February 6, 2019
BP Linking Bonuses to Climate Targets
– Liz Dunshee
I blogged in December about Shell’s decision to link high-level employee pay to carbon reduction targets – following engagement with Climate Action 100+. Now BP, who has decided to support a shareholder proposal from that same coalition, has followed suit – announcing that it will factor greenhouse gas emission reductions into rewards for 36,000 employees worldwide. Here’s how they’ll do it:
In 2018 BP introduced a target to achieve 3.5 million tonnes of sustainable GHG emissions reductions in its operations worldwide by 2025. Progress towards this target has now been incorporated into the assessment of the Group’s performance that is a factor in determining annual bonuses for BP staff worldwide. This will apply to the assessment of BP’s performance in 2019.