BP

Ranked 9 in 2008 global Accountability Rating

BP first gained acclaim as a ‘more sustainable’ oil company in the early 2000, when it was the first to openly speak about the contribution of fossil fuels to climate change.  Since then, BP has shown repeatedly that it is open to active dialogue and participation in sustainability efforts.

Key activities include:

• A strong track record in investment in alternative energy sources ($1.5 billion in 2008), including wind, solar, biofuels and hydrogen.
• Active membership in the Roundtable on Sustainable Biofuels, founding member of the Voluntary Principles on Business and Human Rights, and a supporter of the Extractive Industries Transparency Initiative.
• Independent advisory panels are established to oversee and monitor high impact projects on behalf of stakeholders. An annual report ensures transparency of proceedings and illustrates BP’s responses to issues raised by the panels.
• An independent ethics hotline allows employees and stakeholders to raise concerns with a guarantee that they are investigated and responded to.
• Following the fatal Texas City accident and the Alaskan oil spill, a review was conducted by an independent safety review panel. This led to recommendations whose progressive implementation has given BP one of the most robust environmental, health and safety management system in the industry. The system is monitored by a safety, ethics and environment assurance committee, and undergoes continuous auditing and evaluation.