26th Feb 2020 13:15
(Alliance News) - Energy giant BP PLC has left three US-based trade organisations after a review examining its relationships.
The three associations BP is leaving are the American Fuel & Petrochemical Manufacturers, the Western States Petroleum Association, and the Western Energy Alliance.
BP has been reviewing the climate policies of these trade association, it said. It looked at thirty such groups in North America, Europe, and Australia.
BP is quitting the AFPM and WSPA due to disagreements on carbon pricing, while it is leaving the WEA due to differences over methane regulation and the sale of assets in US states in which the WEA is active.
"Trade associations have long demonstrated how we can make progress through collaboration, particularly in areas such as safety, standards and training. This approach should also be brought to bear on the defining challenge that faces us all, supporting the rapid transition to a low carbon future. By working together, we can achieve so much more," said BP Chief Executive Bernard Looney.
"BP will pursue opportunities to work with organisations who share our ambitious and progressive approach to the energy transition. And when differences arise we will be transparent. But if our views cannot be reconciled, we will be prepared to part company."
"My hope is that in the coming years we can add climate to the long list of areas where, as an industry, we work together for a greater good," Looney continued.
As well as these three, BP found five associations which are only "partially" aligned on climate change with BP, and the oil major said it has let them know about the differences.
"This is an ongoing process - BP will actively monitor its memberships, participation and alignment with trade associations to which it belongs and will provide periodic updates, internally to the board of directors and to stakeholders as appropriate. BP plans to undertake another review in around two years' time," said BP.
The departure from these organisations comes just two weeks after BP outlined a plan to become net carbon zero by 2050 at the latest. CEO Looney only took the helm at the start of February, having previously been Upstream boss. He replaced former CEO Bob Dudley.
BP shares were 0.5% lower on Wednesday afternoon in London at 426.40 pence each.
By George Collard; [email protected]
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