BP Launches First Triple Bottom Line Report
· BP Launches First Triple Bottom Line Report
·
· BP
New Zealand today released its first triple bottom line
report, which simultaneously measures the company’s
environmental, social and financial performance in New
Zealand.
·
· “This is the first year that BP has
compiled a single annual report into all aspects of our
performance in New Zealand,” said BP Managing Director Peter
Griffiths.
·
· “We acknowledge that, like all
business, our operations have an impact on the local
environment and on society. This report reflects our
commitment to fully understanding those impacts so that they
can be reduced and managed as much as
possible.”
·
· Mr Griffiths said he was proud of the
initiatives BP was pursuing in New Zealand including the
drive for cleaner burning petrol and diesel, investment in
renewable energy, staff safety and management processes and
community sponsorship programmes.
·
· “The triple
bottom line approach makes good business sense. Superior
social and environmental performance underpins healthy
financial performance and creates new business
opportunities. It also helps build lasting and valuable
relationships with our staff, our customers and the wider
community.” said Mr Griffiths.
·
· Mr Griffiths said
the company’s first triple bottom line report would set a
solid benchmark for further improvements and monitoring of
performance in the future.
·
· “Triple bottom line
reporting is about much more than just issuing a report, it
is about integrating the principles of sustainable
development into our everyday business and being open,
transparent and accountable in our
operations.”
·
· The report has been independently
assessed and verified by URS New Zealand, with all
statements of fact verified, and interviews conducted with
staff and third parties.
·
· Key facts and figures
follow – ends –
·
· Cleaner Fuels BP introduced low
sulphur diesel in Christchurch in 2000 in response to the
city’s smog problem, helping drive down sulphur content in
all diesels during 2002; In 2000 BP introduced the cleaner
burning, 98 octane Ultimate fuel which is now in 30 service
stations in the North Island. Ultimate has a quarter the
benzene of standard Premium 96 octane fuels and one third
the sulphur content.
·
· Renewable energy BP is the
world’s largest producer of solar panels outside of Japan, a
business worth $NZ400 million and expected to grow to $2
billion by 2007; BP is the world’s largest consumer of
privately-generated solar electricity and is investing
millions of dollars every year in the development of the
technology; Internationally BP has installed solar canopies
at 385 forecourts, 15 of which are in New
Zealand;
·
· Climate Change BP supported New
Zealand’s ratification of the Kyoto Protocol in late 2002
and was the first major oil company to acknowledge concern
over climate change; In 1997 BP globally committed to reduce
its own emissions by 10 per cent by 2010, against a 1990
baseline; All of BP’s business units around the world must
report their CO2 and methane emissions annually and have
limits on the amount of emissions they can produce; As some
of BP’s business assets can reduce their emissions more
easily than others, BP has in place an internal emissions
trading system to provide incentives to business units to
reduce their emissions, in many cases beyond targets; BP is
working with car manufacturers and research organisations to
develop and make available new sustainable technologies like
hydrogen;
·
· Community relations, sponsorship BP has
sponsored Surf Life Saving New Zealand for the last 35
years, making it probably the longest-running sponsorship in
New Zealand. Last summer 650 people were rescued by
BP-funded inflatable rubber boats; The BP Challenge is one
of New Zealand’s best known education sponsorships, which
over 250,000 primary and secondary school students
participate in every year. The Challenge is held both within
and between schools and challenges students to solve
problems with everyday items such as newspapers, scissors
and string;
·
·
·
· Human Resources BP has a
range of world class policies and procedures in place for
protecting the health and safety of staff and contractors:
All BP tankers are fitted with seat belts and all company
and lease vehicles are equipped with anti lock braking
systems, side intrusion beams and dual air bags; BP invests
heavily in training and processes to reduce accidents. In
2002 there was one work-place accident that required time
off work; Air quality at service stations is monitored every
year. The 2002 results found benzene levels between 0.01 to
0.20 parts per million. The New Zealand workplace standard
is five ppm; BP has a comprehensive ethics policy that
underpins all business operations. Each staff member must
sign a certificate every year stating that they have read
and understood this policy. All leaders of every large
business unit must also sign an annual declaration attesting
that their unit has adopted the ethics policy and has
systems in place to ensure compliance.
·
· Job
creation Around 1400 people work for BP with approx 1100
employed at service stations and 300 outside service
stations. This is around 100 more staff than in 2001; There
are around 400 BP service stations around New Zealand – 260
of which are privately owned and operated;
·
Economic
performance Turnover $1,564m Net investment in New
Zealand $ 441m Historic Cost net profit (after
tax) $ 41m Return on average capital employed 13 %
New capital invested $ 24m