BP’s new boss Bernard Looney said on February 12 that he wants the oil giant to pivot away from petroleum. By doing so the 111-year-old company could get to net zero carbon emissions by 2050, predicted Looney.
The company needs to “reinvent” itself, he said in a speech, a week after taking over as chief executive.
“The world’s carbon budget is finite and running out fast; we need a rapid transition to net zero,” said Looney.
“Trillions of dollars will need to be invested in re-plumbing and rewiring the world’s energy system.”