BP sets net zero carbon target for 2050

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New chief executive, Bernard Looney, plans major overhaul of oil and gas company

BP’s new chief executive has set an ambition to shrink the oil giant’s carbon footprint to net zero by 2050 and will cut the carbon intensity of the energy it sells by 50% over the same period.

BP will follow the lead of other major oil companies by launching a new team tasked with setting out a roadmap for BP to play a role in decarbonising the energy system.

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