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BP Plc (LON:BP) pledged to achieve net-zero carbon emissions from its oil and gas operations and production by 2050, as its new boss sets out his vision for the future.
London-based BP became the latest fossil fuel giant to set out an ambitious, yet rather distant, target for curbing emissions of planet-warming gases. The announcement from incoming Chief Executive Officer Bernard Looney shows BP is responding to pressure from major investors and activists.
“The world’s carbon budget is finite and running out fast; we need a rapid transition to net zero,” Looney said in a statement on Wednesday. “This will certainly be a challenge, but also a tremendous opportunity. It is clear to me, and to our
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