The future of BP's venture and low-carbon strategies

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Photo: Alexander Demianchuk/TASS via Getty Images

HOUSTON — I caught up with Lamar McKay, BP's deputy chief executive, to chat about the company's venture and low-carbon strategies.

Where it stands: BP Ventures is mix of equity investments, acquisitions, and collaborations in technologies like fast battery charging, advanced monitoring of oil-and-gas operations, artificial intelligence and more. It's part of BP's wider, $500 million-per-year mix of low-carbon and alternative energy investments.

BP agrees to activists' calls for wider climate disclosure

BP logo.
Photo: Alexander Demianchuk/TASS via Getty Images

BP is supporting a proposal by activist investors that calls on the multinational giant to disclose how its spending and strategies sync up with the Paris climate agreement. In a related move, BP said progress on greenhouse gas cuts will factor into the pay of 36,000 employees, including executive directors.

Why it matters: Friday's move is the latest sign of how some of the world's biggest fossil fuel producers are responding to pressure from advocates — including some large investors — on global warming.