Günther Thallinger, Allianz CIO and Chair of Asset Owner Alliance reacts to BP’s announcement

14 February 2020

Günther Thallinger, Allianz CIO and Chair of the UN-convened Net-Zero Asset Owner Alliance, reacts to BP’s announcement: “We welcome BP‘s announcement to reduce its carbon emission by 2050. This ambition is a step towards achieving the objective of our Net-Zero Asset Owner Alliance commitment. It is a significant statement and we expect it will encourage other oil majors to also move in the net-zero emissions direction. We fully support continued investor engagement to detail clear implementation plans to make BP’s ambition become a reality, including near-term incremental targets. We look forward to the details BP has suggested it will issue especially on intended use of offsets, how it will fully integrate the products it sells under its net zero commitment, and on how this will affect BP’s exploration-related capital expenditure plans.”

 Read BP’s full statement here: https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bernard-looney-announces-new-ambition-for-bp.html

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