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The ‘huge’ role for hydrogen in bp’s future business
© bp
The ‘huge’ role for hydrogen in bp’s future business
© bp

The ‘huge’ role for hydrogen in bp’s future business

He’d only been in the job for two weeks when in February 2020 CEO Bernard Looney set out bp’s biggest revamp in the British business’ 113-year history: to become a net zero company by 2050 or sooner, and to help the world get to net zero.

“We have been listening to investors, partners, policymakers, NGOs, academics, the media – and, of course, my colleagues at bp. And everywhere I have been – inside bp as well as outside – I have come away with one inescapable conclusion. We have got to change. I do not say that lightly, because I love this company,” Looney said at the ambition launch event in February 2020.

“But we have got to change – and change profoundly. We have to because the world is changing fast, and so are society’s expectations of us. But it is more than having to change – we want to change. We want to change because it is the right thing for the world, and it is a tremendous business opportunity for bp.”

Looney outlined bp would do this by reimagining energy and reinventing bp, and announced five aims to get the firm to net zero:

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