This report is an update on progress against bp’s net zero ambition. Our ambition to achieve net zero across operations, production and sales, by 2050 or sooner, remains unchanged.

It includes a reminder of why we believe our ambition is consistent with the Paris goals and our planned actions this decade. We chose to focus on our activity up to 2030 as the actions we are taking now will help set the foundations for achieving net zero after that, by 2050, or sooner and for our efforts to help the world reach net zero.

We have updated our progress to date to take account of our performance in 2022 and reflected the updates to some of our aims announced in February 2023.

This progress update complements information provided in our 4Q/full year 2022 results and update on strategic progress, the bp Annual Report 2022 and other materials on our strategy, financial frame, investor proposition, sustainability report and sustainability frame, available at bp.com.