Feb 12, 2020

BP boss plans to 'reinvent' oil giant for green era

New BP boss Bernard Looney has said he wants the company to sharply cut net carbon emissions by 2050 or sooner. Mr Looney said the 111-year-old company needed to "Reinvent" itself, a strategy that will include more investment in alternative energy. BP will have to fundamentally reorganise itself to help make those changes, said Mr Looney, who took over as chief executive last week. "Mr Looney said in a statement:"The world's carbon budget is finite and running out fast; we need a rapid transition to net zero. In the long term, BP's plans will involve less investment in oil and gas, and more investment in low carbon businesses.

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