BP Statistical Review of World Energy 2020

BP’s annual Statistical Review of World Energy has been providing timely, comprehensive and objective data to the energy community since 1952. The report analyses data on world energy markets from the prior year.

Growth in carbon emissions in 2019 slowed from the sharp increase seen in the previous year, as primary energy consumption decelerated and renewables and natural gas displaced coal from the energy mix.

But to get to net zero by 2050, BP’s Chief Executive Officer Bernard Looney says that the world requires similar-sized reductions in carbon emissions every other year for the next 25 years.

“These technologies exist today – the challenge is to use them at pace and scale.”

“This can be achieved only by a radical shift in all our behaviours,” Mr Loomey said.

“By using resources and energy more efficiently. And by implementing the full range of zero and low carbon energies and technologies at our disposal – including renewable energies, electrification, hydrogen, CCUS (carbon capture use and storage), bioenergy and many more.

“These technologies exist today – the challenge is to use them at pace and scale.

“At BP, we are committed to playing our part. In February, we adopted a new purpose – to reimagine energy for people and our planet. And we announced a new ambition, to be a net zero company by 2050 or sooner and to help the world get to net zero.

“The experience of COVID-19 has only reinforced our commitment to this purpose and ambition, by highlighting both the fragility of our planet and the opportunities it provides to truly build back better.”