Putting sustainability at the heart of what we do

EVP of strategy and sustainability Giulia Chierchia on the listening and the learning that has led bp to launch its new sustainability frame. “Talking about what we are doing in this space can open the door to dialogue, connections and future collaborations”

I am in the fortunate position of working in a field that I am truly excited by and it is a privilege to have the opportunity to share what is very meaningful to me. That’s why I am so pleased to be introducing our new sustainability frame today. It’s the result of listening and learning and I want to say a huge thanks to everyone who has helped us.

We believe now is the time for us to bring a more holistic, strategic and focused approach to our long-standing efforts on sustainability. Why now?  We know that, globally, access to energy is associated with improvements in education, health and economic growth. But we recognize that the world is on an unsustainable path.

Each year, human demand for ecological resources is exceeding what the Earth can regenerate. The biodiversity of our planet is under threat. And we still face significant challenges as a society – whether it’s global access to modern electricity, equality and diversity, or mental and physical health. We are listening to the call for action from society, governments and shareholders.

So, there is a need for organizations like ours to think about sustainability holistically, encompassing climate and environmental concerns, as well as a broader set of issues that impact society. And the need to set and deliver against objectives and aims where we believe we can make the most difference – and with transparency on progress. 

Our new sustainability framework helps us do that. It links our strategy to our purpose – reimagining energy for people and our planet – and includes our net zero ambition and aims, as well as our wider approach to environmental and social issues. 

Our approach

For bp, that approach is founded on four building blocks, which together shape our new sustainability frame – putting sustainability at the heart of what we do:

First, three clear focus areas:

• Get to net zero.
• Improve people’s lives.
• Care for our planet. 

Each of which includes prioritized themes linked to the UN Sustainable Development Goals. 

Second, clear aims and objectives. As with our net zero ambition, we will set aims and objectives for the other two focus areas and be transparent about our progress against them.

Third, sustainability embedded into our DNA. Actively driving it through our operating model, our governance and our culture.

Finally, external collaborations. Intensifying the search for partnerships that can help us to drive progress, provide skills we may not have, and help us to shape the future together. 

As an example, I am delighted to confirm we have now established a new collaboration agreement with Fauna & Flora International, to aid the delivery of our new biodiversity position. We will also be jointly exploring new opportunities where bp can support nature conservation. 

We know we do not have all the answers

In designing this approach, we have already engaged with a wide range of stakeholders – I am extremely grateful to them. And we plan to continue to engage as we develop the details of the frame.

I am confident that this kind of teamwork will be key to our sustainability frame, drive progress with our strategy and allow us to play our part in helping to shape the future together. 

I love to talk about what we are doing in this space because it can open the door to dialogue, connections and even future collaborations.

And, I look forward to sharing more on our sustainability frame at the end of Q1 2021, when we plan to publish our annual Sustainability Report but – in the meantime – I will be talking, listening and learning.