BP Says It Will Stick With Top US Oil Lobby After Climate Shift
BP said it will remain a member of the American Petroleum Institute after the largest US oil and gas trade lobby group addressed some differences with the British energy company over climate change.
BP said on 10 May that it will remain a member of the American Petroleum Institute (API) after the largest US oil and gas trade lobby group addressed some differences with the British energy company over climate change.
BP, which plans to cut its oil output sharply and boost its renewable energy capacity over the next decade, said in a report that, despite "uneven progress", the API was "heading in the right direction."
The API has faced growing pressure from member companies and activist groups to change its policies relating to climate change and drilling regulations.
The trade group started to shift some of its positions as the climate-focused Biden administration came to power this year. In March, it said it supports a carbon price as one measure to mitigate climate change risk.
BP said it was "encouraged" by the API's support for federal regulation on limiting emissions of methane, a potent greenhouse gas, and its support for carbon pricing as well as improving its transparency.
"API's progress has been uneven at times, but, on the whole, the organization has moved considerably over the past year and is heading in the right direction," BP said in the report.
"We will continue to make our case—as members—to influence API on climate and many other areas relevant to our business in the US."
London-based BP, led by CEO Bernard Looney, last year quit the main US refining lobby and two other trade groups but stuck with the API despite saying it was only "partially aligned" with its policies.