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BP
| Category: Brand Ratings -> Oil Companies -> BP |
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BP Revenue: $365.00 billion
Greenopia Environment Achievement:
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The Commendable: BP or Beyond Petroleum publishes one of the best sustainability reports of all the major oil companies. The report contains just about every environmental variable you would want to see and is easy to use and understand (i.e. no questionable unit choices which force the user to convert everything). BP also is relatively solid given its greenhouse gas emissions. Not only is it decreasing its emissions per unit of production, but when you normalize its emissions against revenue and/or production it comes out as one of the more efficient. BP is also above average in amount of oil spilled (normalized against production) and middle of the pack in number of oil spills (also normalized against production). Where BP is most impressive though is it portfolio of renewable. BP supports and is pursuing development of solar, wind, hydrogen, and biofuel technologies. BP has pledged spending of $8 billion dollars towards renewable over the next few years, making it one of the biggest renewable donors in the world. BP is also progressive in its stance on climate change and publicly admits its merits and is acting to improve its own internal performance. The Questionable: BP is subpar in its hazardous waste production and water usage. Water, in particular, was surprising because BP’s consumption has increased greatly over the past few years. This could be due to a shift in certain fuel types in BP’s portfolio (for example, clean diesel requires a lot of water), but still was extremely high versus other companies. Hazardous waste production was also high even after we normalized it against production and/or revenue. However, BP has been decreasing this number over time and hopefully will continue to do so in the future. Spills Happen: BP has had a few major spills in the past 5 years, the most notable being in Prudhoe Bay in March of 2006. Because of corroded pipes, over 200,000 gallons of oil were spilled into the surrounding area. The corrosion was due to alleged improper upkeep in the pipeline and BP was severely fined for its negligence. Second Opinion: In Sierra Club’s Environmentalist’s Guide to Gasoline, BP is one of the top two performers receiving high marks for its renewable portfolio and climate change stance. Like all major oil companies, BP did have some issues with spills and fines. Greenopia Verdict: BP came out on top of our oil company rankings for a reason. While we wouldn’t go so far as to call them green, BP is still the place to go if you want some of the more responsibly sourced oil in the US. |
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