| · Environmental Responsibility | · Sustainability |
| · Child Labor | · Human Rights |
Find out how companies stack up before you support them with your purchase.
| Headquarters | London, UK |
| CEO | Tony Hayward |
| Total Revenue | $270.6 Billion |
| Net Income | |
| Reporting Cycle | Annual |
| Report Quality | G3 Guidelines |
| Assurance | Audited by Ernst & Young |
| Ownership Structure | Public Limited Company |
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Sector: Downstream Oil & Gas
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Latest News
British Petroleum (BP) is making progress in the reduction of its greenhouse gas emission. Between 2005 and 2006 they reduced total direct and indirect greenhouse gas emissions from 87.1 to 69.4 million metric tonnes. The Company has also launched BP Alternative Energy, a business that provides low-carbon energy solutions for power generation. In 2006, BP Alternative Energy made progress in four low-carbon technologies: solar, wind, hydrogen power and gas power.
BP has been helping communities developing land for use as business parks, wildlife sanctuaries and recreational areas. In 2005, BP spent roughly $366 million worldwide on biodiversity initiatives.
The total volume of hydrocarbon spills for 2005, was 27,675 barrels. 73% of this spill volume was recovered.
British Petroleum strives to positively impact the communities it interacts with. They focus their investments in specific areas, such as energy and the environment, basic education and education for business. The Company strives to raise environmental awareness through “A+ for Energy”, which has awarded $6.5 million in grants and scholarships to more than 5,400 teachers. BP also donated $2.4 million to remote rural communities, in an effort to improve access to energy. In Azerbaijan, they are making an effort to do business with more local companies and aim to spend an extra $250 million annually on local content in Azerbaijan.
At BP’s Toledo refinery, in 2006, there were 39 separate violations, amounting to a penalty of $2.4 million. Also in 2006, there were 7 workforce fatalities, down from 27 in the previous year. BP states that there are developing programs to assess and improve workplace safety practices.
Companies in the oil sector do not report on any GRI indicators within the Product Responsibility category.
British Petroleum (BP) has an annual certification process, which monitors adherence to the code of conduct, group standards and relevant laws and regulations, as well as policy breaches. 478 employees and contractors were dismissed for unethical behaviour or non-compliance, in 2005.
As of 2002, BP no longer makes corporate political donations; however, they still take part in lobbying regarding issues that are of interest to the Company.
No information regarding British Petroleum’s Mine Tailings or Land Reclamation is readily available at this time.