Among the 5 European majors, BP has the strongest climate strategy, and for the first time, there is a divergence in the way Shell and BP are approaching climate transition. 

The BP board faces a pivotal decision on whether it appoints a CEO aligned with a focus on pursuing value from low carbon.

BP’s low carbon strategies over the last 15+ years (below) have experienced many iterations, with long-term execution a challenge. We will be waiting to see if it can see through the execution of its current strategy.