Group chief executive’s review
How we operate
BP in ﬁgures
Operating at the energy frontiers
How a revitalized BP is driving innovative, efﬁcient and responsible operations
Meeting the energy demands of today and tomorrow
BP Sustainability Review2009
This is BP Our main brands Our values
BP is progressive, responsible, innovative and performance driven. Progressive We believe in the principle of mutual advantage and build productive relationships with each other, our partners and our customers. Responsible We are committed to the safety and development of our people and the communities and societies in which we operate. We aim for noaccidents, no harm to people and no damage to the environment. Innovative We push boundaries today and create tomorrow’s breakthroughs through our people and technology. Performance driven We deliver on our promises through continuous improvement and safe, reliable operations. These values guide us in the conduct of our business. In all our business we expect our people to meet high ethicalstandards and to act in accordance with our code of conduct.
To meet growing world demand, BP is committed to: • Exploring, developing and producing more fossil fuel resources. • Manufacturing, processing and delivering better and more advanced products. • Enabling the transition to a lower-carbon future. We aim to do this while operating safely, reliably and in compliance with the law.In Exploration and Production our strategy is to invest to grow production by strengthening our portfolio of leadership positions in the world’s most proliﬁc hydrocarbon basins, enabled by the development and application of technology and strong relationships based on mutual advantage. We intend to sustainably drive cost and capital efﬁciency in accessing, ﬁnding, developing and producingresources, enabled by deep technical capability and a culture of continuous improvement. In Reﬁning and Marketing our strategic focus is on enhancing portfolio quality, integrating activities across value chains and performance efﬁciency. We expect to continue building our business around advantaged assets in material and signiﬁcant energy markets while improving the safety and reliability of ouroperations. In Alternative Energy we have focused our investments in the areas where we believe we can create the greatest competitive advantage. We have substantial businesses in wind and solar power and are developing advanced biofuels and clean energy technologies such as hydrogen power and carbon capture and storage. Looking ahead We intend to play a central role in meeting the world’s continued needfor hydrocarbons. We are creating long-term options for the future in new energy technology and low-carbon energy businesses. We are also enhancing our capabilities in natural gas, which is likely to be a vital source of relatively clean energy during the transition to a lower-carbon economy and beyond.
An introduction to Ernst & Young’s assurance process We have reviewed the contents of BPSustainability Review 2009 to provide assurance on the information reported. This work included testing relevant management information, interviewing BP management and reviewing external media sources. Our conclusions, which can be found on page 34, have been prepared against the main principles of the AA1000 Assurance Standard (2008). Several of our speciﬁc observations have also been included onrelevant pages of this Sustainability Review. Speciﬁc observation from Ernst & Young BP has highlighted ‘energy challenges’ but could also describe the issues that stakeholders consider to be emerging sustainability trends. This could include, for example, water management and reputational risks associated with supplier working practices, and how this may impact on the business.