In all our dealings, we aim to build mutually beneficial relationships with all stakeholders potentially impacted by our operations, including employees, contractors and members of host communities.”66 BP plc Statements on Climate Change “The world needs more energy but with fewer carbon emissions. BP is playing an active role in meeting this dual challenge.”67 “We are targeting zero net growth in our operational emissions out to 2025. We aim to deliver this through sustainable greenhouse gas (GHG) emissions reductions totaling 3.5Mte by 2025, by targeting a methane intensity of 0.2% and, as necessary, with offsets to keep net emissions growth to zero.”68 “Climate change and the transition to a lower carbon economy– policy, legal, regulatory, technology and market change related to the issue of climate change could increase costs, reduce demand for our products, reduce revenue and limit certain growth opportunities. Changes in laws, regulations, policies, obligations, social attitudes and customer preferences relating to the transition to a lower carbon economy could have a cost impact on our business, including increasing compliance and litigation costs, and could impact our strategy. Such changes could lead to constraints on production and supply and access to new reserves.”69 “We believe that well-designed carbon pricing provides the right incentives for everyone – energy producers and consumers alike – to play their part in reducing emissions. It makes energy efficiency more attractive and makes low carbon solutions, such as renewables and carbon capture, use and storage, more cost competitive. A fifth of the world’s greenhouse gas (GHG) emissions are now covered by carbon pricing systems. We expect around two thirds of BP’s direct GHG emissions will be in countries subject to emissions and carbon policies by 2020. We think a welldesigned price on carbon is the most efficient way to reduce GHG emissions and we have set out our carbon pricing principles at bp.com/carbon pricing. They include our view that a price on carbon should: • Apply to all quantifiable GHG emissions in all sectors of the economy on a CO2 equivalent basis. BHP, Code of Conduct, available at https://www.bhp.com/our-approach/our-company/our-code-ofconduct/caring-about-society/respecting-human-rights (last accessed on 12 September 2019). 67 BP Plc (2018), Growing the Business and Advancing the Energy Transition: Annual Report and Form 20-F 2018, p. 45, available at https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-annualreport-and-form-20f-2018.pdf (last accessed on 12 September 2019). 68 Id., p. 46. 69 Id., p. 55. 66 Annex D: Corporate Statements on Climate Change and Human Rights | 14