BP is expected to announce it will slash its renewable energy investments and instead focus on increasing oil and gas production. With the state of the world and the climate crisis we face today, we can not allow for organisations to go so against their green energy plans and commitments.

 

This move is so dangerous for climate, and therefore for people around the globe. We need the government to intervene and hold companies accountable for their part in our Net Zero target.

 

The reason they are doing this is because their shareholders are unhappy with profits.  According to the BBC it is much lower than rivals but is still profit. 

 

We can not allow them to put profit above the planet and people!

 

Please sign this petition to get government to hold BP and other companies to account for their role in achieving our Net Zero target.

 

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More info from BBC: 

Five years ago, BP set some of the most ambitious targets among large oil companies to cut production of oil and gas by 40% by 2030, while significantly ramping up investment in renewables.

In 2023, the company lowered this oil and gas reduction target to 25%.

It is now expected to abandon it altogether while confirming it is cutting investments in renewable energy by more than half in what chief executive Murray Auchincloss called a "fundamental reset".

BP is being pressured by Elliot Management - an influential investment group who has pushed for them to move away from green energy. 

According to the BBC: last week, a group of 48 investors called on the company to allow them a vote on any potential plans to move away from its previous commitments to renewables.

A spokesperson for one of the signatories, Royal London Asset Management, said: "As long-term shareholders, we recognise BP's past efforts toward energy transition but remain concerned about the company's continued investment in fossil fuel expansion."