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bp notably increases green investments over past half-decade

Green Economy Materials 4 March 2024 16:40 (UTC +04:00)
bp notably increases green investments over past half-decade
Lada Yevgrashina
Lada Yevgrashina
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BAKU, Azerbaijan, March 4. bp boosted the share of its global annual investment in low-carbon business and energy transition projects to 23 percent in 2023, up from three percent in 2019, Trend reports.

"Our mission remains unchanged: we are transforming from an international oil company (IOC) to an international energy business (IEC). Although we are now largely in the oil and gas sector, we have grown the share of investments in low-carbon and energy transition projects from 3 to 23 percent in five years," bp said on its social media, referring to new CEO Murray Auchincloss.

bp is a key ally of Azerbaijan, actively pursuing a green energy project, among other measures.

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