BP’s optimism on carbon emissions
British Power Chief Executive, Tony Hayward gave an interesting talk on BP’s recent projects and investments in new technologies to reduce carbon emissions and alternative sources of energy. He gives description of several other technologies, company targets and demonstrates enthusiasm and optimism in the Cap and Trade system.
We have reduced the carbon emissions from our own operations ahead of target; we are investing $8 billion in alternative sources of energy, such as solar, wind and hydrogen power; we have pledged $500m to a new Biosciences Institute at the University of California at Berkeley and the University of Illinois Urbana-Champaign, in order to develop the next generation of biofuels; and we are planning the world’s first hydrogen power plant at our Carson refinery in California.
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When it comes to the wider consideration of what we should collectively do about climate change, BP has a very firm point of view, which I hope you will share. We believe in markets.
Read his speech, entitled ‘Delivering Technologies via Carbon Markets’