Difference between revisions of "BP Nederland"

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     | data6 = 2.03 Megatons of CO<sub>2</sub> (2020)  
     | data6 = 2.03 Megatons of CO<sub>2</sub> (2020)  
     | title =  
     | title =  
    | label7= NCI assessment
    | data7 = Very low
     | title =  
     | title =  
     | label7= Total Revenue  
     | label8= Total Revenue  
     | data7 = USD 164.2 billion (2020)<ref>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-fourth-quarter-2021-results.pdf p. 15</ref>
     | data8 = USD 164.2 billion (2020)<ref>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-fourth-quarter-2021-results.pdf p. 15</ref>
     | label8= Stock Exchange
     | label9= Stock Exchange
     | data8 = LSE (London), FWB (Frankfurt), NYSE (New York), FTSE100  
     | data9 = LSE (London), FWB (Frankfurt), NYSE (New York), FTSE100  
     | label9= Key People
     | label10= Key People
     | data9 = Karen de Lathouder (CEO)
     | data10= Karen de Lathouder (CEO)
     | label10= Number of Employees
     | label11= Number of Employees
     | data10 = 2000<ref>https://www.bp.com/nl_nl/netherlands/home/wie-wij-zijn/bp-in-nederland.html accessed 28-3-2022</ref>
     | data11 = 2000<ref>https://www.bp.com/nl_nl/netherlands/home/wie-wij-zijn/bp-in-nederland.html accessed 28-3-2022</ref>
     | title =
     | title =
     | label11= Subsidiaries
     | label12= Subsidiaries
     | data11 = {{plainlist|
     | data12 = {{plainlist|
*none
*none
}}
}}
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  |below      =  
  |below      =  
}}
}}
'''BP Europa SE - BP Nederland''', stylized as '''BP Nederland''', is the Dutch branch of BP and is active since 1996. Its main activities are the refining of oil and marketing of petrol and it is headquartered in Europoort-Rotterdam. Its largest operation is the refinery in Rotterdam, Refinery Rotterdam (bpRR), where the company processes about 400,000 barrels of oil a day into LPG, petrol, diesel, kerosine and various other endproducts.<ref>https://www.bp.com/nl_nl/netherlands/home/wie-wij-zijn/bp-in-nederland.html accessed 29-3-2022</ref> Spanning about 390 acres it is one of the largest refineries in Europe. BP Nederland also operates about 350 gas stations in the Netherlands and provides aviation fuel to various sectors in the aviation sector under Air BP. BP Nederland has customers in aviation, agriculture, large industries and various other sectors and employs about 2000 people.  
'''bp Europa SE - bp Nederland''', stylized as '''bp Nederland''', is a subsidiary of the UK-based bp PLC Dutch and part of bp Europe SE, headquarted in Hamburg. bp Nederland is active since 1996 and it is headquartered in Europoort-Rotterdam. Its largest operation is the refinery in Rotterdam, Refinery Rotterdam (bpRR), where the company processes about 400,000 barrels of oil a day into LPG, petrol, diesel, kerosine and various other endproducts.<ref>https://www.bp.com/nl_nl/netherlands/home/wie-wij-zijn/bp-in-nederland.html accessed 29-3-2022</ref> Spanning about 390 acres it is one of the largest refineries in Europe. BP Nederland also operates about 350 gas stations in the Netherlands and provides aviation fuel to various sectors in the aviation sector under Air BP. BP Nederland has customers in aviation, agriculture, large industries and various other sectors and employs about 2000 people.  


'''BP plc''', stylized as '''BP''', is a British oil and gas company. It is headquartered in London, England and is one of the seventh largest oil and gas 'supermajors'. It operates in about 65 countries and employs about 65,900 people worldwide.<ref>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 2</ref> Over 2020 it reported a revenue of USD 164.2 billion<ref name="bp_annual_report_2020_p173" /> and produced around 2 billion barrels of oil a day.<ref>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 2 and 15</ref> The main activities of BPs operations include the exploration and extraction of gas and oil, refining, power generation and selling or exporting products such as petrol, kerosine, gas and diesel. The CEO of BP is Helge Lund and its CFO Bernard Looney.
'''bp PLC''', stylized as '''bp''', is a British oil and gas company. It is headquartered in London, England and is one of the seventh largest oil and gas 'supermajors'. It operates in about 65 countries and employs about 65,900 people worldwide.<ref>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 2</ref> Over 2020 it reported a revenue of USD 164.2 billion<ref name="bp_annual_report_2020_p173" /> and produced around 2 billion barrels of oil a day.<ref>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 2 and 15</ref> The main activities of BPs operations include the exploration and extraction of gas and oil, refining, power generation and selling or exporting products such as petrol, kerosine, gas and diesel. The CEO of BP is Helge Lund and its CFO Bernard Looney.


== Company Structure ==
== Company Structure ==
BP plc is governed by a board of directors and a leadership team. The board of directors is in charge of broader policies and strategies and takes responsability for the large scale performances of the company. The leadership team is responsible for the day to day activities and represents the various operational segments of the company. The management structure of BP Nederland is not completely public. The CEO of BP Nederland is Karen de Lathouder. She is also the manager of the Rotterdam refinery. BP Nederland falls under BP europe, which in turn falls under BP plc.
=== BP PLC ===
 
BP PLC is governed by a board of directors and a leadership team. The board of directors is in charge of broader policies and strategies and takes responsibility for the large scale performances of the company. The leadership team is responsible for the day to day activities and represents the various operational segments of the company.
=== Board of Directors ===
{| class="wikitable"
{| class="wikitable"
|+Executive Board  
|+Board of Directors
!Name<ref>https://www.bp.com/en/global/corporate/who-we-are/board-and-executive-management/the-board.html</ref>
!Name<ref>https://www.bp.com/en/global/corporate/who-we-are/board-and-executive-management/the-board.html</ref>
!Function
!Function
Line 113: Line 114:
|}
|}


===Leadership Team===
{| class="wikitable"
{| class="wikitable"
|+Leadership Team
|+Leadership Team
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|-
|-
|}
|}
=== BP Nederland ===
The management structure of bp Nederland is not completely public. The CEO of bp Nederland is Karen de Lathouder. She is also the manager of the Rotterdam refinery. bp Nederland falls under bp Europe, which in turn falls under bp plc.


=== Accountant ===
=== Accountant ===
The independent auditor of BP is Deloitte LLP. In the report of Deloitte attached to the Annual Report 2021, the potential impact of climate change and the energy transition on bp is mentioned as a key audit matter.<ref>bp. (2022). Annual Report 2021 Retrieved from <nowiki>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf</nowiki></ref> Also in the report attached to the Annual Report 2019 and 2020, this was a key audit matter.<ref name=":2">bp. (2020). Annual Report 2019, p.132, retrieved from <nowiki>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2019.pdf</nowiki></ref> <ref>bp. (2021). Annual Report 2020. Retrieved from <nowiki>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2020.pdf</nowiki></ref> In the Annual Report of 2019, Deloitte writes that because of "''the significant increase in focus on this issue by management and by external stakeholders, and the potential impact on the financial statements as a consequence"''<ref name=":2" /> the potential impact of climate change and the energy transition was identified as a key audit matter.
The independent auditor of bp is Deloitte LLP. In the report of Deloitte attached to the Annual Report 2021, the potential impact of climate change and the energy transition on bp is mentioned as a key audit matter.<ref>bp. (2022). Annual Report 2021 Retrieved from <nowiki>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf</nowiki></ref> Also in the report attached to the Annual Report 2019 and 2020, this was a key audit matter.<ref name=":2">bp. (2020). Annual Report 2019, p.132, retrieved from <nowiki>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2019.pdf</nowiki></ref> <ref>bp. (2021). Annual Report 2020. Retrieved from <nowiki>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2020.pdf</nowiki></ref> In the Annual Report of 2019, Deloitte writes that because of "''the significant increase in focus on this issue by management and by external stakeholders, and the potential impact on the financial statements as a consequence"''<ref name=":2" /> the potential impact of climate change and the energy transition was identified as a key audit matter.  
 
BP also has an internal audit committee, chaired by Tushar Morzaria, to oversee the financial reporting of the company.


=== Main Activities ===
=== Main Activities ===
In a few sentences, describe the core activities of the company. In a bit more detail than in the introduction.
bp Nederland's main activities are the refining of oil and marketing of petrol.  


=== Government ===  
=== Government ===  
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=== Financial Results since 2015 ===
=== Financial Results since 2015 ===
This tabel is meant to indicate that the companies have plenty of money to make their company more sustainable. Clearly distinguish between Dutch data and international data.
{| class="wikitable"
{| class="wikitable"
|+Financial situation of BP plc (international)
|+Financial situation of BP plc (international)
!Year
!Year
!Revenue
!Revenue
!Profit
!Profit (loss)
!Dividend
!Dividend
|-
|-
|2015
|2015
|226 billion USD  
|226 billion USD  
| -6.40 billion USD
| (6.40) billion USD
|6.7 billion USD<ref>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2017.pdf pp.125-129</ref>
|6.7 billion USD<ref>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2017.pdf pp.125-129</ref>
|-
|-
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|2020
|2020
|109.1 billion USD <ref name="bp_annual_report_2020_p173" />
|109.1 billion USD <ref name="bp_annual_report_2020_p173" />
| -20.73 billion USD <ref name="bp_annual_report_2020_p173" />
| (20.73) billion USD <ref name="bp_annual_report_2020_p173" />
|6.34 billion USD <ref name="bp_annual_report_2020_p177" />
|6.34 billion USD <ref name="bp_annual_report_2020_p177" />
|-
|-
|2021
|2021
|164.2 billion USD <ref name="bp_annual_report_2020_p173" />
|164.2 billion USD <ref name="bp_annual_report_2020_p173" />
|8.48 billion USD <ref name="bp_annual_report_2020_p173" />
|8.49 billion USD <ref name="bp_annual_report_2020_p173" />
|4.30 billion USD <ref name="bp_annual_report_2020_p177" />
|4.30 billion USD <ref name="bp_annual_report_2020_p177" />
|}
|}
In most of the years, the dividend paid to shareholders was higher than the profit amount.  
In most of the years, the dividend paid to shareholders was higher than the profit amount.  
From 2019 onward, the company changed the way revenue was presented. For 2019, it would have been 120 billion higher, had there be no change.
From 2019 onward, the company changed the way revenue was presented. For 2019, it would have been 120 billion higher, had there be no change.
====Scandals and controversies====
Any dirt on the companies can be added here.
== Current Emissions ==
== Current Emissions ==
'''BP Nederland'''
'''BP Nederland'''


The Dutch emission authority (NEA) reports the emissions of the Rotterdam refinery, which accounts for the majority of the emissions of BP Nederland. In the table below, the emissions that they report is shown.  
The Dutch emission authority (NEA) reports the emissions of the Rotterdam refinery, which accounts for the majority of the emissions of BP Nederland. In the table below, the emissions that they report are shown. These are only emissions from scope 1.<ref name=":3">NewClimate Institute. (2022). Evaluating corporate target setting in the Netherlands. p.126. Retrieved from <nowiki>https://milieudefensie.nl/actueel/onderzoek-naar-de-klimaatplannen-van-29-grote-vervuilers</nowiki></ref>
{| class="wikitable"
{| class="wikitable"
|+
|+
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|-
|-
|2018<ref name=":0">https://www.emissieautoriteit.nl/documenten/publicatie/2021/05/05/ets-uitstoot-2020</ref>
|2018<ref name=":0">https://www.emissieautoriteit.nl/documenten/publicatie/2021/05/05/ets-uitstoot-2020</ref>
|2.25
|2.25 MtCO2e
|-
|-
|2019<ref name=":0" />
|2019<ref name=":0" />
|2.15
|2.15 MtCO2e
|-
|-
|2020<ref name=":0" />
|2020<ref name=":0" />
|2.03
|2.03 MtCO2e
|-
|-
|2021<ref>Nederlandse Emissieautoriteit. (2022). Emissiecijfers over 2021. Retrieved from https://www.emissieautoriteit.nl/documenten/publicatie/2022/04/14/emissiecijfers-2021</ref>
|2021<ref>Nederlandse Emissieautoriteit. (2022). Emissiecijfers over 2021. Retrieved from https://www.emissieautoriteit.nl/documenten/publicatie/2022/04/14/emissiecijfers-2021</ref>
|2.12  
|2.12 MtCO2e
|}
|}


'''BP plc'''


'''BP plc'''
The data in the table below are based on the data provided by bp. bp distinguishes their GHG emissions of Scope 1 and 2 in two categories: operational control and equity share.<ref>bp. (2022). Sustainability report 2021, p.22. Retrieved from https://www.bp.com/en/global/corporate/sustainability/our-aims.html</ref> Operational control data comprises the emissions from activities operated by bp, whereas equity share data covers emissions from subsidiaries and from joint arrangements and associates (the percentage of emissions equivalent to bp's share). bp's ambitions to become net zero in 2050, only focus on the operational control data. The table below however, shows the emissions from both categories.
 
It also shows scope 3 emissions which are estimated emissions. However, independent analysis suggest a much higher number of scope 3 emissions.<ref name=":3" /><ref>Liauw, S. L., Bowater, R., Lou, M. & Lafleur, D. (2022b) ‘Part 1: BP GHG Emissions’. Global Climate Insights. Retrieved from https://www.accr.org.au/research/part-1-bp-ghg-emissions/</ref> They divide scope 3 emissions in upstream and downstream sources, which bp does not. Downstream emissions mainly consist of the burning of sold fuels and NCI found that these emissions would be around 840.9 MtCO2e in 2021. 
{| class="wikitable"
{| class="wikitable"
|+Total emissions Megatonnes of CO2e
|+Total emissions Megatonnes of CO2e
Line 248: Line 247:
!Scope 1
!Scope 1
!Scope 2
!Scope 2
!Scope 3
!Scope 3*
!Total
|-
|-
|2020
|2016<ref name="bp_esg_datasheet_2020_p6">bp. (2021). ESG data sheet 2020, p.6. Retrieved from https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/sustainability/group-reports/bp-esg-datasheet-2020.pdf </ref>
|83.2 Megatonnes of CO<sub>2</sub> <ref name="bp_esg_datasheet_2020_p6">https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/sustainability/group-reports/bp-esg-datasheet-2020.pdf p. 6</ref>
|101.5 MtCO2e
|4.2 Megatonnes of CO<sub>2</sub><ref name="bp_esg_datasheet_2020_p6" />
|12.4 MtCO2e
|304 Megatonnes of CO<sub>2</sub>* <ref>https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 12</ref>
|
|
|-
|2017<ref name="bp_esg_datasheet_2020_p6" />
|99.9 MtCO2e
|12.9 MtCO2e
|
|
|-
|-
|2021
|2018<ref name="bp_esg_datasheet_2020_p6" />
|69.7 Megatonnes of CO2<ref name=":1" />
|95.3 MtCO2e
|2.6 Megatonnes of CO2<ref name=":1">bp. (2022). ESG datasheet 2021. Retrieved from https://www.bp.com/en/global/corporate/sustainability/our-aims.html</ref>
|11.1 MtCO2e
|
|
|
|-
|2019<ref name="bp_esg_datasheet_2020_p6" />
|95.2 MtCO2e
|10.9 MtCO2e
|360.6 MtCO2e
|466.7 MtCO2e
|-
|2020<ref name="bp_esg_datasheet_2020_p6" />
|83 MtCO2e
|8 MtCO2e
|327.6 MtCO2e
|418.6 MtCO2e
|-
|2021<ref name=":1">bp. (2022). ESG datasheet 2021. Retrieved from https://www.bp.com/en/global/corporate/sustainability/our-aims.html</ref>
|69.7 MtCO2e
|5 MtCO2e
|303.6 MtCO2e
|378.3 MtCO2e
|-
|-
|}
|}


(*) These are the estimated emissions of their upstream oil and gas production and exclude BP's share of Rosneft.
(*) These are the estimated emissions from the carbon of their upstream oil and gas production.<ref>bp. (2022). Sustainability report 2021, p.23. Retrieved from <nowiki>https://www.bp.com/en/global/corporate/sustainability/our-aims.html</nowiki></ref>
 
 
Scope 1 covers the greenhouse gas emissions on an operated and equity share basis.<ref>bp. (2022). Sustainability report 2021. Retrieved from https://www.bp.com/en/global/corporate/sustainability/our-aims.html</ref> Operational control boundary covers bp-operated assets, whereas  bp equity share covers 100% of emissions  fromsubsidiaries and the percentage  of emissions equivalent to bp's share of joint arrangements and associates.
 
== Climate Policy and Plans ==
== Climate Policy and Plans ==
Description of the climate plans and policy of the company, with special focus on the goals for 2030 and 2050. Make sure to include the baseyear for their targets. Do the goals take the entire company and all scopes into account?  
Description of the climate plans and policy of the company, with special focus on the goals for 2030 and 2050. Make sure to include the baseyear for their targets. Do the goals take the entire company and all scopes into account?  
Line 277: Line 299:
Worldwide, and also in the Netherlands, BP is <q>accelerating our electric vehicle (EV) charging ambition (...)</q>.<ref name="bp_annual_report_2021_p23">https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 23</ref><br />
Worldwide, and also in the Netherlands, BP is <q>accelerating our electric vehicle (EV) charging ambition (...)</q>.<ref name="bp_annual_report_2021_p23">https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 23</ref><br />
At BP's Rotterdam refinery BP builds (with HyCC and the Port of Rotterdam) a green hydrogen plant (powered by offshore wind power, scheduled completion in 2025) to replace the current grey hydrogen at the Port of Rotterdam refinery.<ref name="bp_annual_report_2021_p23" />
At BP's Rotterdam refinery BP builds (with HyCC and the Port of Rotterdam) a green hydrogen plant (powered by offshore wind power, scheduled completion in 2025) to replace the current grey hydrogen at the Port of Rotterdam refinery.<ref name="bp_annual_report_2021_p23" />
=== NewClimate Institute (NCI) Report ===
NCI rates the climate plans of bp Nederland low on transparency and very low on integrity.<ref name=":3" /> bp Nederland is included in bp PLC's pledge to have net-zero emissions by 2050 or sooner.
bp PLC set three interlinked net-zero targets for 2050: (1) Net-zero operations, which covers scope 1 and 2; (2) net-zero production, which covers upstream scope 3; and (3) net-zero sales of marketed energy products, which covers production, distribution, and end use emissions. 
The third target is an intensity target, which means that bp PLC can show progress towards  this target by expanding its low-carbon business activities, while continuing its fossil fuel activities. bp PLC indeed does not list a reduction in fossil fuel production as a measure to reduce the carbon intensity of marketed energy products by 2030, but focuses on growing bioenergy, renewable and hydrogen sales. 
== Due Diligence ==


=== Due Diligence ===  
=== Due Diligence ===  
Keep the broader context in mind. Is the company integer when it comes to deforestation, palm oil, biodiversity, human rights etc etc? Be critical in the sources used here.
Keep the broader context in mind. Is the company integer when it comes to deforestation, palm oil, biodiversity, human rights etc etc? Be critical in the sources used here.
===Scandals and controversies===
Any dirt on the companies can be added here.


== Conclusion ==
== Conclusion ==

Latest revision as of 11:34, 7 September 2022

BP Europe SE - BP Nederland
Bedrijf Logo
Quick Facts
TypePublic
sectorOil and gas
Headquarters (Benelux Organization)Europoort Rotterdam, Netherlands
Year of Origin1996
Emissions (All Scopes)2.03 Megatons of CO2 (2020)
NCI assessmentVery low
Total RevenueUSD 164.2 billion (2020)[1]
Stock ExchangeLSE (London), FWB (Frankfurt), NYSE (New York), FTSE100
Key PeopleKaren de Lathouder (CEO)
Number of Employees2000[2]
Subsidiaries
  • none

bp Europa SE - bp Nederland, stylized as bp Nederland, is a subsidiary of the UK-based bp PLC Dutch and part of bp Europe SE, headquarted in Hamburg. bp Nederland is active since 1996 and it is headquartered in Europoort-Rotterdam. Its largest operation is the refinery in Rotterdam, Refinery Rotterdam (bpRR), where the company processes about 400,000 barrels of oil a day into LPG, petrol, diesel, kerosine and various other endproducts.[3] Spanning about 390 acres it is one of the largest refineries in Europe. BP Nederland also operates about 350 gas stations in the Netherlands and provides aviation fuel to various sectors in the aviation sector under Air BP. BP Nederland has customers in aviation, agriculture, large industries and various other sectors and employs about 2000 people.

bp PLC, stylized as bp, is a British oil and gas company. It is headquartered in London, England and is one of the seventh largest oil and gas 'supermajors'. It operates in about 65 countries and employs about 65,900 people worldwide.[4] Over 2020 it reported a revenue of USD 164.2 billion[5] and produced around 2 billion barrels of oil a day.[6] The main activities of BPs operations include the exploration and extraction of gas and oil, refining, power generation and selling or exporting products such as petrol, kerosine, gas and diesel. The CEO of BP is Helge Lund and its CFO Bernard Looney.

Company Structure

BP PLC

BP PLC is governed by a board of directors and a leadership team. The board of directors is in charge of broader policies and strategies and takes responsibility for the large scale performances of the company. The leadership team is responsible for the day to day activities and represents the various operational segments of the company.

Board of Directors
Name[7] Function Remuneration x1000 £[8]
Helge Lund Chair 804
Bernard Looney CEO 4,457
Murray Auchincloss CFO 2,438
Pamela Daley Independent non-executive director 191
Melody Meyer Independent non-executive director 174
Tushar Morzaria Independent non-executive director 136
Paula Rosput Reynolds Senior independent director 194
Karen Richardson Independent non-executive director 135
Sir John Sawers Independent non-executive director 148
Johannes Teyssen Independent non-executive director 128
Leadership Team
Name Function
Bernard Looney CEO
Murray Auchincloss CFO
Gordon Birrell Production & operations
Giulia Chierchia Strategy, sustainability & ventures
Emma Delaney Customers & products
Anja-Isabel Dotzenrath Gas & low-carbon energy
Kerry Dryburgh People & culture
Carol Howle Trading & shipping
William Lin Regions, cities & solutions
Leigh-Ann Russel Innovation & engineering
Eric Nitcher Legal

BP Nederland

The management structure of bp Nederland is not completely public. The CEO of bp Nederland is Karen de Lathouder. She is also the manager of the Rotterdam refinery. bp Nederland falls under bp Europe, which in turn falls under bp plc.

Accountant

The independent auditor of bp is Deloitte LLP. In the report of Deloitte attached to the Annual Report 2021, the potential impact of climate change and the energy transition on bp is mentioned as a key audit matter.[9] Also in the report attached to the Annual Report 2019 and 2020, this was a key audit matter.[10] [11] In the Annual Report of 2019, Deloitte writes that because of "the significant increase in focus on this issue by management and by external stakeholders, and the potential impact on the financial statements as a consequence"[10] the potential impact of climate change and the energy transition was identified as a key audit matter.

Main Activities

bp Nederland's main activities are the refining of oil and marketing of petrol.

Government

To what extent can the government influence company policy? (shareholder, licensing authority, client etc.) Has company received NOW support or royal status?

Paris Agreement until Today

What has company done or refused to do since the Climate Accord of Paris? Per company, where applicable refer to research on the benefits of fossil companies in the form of subisidies etc.

Financial Results since 2015

Financial situation of BP plc (international)
Year Revenue Profit (loss) Dividend
2015 226 billion USD (6.40) billion USD 6.7 billion USD[12]
2016 186.6 billion USD 0.17 billion USD 4.6 billion USD[13]
2017 244.6 billion USD 3.47 billion USD 6.2 billion USD[14]
2018 303.7 billion USD 9.58 billion USD 6.7 billion USD [15]
2019 163.5 billion USD [5] 4.19 billion USD [5] 6.95 billion USD [16]
2020 109.1 billion USD [5] (20.73) billion USD [5] 6.34 billion USD [16]
2021 164.2 billion USD [5] 8.49 billion USD [5] 4.30 billion USD [16]

In most of the years, the dividend paid to shareholders was higher than the profit amount. From 2019 onward, the company changed the way revenue was presented. For 2019, it would have been 120 billion higher, had there be no change.

Current Emissions

BP Nederland

The Dutch emission authority (NEA) reports the emissions of the Rotterdam refinery, which accounts for the majority of the emissions of BP Nederland. In the table below, the emissions that they report are shown. These are only emissions from scope 1.[17]

Total emissions Megatonnes of CO2
2018[18] 2.25 MtCO2e
2019[18] 2.15 MtCO2e
2020[18] 2.03 MtCO2e
2021[19] 2.12 MtCO2e

BP plc

The data in the table below are based on the data provided by bp. bp distinguishes their GHG emissions of Scope 1 and 2 in two categories: operational control and equity share.[20] Operational control data comprises the emissions from activities operated by bp, whereas equity share data covers emissions from subsidiaries and from joint arrangements and associates (the percentage of emissions equivalent to bp's share). bp's ambitions to become net zero in 2050, only focus on the operational control data. The table below however, shows the emissions from both categories.

It also shows scope 3 emissions which are estimated emissions. However, independent analysis suggest a much higher number of scope 3 emissions.[17][21] They divide scope 3 emissions in upstream and downstream sources, which bp does not. Downstream emissions mainly consist of the burning of sold fuels and NCI found that these emissions would be around 840.9 MtCO2e in 2021.

Total emissions Megatonnes of CO2e
Scope 1 Scope 2 Scope 3* Total
2016[22] 101.5 MtCO2e 12.4 MtCO2e
2017[22] 99.9 MtCO2e 12.9 MtCO2e
2018[22] 95.3 MtCO2e 11.1 MtCO2e
2019[22] 95.2 MtCO2e 10.9 MtCO2e 360.6 MtCO2e 466.7 MtCO2e
2020[22] 83 MtCO2e 8 MtCO2e 327.6 MtCO2e 418.6 MtCO2e
2021[23] 69.7 MtCO2e 5 MtCO2e 303.6 MtCO2e 378.3 MtCO2e

(*) These are the estimated emissions from the carbon of their upstream oil and gas production.[24]

Climate Policy and Plans

Description of the climate plans and policy of the company, with special focus on the goals for 2030 and 2050. Make sure to include the baseyear for their targets. Do the goals take the entire company and all scopes into account?

BP plc

In February 2022, BP plc announced improved sustainability aims.[25]
Part of the aims for BP plc is aiming for net zero by 2050 or sooner for Scopes 1, 2 and 3.[26] According to bp's sustainability paragraph[25] bp has a 2025 target and a 2030 aim for reduction (against 2019 baseline) for operations, production and sales, resulting in net zero in 2050. Not clear from the glossary[27] is how the reduction is to be achieved. BP states that net zero means achieving a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases (...).[27] It is questionable if natural or artifical carbon sinks can compensate for anthropogenic emissions.[28]

BP Nederland

Worldwide, and also in the Netherlands, BP is accelerating our electric vehicle (EV) charging ambition (...).[29]
At BP's Rotterdam refinery BP builds (with HyCC and the Port of Rotterdam) a green hydrogen plant (powered by offshore wind power, scheduled completion in 2025) to replace the current grey hydrogen at the Port of Rotterdam refinery.[29]

NewClimate Institute (NCI) Report

NCI rates the climate plans of bp Nederland low on transparency and very low on integrity.[17] bp Nederland is included in bp PLC's pledge to have net-zero emissions by 2050 or sooner.

bp PLC set three interlinked net-zero targets for 2050: (1) Net-zero operations, which covers scope 1 and 2; (2) net-zero production, which covers upstream scope 3; and (3) net-zero sales of marketed energy products, which covers production, distribution, and end use emissions.

The third target is an intensity target, which means that bp PLC can show progress towards this target by expanding its low-carbon business activities, while continuing its fossil fuel activities. bp PLC indeed does not list a reduction in fossil fuel production as a measure to reduce the carbon intensity of marketed energy products by 2030, but focuses on growing bioenergy, renewable and hydrogen sales.

Due Diligence

Due Diligence

Keep the broader context in mind. Is the company integer when it comes to deforestation, palm oil, biodiversity, human rights etc etc? Be critical in the sources used here.

Scandals and controversies

Any dirt on the companies can be added here.

Conclusion

Recap of the position and influence of the company. Are the climate plans of the company enough to be in line with goals of the Paris Agreement? Is the company doing enough? Are the companies targets realistic?

References

  1. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-fourth-quarter-2021-results.pdf p. 15
  2. ↑ https://www.bp.com/nl_nl/netherlands/home/wie-wij-zijn/bp-in-nederland.html accessed 28-3-2022
  3. ↑ https://www.bp.com/nl_nl/netherlands/home/wie-wij-zijn/bp-in-nederland.html accessed 29-3-2022
  4. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 2
  5. ↑ 5.0 5.1 5.2 5.3 5.4 5.5 5.6 https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p.173
  6. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 2 and 15
  7. ↑ https://www.bp.com/en/global/corporate/who-we-are/board-and-executive-management/the-board.html
  8. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 122 and 132
  9. ↑ bp. (2022). Annual Report 2021 Retrieved from https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf
  10. ↑ 10.0 10.1 bp. (2020). Annual Report 2019, p.132, retrieved from https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2019.pdf
  11. ↑ bp. (2021). Annual Report 2020. Retrieved from https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2020.pdf
  12. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2017.pdf pp.125-129
  13. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2017.pdf pp.125-129
  14. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2017.pdf pp.125-129
  15. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2018.pdf p. 133
  16. ↑ 16.0 16.1 16.2 https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p.177
  17. ↑ 17.0 17.1 17.2 NewClimate Institute. (2022). Evaluating corporate target setting in the Netherlands. p.126. Retrieved from https://milieudefensie.nl/actueel/onderzoek-naar-de-klimaatplannen-van-29-grote-vervuilers
  18. ↑ 18.0 18.1 18.2 https://www.emissieautoriteit.nl/documenten/publicatie/2021/05/05/ets-uitstoot-2020
  19. ↑ Nederlandse Emissieautoriteit. (2022). Emissiecijfers over 2021. Retrieved from https://www.emissieautoriteit.nl/documenten/publicatie/2022/04/14/emissiecijfers-2021
  20. ↑ bp. (2022). Sustainability report 2021, p.22. Retrieved from https://www.bp.com/en/global/corporate/sustainability/our-aims.html
  21. ↑ Liauw, S. L., Bowater, R., Lou, M. & Lafleur, D. (2022b) ‘Part 1: BP GHG Emissions’. Global Climate Insights. Retrieved from https://www.accr.org.au/research/part-1-bp-ghg-emissions/
  22. ↑ 22.0 22.1 22.2 22.3 22.4 bp. (2021). ESG data sheet 2020, p.6. Retrieved from https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/sustainability/group-reports/bp-esg-datasheet-2020.pdf
  23. ↑ bp. (2022). ESG datasheet 2021. Retrieved from https://www.bp.com/en/global/corporate/sustainability/our-aims.html
  24. ↑ bp. (2022). Sustainability report 2021, p.23. Retrieved from https://www.bp.com/en/global/corporate/sustainability/our-aims.html
  25. ↑ 25.0 25.1 https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 51
  26. ↑ https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 21
  27. ↑ 27.0 27.1 https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 378
  28. ↑ https://www.europarl.europa.eu/news/en/headlines/society/20190926STO62270/what-is-carbon-neutrality-and-how-can-it-be-achieved-by-2050 accessed 1-4-2022
  29. ↑ 29.0 29.1 https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annual-report-and-form-20f-2021.pdf p. 23
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