Report: BP abandoning trade groups in climate split
Oil-and-gas giant BP is planning to leave at least two industry trade groups due to differences over climate change policy, The Washington Post reported Tuesday night.
Driving the news: BP is expected to leave American Fuel & Petrochemical Manufacturers (AFPM), and the Western States Petroleum Association (WSPA), they report. The WSPA confirmed to Axios that BP is leaving.
- The WashPost report also says that BP "might also pull out of a third association."
Why it matters: The move signals wider fault lines within the industry over climate as some companies, including BP, call for steps including carbon pricing and regulating methane emissions.
Yes, but: WashPost notes that BP is expected to remain with the American Petroleum Institute, the industry's most powerful lobbying group. BP did not immediately provide comment Tuesday night.
Catch up quick: BP, when announcing new emissions pledges two weeks ago, said it was reviewing its trade association memberships and would announce the outcome by the end of this month.
- New CEO Bernard Looney said BP would advocate for their views within the groups, be "transparent" about differences, and "where we can't reach alignment, we will be prepared to leave."
- Oil giants Shell and Total announced their departures from AFPM last year.