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    BP.   GB0007980591


Real-time Estimate Cboe Europe  -  04:36:12 2023-05-30 am EDT
472.88 GBX   -0.84%
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BP plc : BP to Implement Carbon Offset Program for Fedex« Envelope

04/10/2012 | 11:22am EDT

BP today announced a deal with FedEx to offset the carbon emissions of over 200 million FedEx Envelopes shipped worldwide yearly.

Through the carbon-neutral FedEx Envelope shipping program, FedEx will calculate the carbon dioxide released through FedEx Envelope shipments on an annual basis and purchase the equivalent amount of carbon offsets from BP's not-for-profit, BP Target Neutral scheme. This will neutralize the equivalent amount of CO2 emissions by supporting investments in low carbon development projects that reduce or remove carbon from being released into the atmosphere.

These projects also create additional environmental, social and economic benefits locally. They include a biogas farm facility in the Netherlands, a reforestation project in the Tanzanian Southern Highlands that is converting degraded grassland to commercial forest and a landfill gas collection system at Thailand's first sanitary landfill.

The agreement between BP Target Neutral and FedEx makes FedEx Express® the first global express transportation company to offer carbon neutral envelope shipping at no extra charge to the customer.

"Through EarthSmart, FedEx continues to lead in sustainable shipping. To offset our FedEx Envelopes, we chose BP Target Neutral based on how thoroughly they vet and research their projects, the added oversight of the independent assurance panel that monitors Target Neutral and the affordable rate structure," says Mitch Jackson, VP Environmental Affairs and Sustainability, FedEx Corporation.

"This is a milestone agreement between BP Target Neutral and FedEX," said Andrea Abrahams, BP's Global Director for BP Target Neutral. "It is one of many examples in which businesses throughout the world can play their part in reducing impact of carbon emissions on the planet."

BP is the Official Oil and Gas Partner for the London 2012 Olympics and Paralymics and BP Target Neutral is the first ever Official Carbon Offset Partner of a summer Games.

The carbon neutral program extends to all FedEx Envelope shipping options, including FedEx First Overnight®, FedEx Priority Overnight®, FedEx Standard Overnight®, FedEx 2Day®, FedEx Economy 2Day® A.M. and FedEx Express Saver®. More than 200 million FedEx Envelopes are shipped around the world every year.

About BP Target Neutral

BP Target Neutral was set up in 2006 as part of BP's broader commitment to helping practical sustainability. It is a not-for-profit carbon management program, which encourages consumers to reduce, replace and neutralise their carbon emissions from transport. BP covers BP Target Neutral's operating costs. When people use BP Target Neutral to offset their carbon, all the money paid to offset is used to support genuine carbon offset projects that also have positive local environmental and socio-economic benefits.

BP Target Neutral is a founding member of ICROA, the International Carbon Reduction and Offsetting Alliance which has recently merged with IETA, the International Emissions Trading Association. BP Target Neutral is audited against the ICROA Code of Best Practice annually and is currently the only not-for-profit member.

BP Target Neutral's work is governed by an Independent Advisory and Assurance Panel of prominent environmental and industry experts. The Panel ensures that all policies and activities conform to best practice in carbon management, and where possible will set new standards for that best practice: members of BP Target Neutral can be confident they are making a real contribution to a sustainable future.

About the London 2012 offset

In supporting the ambition for London 2012 to be the most sustainable Games possible, BP Target Neutral is inviting London 2012 ticketholders, from across the world, to set a new world record for the largest number of individuals to offset their travel carbon to a single event.

In so doing, BP's not-for-profit BP Target Neutral carbon management scheme is seeking to create awareness of the environmental impact of all journeys and will invite ticketholders to sign up to have their travel carbon footprint offset at no cost to themselves.

Spectators heading to the Games from across the world will be asked to confirm where they are travelling from and their CO2 emissions will then be calculated to be offset by BP at no cost to the individual. This aims to raise awareness of carbon emissions relating to travel choices and the ways to reduce and offset them among a wide and varied audience.

As the London 2012 official Carbon Offset Partner, BP Target Neutral will be providing the administration and funds to offset the carbon emissions from Games-related travel of ticketholders. The more people that sign up, the more BP Target Neutral can support low carbon development projects worldwide.

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Financials (USD)
Sales 2023 218 B - -
Net income 2023 19 832 M - -
Net Debt 2023 22 497 M - -
P/E ratio 2023 5,28x
Yield 2023 4,56%
Capitalization 103 B 103 B -
EV / Sales 2023 0,57x
EV / Sales 2024 0,55x
Nbr of Employees 67 600
Free-Float 94,6%
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Managers and Directors
Bernard Looney Chief Executive Officer & Director
Murray Auchincloss Chief Financial Officer & Director
Helge Lund Chairman
Gordon Young Birrell Executive Vice President-Production & Operations
Paula Rosput Reynolds Senior Independent Director
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BP PLC0.42%102 829
PHILLIPS 66-8.81%43 551
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