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BP has scaled back its green energy plans – don’t be surprised if it happens again | Nils Pratley
The oil major’s net zero plans have made it a sector leader but have yet to win over investors while fossil fuels are booming
Grand corporate strategies are launched in weighty declarations by chief executives who fancy themselves as visionaries. That was how Bernard Looney, the then chief executive of BP, did it back in February 2020 when he said the company would get serious about cutting greenhouse gas emissions and investing in renewables. “The direction is set. We are heading to net zero. There is no turning back,” Looney told his City audience.
By contrast, the watering down of ambition tends to happen in increments. Thus, when Looney last year scrapped BP’s aim to reduce hydrocarbon output by 40% by 2030, versus 2019’s level, in favour of a 25% cut, he claimed the change was a case of “leaning in” to the same strategy, just in the new circumstance of a world that was worrying more about energy security after Russia’s invasion of Ukraine.
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Fire ants could be spreading on Australian military bases due to ‘massive surveillance failure’, experts say
Invasive Species Council demands audit of all defence sites after red imported fire ants detected at Swartz Barracks outside Queensland containment zone
Defence bases pose a “huge risk” when it comes to stopping the spread of invasive fire ants in Australia, with experts suggesting there has been “a massive surveillance failure” on the commonwealth-owned properties.
Fire ants have been detected at eight defence sites in Queensland. Seven are within the state’s 700,000-hectare fire ants containment zone which stretches from the Gold Coast to Caboolture.
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