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Economic and dam related articles

BP Launches Climate Neutral
Driving for U.K. Drivers

by Staff
GreenBiz.com, August 24, 2006

LONDON - British oil giant BP has launched a program that allows U.K. drivers to neutralize the carbon dioxide emissions caused by their driving.

The program, available at www.targetneutral.com, enables all drivers to take action to reduce their individual impact on climate change by funding CO2 reductions generated from environmental projects. An average car, driven 10,000 miles in a year, generates approximately four tons of CO2. To neutralize this amount of carbon emissions via targetneutral will cost around £20 (about US$38) a year.

The program has been developed in consultation with leading NGOs, says BP, and will be advised and monitored by an independent Advisory and Assurance Panel chaired by Jonathon Porritt, Founder Director of Forum for the Future www.forumforthefuture.org.uk.

Peter Mather, BP's Head of Country, U.K. said: "targetneutral is a practical and straightforward step that BP is taking to enable drivers to help the environment. BP is taking the lead because our extensive research shows that there is a huge consumer demand for such a scheme, but a general feeling from customers that they don't know where to start."

"The scientific consensus on climate change is overwhelming: we need to take radical action now if we are to avoid catastrophic consequences," said Jonathon Porritt. "We all have a responsibility to take up that challenge in our own lives, at home, work or as motorists. For this reason, Forum for the Future is very supportive of what BP is doing through targetneutral. The scheme should help raise awareness of the links between driving and climate change. Helping everyone get more 'carbon literate' is something that all oil companies will need to commit to in the very near future".

BP has initiated targetneutral, providing all set-up funding and will meet all ongoing running costs. The company says that all targetneutral members' money, apart from taxes and payment transaction costs, will go toward CO2 emission reductions via the purchase of carbon credits. BP takes nothing from the scheme membersÕ contribution.

The money generated by targetneutral goes to a portfolio of CO2 reduction projects including alternative and renewable energy. Replacing traditional energy production methods with low CO2 emitting alternatives, is one way CO2 reductions are achieved. Initially there are five projects including a biomass energy plant in Himachal Pradesh; a wind farm in Karnataka, India and an animal waste management and methane capture program in Mexico. As targetneutral grows, more projects will be added.

BP says it will follow strict procedures to ensure the projectsÕ integrity.


Staff
BP Launches Climate Neutral Driving for U.K. Drivers
GreenBiz.com, August 24, 2006

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