In the UK, we have one of the boldest greenhouse gas emissions targets in the world – to reach net zero by 2050. Businesses across the country are working to reach that target, and we’re helping many of them with our sustainability and assurance expertise.
One example of this is our work with BP. Specialists in our Risk Advisory team are providing independent assurance on BP’s Advancing Low Carbon (ALC) programme, an initiative that brings together a range of BP’s business activities that are cutting or mitigating carbon CO₂ emissions. Since its start in 2017, the programme has identified an estimated 64 million tonnes of CO₂e savings or offsets.
“This is such a huge issue for the oil and gas industry, so it’s vital that companies help highlight activities,” explains Deloitte partner Mike Barber.
Innovation and enterprise are more powerful when they’re backed by rigour and scrutiny.
As a leader in sustainability assurance, we’re able to assess BP’s ALC programme objectively and make sure it’s publicly accountable.
Our people make sure all activities have been through the correct internal processes, meet specific requirements and are aligned to global methodologies, like the Greenhouse Gas Protocol (an international accounting tool for government and business leaders). They check that reported carbon saving and offset figures are accurate. And they engage with people across BP to understand the processes, systems and controls used to measure, record, validate and consolidate the figures.
To be recognised by the programme, activities must deliver a ‘better carbon outcome’, meet a set of specified criteria and pass our independent assurance checks. Only then can they be awarded BP’s Advancing Low Carbon mark.
Our expertise in this area is helping BP to turn its ambition into actions.
Investing for tomorrow
“There’s huge variety in the projects we assure,” explains Mike Barber. Examples include a joint venture between BP and Chinese transportation company DiDi to provide electric vehicles with fast-charge services; BP’s investment in Birmingham energy management company Grid Edge, which uses artificial intelligence to help optimise their buildings’ energy profiles; and sustainable emissions reductions across BP’s operations.
Mike continues: “All of us have a long way to go to reach the 2050 target – it is just the beginning and it will be interesting to see what organisations across the UK do next.”
Providing independent assurance on BP’s efforts to reduce carbon emissions is just one of the ways we’re helping clients as we work towards a net zero future together. For the past five years, we’ve been working with the not-for-profit organisation, Oil and Gas UK. We run a survey that uses 1,400 sets of data to analyse how operators and suppliers are collaborating to reduce costs and their carbon footprint and increase safety in the UK Continental Shelf. This survey helps to protect UK jobs, skills and capabilities in an industry that contributes approximately three percent of UK GDP and is vital to helping the UK reach the net zero target.
Want to make an impact that matters? Explore careers at Deloitte here.