THE PROCUREMENT INTERVIEW
reinventing bp by transforming it into an integrated energy company .
Sustainability is a critical foundation of our strategy and we have three pillars : resilient hydrocarbons , convenience and mobility ; low carbon energy ; and a fully integrated supply chain . In the end , you want to talk to your children and say that you have done something good for the planet .
Q . COULD YOU TALK TO ME ABOUT YOUR SUSTAINABILITY EFFORTS ? The first of three major topics is net zero across our entire operations , upstream business , and sales on an absolute basis by 20050 or sooner . However , we have of course also short term aims for 2025 as well as 2030 . These were the biggest milestones which are non-negotiable for us .
The next is to install methane measurements at all our existing major oil and gas processing sites by 2023 to achieve a 50 % reduction in the intensity of our operations . We are also increasing our investment significantly in renewable energies as we head towards 2025 ( US $ 304bn a year ) and by 2030 US $ 5bn . bp has in fact recently acquired four wind farms in the North Sea – a heavy investment of more than US $ 10bn in Germany for renewable energy .
Q . HOW ARE YOU LOOKING TO INCREASE YOUR SUPPLIER DIVERSITY AND SUSTAINABLE PURCHASING ?
» bp is continuing to increase its diversity and inclusion when it comes to suppliers . This particularly affects our US colleagues , and we are overachieving our targets in this area . We take this area very seriously . Sustainable purchasing is also a core focus area for bp and myself specifically .
“ We will identify those partners who want to create a sustainable future for us in order to transform ”
We will do everything to support this in procurement which means culture and capability , procurement practices , and data insights supporting those elements . Our policies , goals , and supplier expectations also drive this .
Specifically we are working with our suppliers to decarbonise the supply chain , as well as promote and respect human rights in the supply chain , unblock value through diversity , and encourage suppliers to use resources responsibly by embracing a circular economy .
Q . HOW CRITICAL IS IT THAT PROCUREMENT NOT ONLY SUPPORTS THE WIDER STRATEGY , BUT ACCELERATES IT GOING FORWARD ?
» It is more than critical , if you can imagine that . On the one hand we have our own operations . On the one hand we have our own explorations , of course , which is basically where we are responsible . The amount of investments , the amount of money which is going into the system from such a big company like bp is making the difference in terms of how the supply chain is being set up , which means we have several two digit
16 February 2024