Represents culmination of nearly 20-year engagement by CBIS and coalition partners
February 24, 2020
The oil giant’s announced goals include: Net zero carbon emissions across operations by 2050. A 50% cut in the carbon intensity of the products BP sells by 2050. A reduction in methane emission and monitoring by 50% at all major oil and gas processing sites by 2023.
“CBIS welcomes BP’s commitment to be net zero by 2050,” said Julie Tanner, CBIS Managing Director of Catholic Responsible InvestmentsSM. “But our work is far from over — we will continue to engage BP and all companies to take urgent action in this decade by making dramatic cuts in emissions, increasing investments in renewables, exiting from carbon intensive business lines and developing solutions in line with the challenges we face.”
CBIS will publish a case study with further detail of this engagement in the coming week.
The securities identified and described do not represent all of the securities purchased, sold or recommended for CUIT Funds, CBIS Global Funds and separate managed accounts. The reader should not assume that an investment in the securities identified was or will be profitable.