BP Carbon Sequestration and Offsets

• BP is a member of the CO2 Capture Research Project (CCP), an international effort by seven of the world’s leading energy companies. BP is learning from its CO₂ geologic storage facility in Algeria, where it will be storing around one million tons of CO₂ a year beginning in 2004.
  
  

• BP is working with the MIT Energy Laboratory as part of a consortium researching the environmental impacts, technological approaches, and economic issues associated with carbon sequestration. The MIT research focuses on efforts to better understand and reduce the cost of carbon separation and sequestration.

• BP is contributing to the development of a Blue Chip Standard, as part of the Climate and Biodiversity Alliance, for demonstrating the contribution of forestry projects to the goal of atmospheric greenhouse gas stabilization. This standard will support the creation of carbon sequestration credits that are generally recognized and therefore tradable.

• BP’s Global Choice program allows Australian business customers to offset the greenhouse gas emissions from their fuel consumption.  Participation in the program is free for companies purchasing BP Ultimate or bp autogas and only 1-2 cents per liter to offset regular unleaded or diesel fuels.  The offsets are independently audited and certified by the Australian Federal Government’s Australian Greenhouse Office (AGO).  Since November 2001, over 6,500 customers have offset 626,095 tonnes of greenhouse gases.

To view carbon sequestration and offsets programs of all BELC members, visit What's Being Done in the Business Community section of this site.