Oil and gas producers
One of the world's largest oil and gas companies.
The 2017 Corporate Human Rights Benchmark assessed 98 of the largest publicly traded companies in the world from the Agricultural Products, Apparel and Extractives sectors on 100 human rights indicators. This company's score was in the 40-49 band range. The overall average score was 28.7%.
[Source 2017][More on Human Rights]
This company received a score of 69.5/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
[Source 2017][More on Sustainability Reporting]
This company ranked 6th on the list of 100 oil & gas companies in the 2016 Carbon Underground 200, a ranking of fossil fuel companies being targeted for divestment. Companies are ranked by the potential carbon emissions content of their proven reserves. The reserves of these companies total almost five times more than can be burned for the world to have an 80% chance of limiting global temperature rise to 2°C.
[Source 2016][More on Climate Change]
In Nov 2012 BP agreed to plead guilty to felony manslaughter, environmental crimes and obstruction of Congress and pay a record $4billion in criminal fines and penalties for its conduct leading to the 2010 Deepwater Horizon disaster that killed 11 people and caused the largest environmental disaster in US history.
[Source 2012][More on Habitats]
As You Sow's 2016 report, 'Disclosing the Facts: Transparency and Risk in Hydraulic Fracturing Operations', benchmarks 28 companies engaged in hydraulic fracturing ('fracking') against investor needs for disclosure of operational impacts and mitigation efforts. This company only succeeded in disclosing information on 6 of the 43 indicators related to management of toxic chemicals, water and waste, air emissions, methane leakage and community impacts.
[Source 2016][More on Governance]
In 2015 BP settled all remaining federal, state and local civil claims related to the Deepwater Horizon disaster for a total of $20.8 billion. The largest portions of that amount were a $5.5 billion Clean Water Act penalty, $8.1 billion in natural resources damages and $4.9 billion in economic damages to state and local governments.
[Source 2015][More on Finance]
BP reached a $7.8b settlement in March 2012 with lawyers representing thousands of plaintiffs who were affected by the worst oil spill in US history in April 2010, which killed 11 workers and poured millions of barrels of oil into the Gulf of Mexico. BP continues to face civil charges from five Gulf Coast state governments.
[Source 2012][More on Finance]
Platform's 2013 report 'Making a Killing: Oil Companies, Tax Avoidance and Subsidies' accuses BP of large scale UK tax avoidance. BP receives major government support including direct subsidies and military and diplomatic services, but seem to pay very small amounts of UK tax in comparison to their global profits. BP and Shell are particularly committed to tax havens, with more tax-dodging subsidiaries than their competitors: 605 and 523 high-secrecy subsidiaries respectively.
[Source 2013][More on Finance]
The US Securities and Exchange Commission (SEC) charged BP plc on 15.11.12 with misleading investors while its Deepwater Horizons oil rig was gushing into the Gulf of Mexico by significantly understating the rate in multiple reports filed with the SEC. BP agreed to settle the SEC's charges by paying US$525m, the third largest penalty in the agency's history. The SEC will establish a Fair Fund to provide compensation to investors who sustained losses in the fraud.
[Source 2012][More on Finance]
Named in Corporate Accountability International's 2010 Corporate Hall of Shame for causing the worst environmental catastrophe in U.S. history, devastating the livelihoods of millions across the Gulf Coast and putting profits ahead of safety, leading to the explosion that cost the lives of eleven oil rig workers. [Listed under Information due to age of report]
[Source 2010][More on Habitats]
In public, BP talks about its commitment to renewable energy and its tree-planting carbon offset schemes, but in 2009 the company has pulled out of several major renewable projects and reduced its investment in renewable energy substantially, while continuing to invest heavily in fossil fuels. Consumers International think a greenwash award is most definitely in order. [Listed under Information due to age of award]
[Source 2009][More on Irresponsible Marketing]
BP has received a number of multi-million dollar fines for safety breaches following an explosion at a Texas oil refinery in 2005 which killed 15 people. In court cases related to the incident BP were fined $13m in 2012, $51m in 2010, $87m in 2009, $373m in 2007, and $21.3m in 2005. [Listed under Information due to age of court findings]
[Source 2010][More on Workers Rights]
This company appeared second on RepRisk's top ten "most environmentally and socially controversial companies of 2010". Companies on the list were severely criticised during 2010 by the world's media, governments and NGOs. Criticisms of BP include involvement in the Deepwater Horizon oil spill, Canadian tar sands, fracking, human rights abuses in Angola, and ongoing violent persecution of unionized workers at its operations in Colombia. [Listed under Information due to age of report]
[Source 2010][More on Human Rights]
This company has been criticised by ActionAid for having subsidiaries in tax havens. One of the main reasons companies have subsidiaries in tax havens is to dodge their taxes. Developing countries lose more to tax dodging than they receive in aid each year.
[Source 2011][More on Finance]
BP is listed on the Federal Contractor Misconduct Database as having 63 instances of misconduct since 1995 amounting to almost US$15 billion in penalties. Instances include underpayment of royalties, safety violations, and pollution.
[Source 2013][More on Governance]
Named one of Multinational Monitor's '10 Worst Corporations of 2007' [listed under information due to age of report].
[Source 2007][More on Governance]
The United Nations Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of 10 values in the areas of human rights, labour standards, the environment, and anti-corruption. However it's non-binding nature has been widely criticised, and many signatory corporations continue to violate the Compact's values.
[Source x][More on Sustainability Reporting]
The Corporate Research Project's Corporate Rap Sheets are dossiers summarising the most significant crimes, violations and other questionable activities of the world's largest and most controversial companies. Follow link to see this company's Corporate Rap Sheet. "The company has been the target of intense criticism for its role in the April 2010 explosion at a drilling platform in the Gulf of Mexico that killed 11 workers and caused an underwater leak that spewed millions of gallons of crude oil into the ocean, creating the most serious environmental disaster in U.S. history. The company later paid a record $4 billion in fines and penalties while pleading guilty to manslaughter and other criminal charges. This incident in the Gulf occurred while BP was still contending with the legal and public relations fallout from a deadly explosion at a refinery in Texas, oil spills in the Alaskan tundra, and charges of manipulating energy commodities markets. BP has also faced human rights charges in countries such as Indonesia, Turkey, and Colombia."
OpenSecrets.org tracks the influence of money on U.S. politics, and how that money affects policy and citizens' lives. Follow link to see this company's record of political donations, lobbying, outside spending and more.
|Company Structure||Public company|
|Revenue||US$388 billion in 2012|
|# Employees||85,900 in 2012|
|Subsidiaries||BP Australia Pty Ltd|
|Address||London, United Kingdom|