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BP should give substance and meaning to "Beyond Petroleum"

Yesterday Tony Hayward announced that he is stepping down and Bob Dudley will be the new CEO from October. It's a perfect moment to reinvent BP and invest in renewables and "Beyond Petroleum", the initiative started by Lord Browne.

Bob Dudley has some background experience in solar and wind, so the appointment could be promising.  

latest news
DECC lays out six possible futures for low-carbon energy

BusinessGreen, 28 Jul 2010

2050 Pathways Analysis illustrates energy supply and demand trade-offs required over next 40 years.

Efficiency key to 80% carbon reduction

Inside Housing, 28 Jul 2010

The coalition government has promised to improve the energy efficiency of homes as part of plans to reduce emissions by 80 per cent by 2050.
U.K. Carbon Calculator Shows 80% Emissions Reduction Is Achievable By 2050

Bloomberg, 28 Jul 2010

The U.K. Department of Energy and Climate Change announced a “carbon calculator” that shows the country’s goal of reducing greenhouse gas emissions by 80 percent in the six decades through 2050 is achievable.
CFTC Approves Green Exchange Application For Designation As A Contract Market

MondoVisione, 26 Jul 2010

Green Exchange LLC (Green Exchange) announced today that its application for designation as a contract market (DCM) has been approved by the US Commodity Futures Trading Commission (CFTC). The Green Exchange filed its DCM application on April 26, 2010.
Ethical business

We strongly believe in ethical business, with respect and preservation of humans, animals and the environment.

There are plenty of businesses that show it is possible to achieve success on a foundation of fair labour conditions and environmental credentials. Companies that operate with a high carbon footprint (and ecological footprint) undermine the effort to achieve sustainability in our relationship with the environment.

Businesses should be proactive in reversing climate change. The economic potential of corporations to fund carbon capture via reforestation programmes is so much greater than that of individuals that the key to success is in their playing a leading role.

The general principles of capitalism can accommodate our urgent need to address climate change. It is in the interest of a company’s shareholders to reverse climate change. It is no good to receive dividends if we have no planet to live on. Ethical business and offsetting on a large scale is good for businesses, it is an investment in creating a sustainable future.

We do not believe in a carbon tax. It has no environmental benefits unless it is used exclusively to fund carbon capture. It is more pragmatic to incentivise companies to become zero footprint, or even to super-offset their emissions, in order to participate in reversing climate change. Ultimately a sustainable future will be one where all business is ethical and zero footprint.

Governments can play an active role in bringing about these changes by redefining what is expected from business.