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  "documentTitle": "BP plc (BP)",
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  "authorName": "Giuseppe Bivona and Marco Taricco",
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  "notes": "This is a page from an activist investor letter (Bluebell Capital Partners) criticizing BP's climate strategy.",
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      "text": "This plan seems at best ill-conceived and at worst a sleight of hand magic trick.",
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      "text": "In certain cases, even where the technologies are available (such as nuclear power), these are not utilized (as evidenced in Germany, Austria, Italy, Ireland, Denmark, Norway, Portugal, Greece, and Australia), raising questions about the actual political will to achieve Net-Zero by 2050.",
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      "text": "This plan seems at best ill-conceived and at worst a sleight of hand magic trick. The simple reason is that it is sufficiently clear that by 2050, we are highly unlikely to be ready for total, or even significant, decarbonization - the goal will be missed by a very large margin: BP is preparing to operate in a world that BP should know will not exist.",
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      "text": "reducing oil and gas production by 2030 (-40% subsequently halved in February 2023 to -20%), as evidenced further, by reduction targets in Scope 3 emissions (10-15% by 2025 and 20-30% by 2030).",
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      "text": "In an article published in May 2022, by the Yale School of the Environment, the renowned scholar Prof. Vaclav Smil wrote that “complete decarbonization of the global economy by 2050 is now conceivable only at the cost of unthinkable global economic retreat, or as a result of extraordinarily rapid transformations relying on near-miraculous technical advances” (Prof. Vaclav Smil, May 2022).",
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      "text": "In a recently issued update on the Net-Zero Roadmap, the International Energy Agency (IEA) stated that the “pathway to net zero emission by 2050 is very narrow”, pointing out that almost 35% of the emissions savings needed by 2050, to reach net-zero emissions, rely on technologies which are not yet commercially viable, nor available (IEA, September 2023).",
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      "text": "\"pathway to net zero emission by 2050 is very narrow\" — IEA; \"complete decarbonization of the global economy by 2050 is now conceivable only at the cost of unthinkable global economic retreat, or as a result of extraordinarily rapid transformations relying on near-miraculous technical advances\" — Prof. Vaclav Smil",
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      "text": "5 IEA, “Net-Zero Roadmap - A global pathway to keep the 1.5° C goal in reach” (September 2023). 6 Distinguished Professor Emeritus at the University of Manitoba, a Fellow of the Royal Society of Canada (Science Academy), and a Member of the Order of Canada.",
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