BP Will Slash Oil Production By 40% & Pour Billions Into Green Energy

BIG NEWS VIA @cnnclimate BP announced Tuesday that it is planning to slash oil and gas production and pour billions into clean energy, in pursuit of net zero emissions by 2050. The company’s oil and gas production is expected to fall by at least one million barrels a day by 2030, a 40% reduction from 2019 levels. The company is also aiming for $5 billion in annual low carbon investments by 2030, exploring avenues like bioenergy, hydrogen and carbon capture and storage. These promises come after a $16.8-billion loss for the company in the second quarter. ⁠

To learn more about BP’s efforts, tap the link in our bio. (📸: Ben Stansall/AFP/Getty Images)