English (pdf, 894KB) - BP

BP 2002 Environmental and Social Review 1I believe that our long-term future depends on our environmental and social performance. Excellencein operational performance generates financial returns, but enduring growth depends on somethingmore – on being a responsible citizen in the world and earning the continuing support of customers,shareholders, local communities and other stakeholders.At BP, environmental and social responsibility is interwoven with operational and financialresponsibility – treated with the same discipline, rigour and attention to detail. During 2002,we took some significant steps:• We again improved our safety record. Fewer people were hurt while working for BP, whetheras employees or contractors, maintaining our long-term improvement since 1987.• We ended corporate political contributions.• We prohibited all facilitation payments.• We set out our new target on greenhouse gas emissions.This Review covers BP’s environmental and social progress in 2002, and sets out our ambitions forthe years ahead. It shows not only that we have achieved a good deal, but also that we are restless toachieve much more.In addition, we discuss here our wider role and responsibilities as one of the world’s largest energysuppliers. Energy meets basic human needs for warmth, light and power. It alleviates poverty, extendslife expectancy and assists development. It powers manufacturing, commerce and communications.The challenge to energy companies such as BP is to generate these benefits while managing thesocial and environmental impact of their production. This Review shows how we are managing theseissues as we extend our operations from established fields in the North Sea and Alaska to new areaswith new opportunities and new challenges, including Russia, China, Angola, Azerbaijan and Indonesia.During 2002, the business world remained under intense scrutiny. The Johannesburg Summitunderlined the role of business in development and, in the USA, new legislation has provided strongersafeguards for investors.While such scrutiny can help to build greater trust in businesses, I believe that the lasting guaranteesof corporate probity lie within a company rather than outside it – in its people, values and behaviour. ThisReview therefore reiterates ‘what we stand for’ – our policies and commitments with regard to health,safety and environment; employees; relationships; and ethical conduct.By following such policies, striving for improvement and reporting openly on progress, I believe wewill build on our record and become what we aspire to be – a great company in a sustainable world.The Lord Browne of MadingleyGroup Chief ExecutiveApril 2003