co/r4JSFqbqCM\u201d— Bill McKibben (@Bill McKibben) 1596563583
"Today's announcement is an important signal to the rest of the industry that the only credible way to cut pollution is to cut fossil fuel production," said Kelly Trout, senior research analyst at Oil Change International.
"Vague promises of ambition by 2050 are meaningless," added Trout, "without clear details on the actions oil majors will take to manage a rapid decline in extraction within this decade, the critical time frame for staying within 1.5 degrees of warming."
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.