on the news, and analysts, on the whole, have responded positively to the company's steep dividend cut in light of the new strategy.
But until now, BP revealed few details on how it planned to achieve the target, and what the pandemic might mean for its ambitions. Earlier this year, the companyBusiness Insider compiled six key slides from Tuesday's investor presentation that spell out the company's new strategy. BP's strategy is based on the idea that renewable energy and electric cars will dominate in the years to come as demand for oil and gas wanes.
"Changes in mobility patterns will also impact convenience, redefining the role of physical stores and supporting the growth of the last-mile delivery," she said. BP will deploy 50 gigawatts of renewable energy by 2030, while also investing in hydrogen and bioenergy.BP is ramping up investment in renewable energy, from about $500 million last year to $5 billion per year by 2030. At that time, the company said it will have deployed 50 gigawatts of wind and solar power, up from 2.
For scale, 90% of the people living in the UK and Germany live within 20 minutes of a BP gas station, Looney said. The company isn't pivoting away from fossil fuels altogether, but it has pledged to lower the emissions that those fuels produce.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Real examples of the 10 slides entrepreneurs need in a pitch deck - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Why Lincoln's move to an all-SUV lineup is a smart strategy - Business InsiderLincoln is synonymous with old-school American luxury, but it's had to make some changes in order to survive in 2020’s luxury car market. To stay relevant, Lincoln has a plan. And it's willing to make some sacrifices to pull it off.
Source: BusinessInsider - 🏆 729. / 51 Read more »
How to build an AI strategy that connects with customers - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Business Insider webinar: How influencers earn money in pandemic - Business InsiderSIGN UP NOW: Next week we're talking to YouTube and Instagram influencers with millions of followers about how they're adapting their businesses during the pandemic and earning 6-figure incomes
Source: BusinessInsider - 🏆 729. / 51 Read more »
Searchable database of Business Insider pitch decks - Business Insider[Thread] Startups convince investors to fund their ideas using pitch decks. Business Insider regularly seeks out and publishes these decks to give readers an inside look at how successful companies persuaded investors to fund them. For the first time, these decks—presentations that combine slideshows with storytelling—have been combined into a single, searchable library that you can explore. 👇
Source: BusinessInsider - 🏆 729. / 51 Read more »
Business Insider's best investing stories of July 2020 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »