WATCH: BP outlines energy transition plans

Oil giant BP has released a video outlining how it plans to approach the energy transition.

The video, featuring BP chief executive Bob Dudley, explains how the firm aims to grow its business in the future without increasing operational emissions.

Setting out its low carbon agenda in April, BP said it was looking at strong investment in renewable energy, with the firm setting out its “accredited activities” in the first year, pointing to wind energy and Brazilian biofuels and biopower.

BP also outlined its commitment to renewable energy via the investment of just under £140million over the next three years in solar firm BP Lightsource, which it calls “Europe’s largest”.

BP said: “We will deliver this commitment by reducing emissions in our operations, improving our products and services, and creating low carbon businesses. This is just the latest step in our 20-plus year journey – but a significant one and one we plan to build on in the years to come.”