In their most recent Financial Statements publication, BP stated that their transformation to an Integrated Energy Company is on track and that they plan to accelerate their Net Zero ambition. BP is now aiming to be Net Zero across its operations, production and sales by 2050 or sooner.

Included in their update were the following points:

• BP expects investment in transition growth businesses to be over 40% of capex by 2025. 
• BP aiming to generate $9-10 bn EBITDA from transition growth businesses by 2030. 
• BP now aiming to be net-zero across operations, production and sales by 2050 or sooner.