BP PLC

#### We know that we have much to learn from others, and much to contribute. That's why we choose to belong to trade associations – and other membership organizations – around the world.

We strongly believe that working together through trade associations and other membership organizations can provide significant and wide-ranging value to bp, to other members, and more broadly for the communities and countries where we operate.

This value comes from:

- Supporting the understanding of issues, including different views and perspectives.

- Protecting lives through improving safety and industry-wide standards.

- Informing and engaging in the debate on the energy transition.

- Developing and sharing knowledge and promoting good practice.

- Providing input and expert advice on behalf of the sector to regulatory bodies and institutions.

- Supporting professional development.

Some organizations engage in lobbying and advocacy on matters that they consider to be important to their members, or to the sector they represent. This can include a wide range of policy areas, such as tax, employment, trade and climate and energy.

We continue to consider several factors when joining, monitoring and reviewing our existing memberships, including:

- Alignment with our purpose, net zero ambition and aims; strategy; business activities and policy positions.

- The value of our participation or implications of not being involved.

- The potential for us to influence.

- The presence of appropriate arrangements with respect to anti-trust and competition law.

- Financial and time commitments.

We understand that positions taken on any topic by an organization are often a compromise or majority view, arrived at through individual decision-making processes, with the potential for widely differing views among membership. Consequently, although we may share our perspective and try to persuade others, we do not expect to dictate the positions our associations may take. We are respectful of others' views and perspectives and where differences arise, our priority is to try to influence from within. We realize that this may take time.

We may publicly dissent from a trade association position – as we did with the Canadian Association of Petroleum Producers (CAPP) and the Netherlands employers' association (VNO-NCV) on carbon pricing in 2020.

And on major issues, if our views and those of an association cannot be reconciled, then we will be prepared to withdraw our membership as we did with American Fuel and Petrochemical Manufacturers (AFPM), the Western Energy Alliance (WEA) and the Western States Petroleum Association (WSPA) in 2020.

To make sure our relationships continue to be constructive, we are transparent about our memberships and where we stand on climate policy. We continue to review our relationships regularly. This is our fourth review, where we look at the progress of our 10 partially aligned associations. [...] In April 2022 we published a detailed review of 51 of our most material trade association memberships and the positions they take on climate. We found 10 of these associations were partially aligned with us. Here we reflect on their progress in 2022. [...] We don't expect that trade associations' positions will always be the same as ours. Members have widely differing views and positions agreed on are often a compromise view. But we will continue to be transparent where we differ, and if we find we no longer hold influence and are unable to reconcile our views, we will be prepared to leave, as we did for three associations in 2020.

BP today announced that, following an in-depth review examining the alignment of the climate-related policies and activities of trade associations with BP's positions, it will leave three US-based organizations – American Fuel and Petrochemical Manufacturers (AFPM), the Western States Petroleum Association (WSPA) and the Western Energy Alliance (WEA). [...] BP has identified a further five organizations with which it is only partially aligned on climate. BP has communicated these differences to these associations. [...] BP has also communicated clear expectations with regards to climate positions and transparency to all associations within scope of the review. [...] This is an ongoing process – BP will actively monitor its memberships, participation and alignment with trade associations to which it belongs and will provide periodic updates, internally to the board of directors and to stakeholders as appropriate. BP plans to undertake another review in around two years' time.

**Governance**\n\nThe BP p.l.c. Board approves the company's strategy and its net zero ambition and aims. One of the matters within the remit of the Board's Safety & Sustainability Committee is oversight of the effectiveness of implementation of bp's sustainability frame, including the implementation of bp's net zero ambition and associated aims and targets. Of these, bp's Aim 6 is to more actively advocate for policies that support net zero, including carbon pricing. In April 2023, the high-level climate policy positions set out below, as well as examples of bp's climate-related advocacy activities, were provided to the Committee for their consideration. At management level, bp's Issues & Advocacy meeting and Sustainability Forum consider policy and advocacy issues and positions respectively – see further bp's Annual Report and Form 20-F 2022.\n\n**Trade associations**\n\nTrade associations of which bp companies are members may themselves hold climate-related policy positions and conduct climate-related policy advocacy. bp's latest update report on participation in such trade associations was published in April 2023 [(https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/sustainability/our-participation-in-trade-associations-2023-progress-update.pdf](https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.bp.com%2Fcontent%2Fdam%2Fbp%2Fbusiness-sites%2Fen%2Fglobal%2Fcorporate%2Fpdfs%2Fsustainability%2Four-participation-in-trade-associations-2023-progress-update.pdf&data=05%7C01%7CMike.A.Nash%40uk.bp.com%7Cbfa608603bab413b633508db352a37e8%7Cea80952ea47642d4aaf45457852b0f7e%7C0%7C0%7C638162227658091629%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=t5hkQ8pARV1ZVvfS1AMHTbTPI%2FrhklDeYezXRSy%2FH9g%3D&reserved=0)[associations-2023-progress-update.pdf](https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.bp.com%2Fcontent%2Fdam%2Fbp%2Fbusiness-sites%2Fen%2Fglobal%2Fcorporate%2Fpdfs%2Fsustainability%2Four-participation-in-trade-associations-2023-progress-update.pdf&data=05%7C01%7CMike.A.Nash%40uk.bp.com%7Cbfa608603bab413b633508db352a37e8%7Cea80952ea47642d4aaf45457852b0f7e%7C0%7C0%7C638162227658091629%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=t5hkQ8pARV1ZVvfS1AMHTbTPI%2FrhklDeYezXRSy%2FH9g%3D&reserved=0)

The board's responsibilities extend to oversight of bp's internal control and risk management frameworks, including with respect to bp's climate-related risks and opportunities. This is set out in the terms of reference of the board, which are available online at bp.com/governance. The board and its committees, including the safety and sustainability, audit, people and governance and remuneration committees, have oversight of climate-related issues, which include climate-related risks and opportunities. The board committees consider climate-related issues where they consider it appropriate to do so in the execution of their responsibilities. Oral reports from each of the committee chairs are included at the board meeting so that the board is kept appraised of relevant matters discussed in those committees including, where applicable, in respect of climate-related risks and opportunities. [...] In 2021 the Board approved revisions to the governance framework to give more clarity, to the extent considered appropriate, of how the board, committee and CEO's roles relate to the management of climate change risk and opportunities.

The BP p.l.c. board approves the company's strategy and its net zero ambition and aims. One of the matters within the remit of the board's safety & sustainability committee is oversight of the effectiveness of implementation of bp's sustainability frame, including the implementation of bp's net zero ambition and associated aims and targets. In April 2023 the high-level climate policy positions set out below, as well as examples of bp's climate-related advocacy activities, were provided to the committee for their consideration. At management level, bp's issues & advocacy meeting and sustainability forum consider policy and advocacy issues and positions respectively. [...] Our priority is to exert influence within trade associations, but we may publicly dissent or resign our membership if there is material misalignment with them on high-priority issues. We periodically assess the alignment of key associations with our 'our positions, including on climate. In 2024 we reviewed 36 of our most significant trade associations memberships. We found that 29 associations aligned with our climate positions, and seven were partially aligned. 'Partially aligned' means that we disagreed on some positions, or that the trade association did not take a public stance on our seven climate positions covering the Paris Agreement, climate science, reducing emissions, carbon pricing, energy efficiency, technology, and carbon credits. We plan to remain members of these seven 'partially aligned' associations and continue to make a strong case for action in support of good climate policy.

**Public policy engagement** The public policy environment sets the framework in which we operate and it is undergoing significant change. Our main public policy positions are subject to endorsement through our SVP-level sustainability forum and regional policy forums. Our positions help us advocate for policies that can drive the transition to a secure, affordable, and low carbon energy system, enable our strategy, and support us to embed sustainability in our business. We monitor the external policy environment to identify opportunities and potential risks to our strategy. **[bp.com/policyandadvocacy](https://www.bp.com/en/global/corporate/sustainability/our-approach-to-sustainability/policy-and-advocacy.html)** **[bp.com/USadvocacy](http://bp.com/USadvocacy)** [...] **Working with trade associations on climate issues** Throughout 2023 we pushed for constructive engagement on climate policy proposals, for example: **The Oil and Gas Climate Initiative (OGCI)** OGCI convened its members to help drive action on climate in areas including methane emissions reduction, carbon capture and storage and the decarbonization of transport. OGCI supported the Oil and Gas Decarbonization Charter, a COP28 initiative, which we signed in 2023. Read more on page 17. **ChargeUK** We played a key role in the creation of ChargeUK, a trade association that brings together leading EV charging infrastructure providers in the UK. It enables charge point operators to work together, with government and other stakeholders to accelerate charging infrastructure roll-out and help make regulations fit for purpose. [...] We periodically assess the alignment of key associations with our position on climate. Following our 2022 review of 51 of our most significant trade association memberships, in 2023 we reviewed the progress of the 10 associations found to be 'partially aligned'. This designation means that we disagreed on some positions or that the trade association did not take a public stance on our seven climate positions covering the Paris Agreement, climate science, reducing emissions, carbon pricing, energy efficiency, technology, and carbon credits. Throughout 2023 we made a case for action in support of our position on climate with these 10 'partially aligned' groups. Overall, we are encouraged by the progress of our trade association memberships. In some cases, by working with others we have succeeded in influencing trade associations' positions – for example, the American Petroleum Institute, with respect to advocacy for year-round sales of E15 gasoline. However, there remain areas where we are partially aligned and on which we continue to engage. **[bp.com/tradeassociations](http://bp.com/tradeassociations)**

Management oversight of sustainability is embedded through our executive-level group sustainability committee, which is chaired by our executive vice president strategy, sustainability & ventures. The committee provides oversight, challenge and support in the implementation of our sustainability frame and oversight of the management of potentially significant non-operational sustainability risks and opportunities, including those related to climate change. [...] Our main public policy positions are subject to endorsement by the sustainability forum and regional policy forums. [...] Trade associations play a key role in fostering industry collaboration and bringing stakeholders together. They also offer opportunities to share good practice on matters of importance to bp. Our voice is one among many, but we believe everyone needs to work together to achieve net zero. Progress is sometimes challenging and uneven because associations need to take account of members' differing views. We recognize this and intend to continue using our influence to support our positions. Our priority is to exert influence within trade associations, but we may publicly dissent or resign our membership if there is material misalignment on high-priority issues. [...] We periodically assess the alignment of key associations with our position on climate. In 2023 we reviewed the progress of the 10 associations we found to be 'partially aligned', following our 2022 review of 51 of our most significant trade association memberships. 'Partially aligned' means that we disagreed on some positions or that the trade association did not take a public stance on our seven climate positions covering the Paris Agreement, climate science, reducing emissions, carbon pricing, energy efficiency, technology, and carbon credits. Throughout 2023 we made a case for action in support of our position on climate with these 10 'partially aligned' groups. Overall, we are encouraged by the progress of our trade association memberships. In some cases, by working with others we have succeeded in influencing trade associations' positions – for example, the American Petroleum Institute, with respect to advocacy for year-round sales of E15 gasoline. However, there remain areas where we are partially aligned and on which we continue to engage.

The board-level safety and sustainability committee (S&SC) oversees effective implementation of the sustainability frame and management of health, safety and environmental risks. [...] Oversight of sustainability matters is embedded through our executive-level group sustainability committee, chaired by our EVP, strategy, sustainability & ventures. The committee's remit is to provide oversight, challenge and support in the implementation of bp's sustainability frame and management of potentially significant non-operational sustainability (including climate-related) risks and opportunities. [...] At SVP level, the sustainability forum comprises representatives from each bp entity, provides feedback to the group sustainability committee and aims to deliver alignment and visibility of key sustainability issues. [...] We reviewed 51 of our most significant trade association memberships in 2022. In comparison, 30 memberships were reviewed in our inaugural 2020 report. We found that 41 associations aligned with our climate positions, and 10 were partially aligned – this means we disagreed on some positions or they did not take a public stance. With these 10 groups, we plan to stay as members and continue to make a strong case for action in support of good climate policy. [...] We periodically assess the alignment of key associations with our position on climate. Our priority is to influence within trade associations, but we may publicly dissent or resign our membership if there is material misalignment on high priority issues.

We assess and encourage alignment when we join, and on an ongoing basis. Our priority is to influence within trade associations, but we may publicly dissent or resign our membership if there is material misalignment on high-priority issues. [...] We engaged third-party consultants, Environmental Resources Management (ERM) to do the initial review, using a process that ERM consider to be rigorous, consistent, objective and fair. Their reviewer statement is on page 7. Using publicly available information, they were assessed to be aligned, partially aligned or not aligned with seven high-level policy positions. We then checked this assessment with relationship owners for each organization within bp, before putting an action plan in place and communicating our findings. [...] We have communicated our findings to all of the 51 organizations in scope. For the 10 organizations we assessed as partially aligned, we will continue to engage and work hard to make the case for our views in the area of climate, and more broadly. Our priority is to influence as members rather than walk away. In line with our aim of aligning associations, if we find we no longer hold influence and are unable to reconcile our views, we are prepared to leave.

Governance
Generally, we believe the governance of the ACCU market is appropriate and of a high
standard. We nonetheless support the periodic review of these arrangements and adjustments
where appropriate to ensure they support the proper functioning of the ACCU Market.

bp would like the governance of the ACCU market to be best practice and remain of high
standard, to avoid conflicts of interest and encourage consistency in decision making and
regulation. But we also need the governance arrangements to be efficient and reflect the scale
and pace of the challenge. Having the right skills and sufficient capability to undertake the
various roles and responsibilities is essential.

We understand calls for some further separation of roles, particularly of the Clean Energy
Regulator. We see merit in separating the role of government purchaser, as it presents at least
a perceived conflict of interest to be regulating the market as well as being the major source of
demand. We reiterate our expectation that the role of the government as buyer will diminish
over time, with compliance and other policy driving demand into the future. We also note the
government has indicated the Powering the Regions fund will not only continue to purchase
ACCUs but also support industry with its decarbonization, fund the development of new clean
energy industries and support workforce development. It makes sense that the purchase of
ACCUs be administered alongside these other aspects of the fund.

### Disclosures

As part of our advocacy activities, we make disclosures under the relevant laws within the jurisdictions in which we operate. For example:

* In Europe, our responses to public consultations, participation in forums and some meetings with officials are logged.
* In Scotland, our face-to-face meetings with members of the Scottish Parliament, officials, ministers and special advisors are logged.
* bp America submits federal lobbying disclosure reports on a quarterly basis in accordance with the US Lobbying Disclosure Act.

The board and its committees have oversight of climate-related issues[f], which include climate-related risks and opportunities. Related board and committee activities are set out within the board activities section and committee reports respectively, which can be found on the pages detailed in the table on page 43. Climate-related risks and opportunities were discussed at each board meeting covering strategy in 2024, and the committees considered climate-related issues where appropriate to do so in fulfilling their responsibilities. Oral reports from each of the committee chairs are given at board meetings to keep the board apprised of the relevant matters discussed including, where applicable, climate-related risks and opportunities. [...] Our policy team monitors policy trends and leads the definition of policy positions in line with bp's strategy and sustainability aims. They work with our regional organization as well as corporate entities to discuss regional and global policy trends and support external positioning and interactions relating to policy and advocacy topics."
"###### Political donations and activity\nWe prohibit the use of bp funds or resources to support any political candidate or party. We recognize the rights of our employees to participate in the political process and these rights are governed by the applicable laws in the countries where we operate. Our stance on political activity is set out in the bp code of conduct.\n\nIn the US we provide administrative support for the bp employee political action committee (PAC) – a non-partisan, employee-led committee that encourages voluntary employee participation in the political process. The bp employee PAC is governed by a board of directors and administrative by-laws. All contributions made by the bp employee PAC are weighed against its criteria for candidate support and reviewed for legal compliance before funds are sent to the recipients requested by our employees, and are publicly reported in accordance with US election laws. Contributions made by the PAC are from employee contributions and not bp funds.\n\n###### Trade associations\nTrade associations play a key role in fostering collaboration, sharing learning and bringing stakeholders together. We periodically assess the alignment of key associations with our position on climate. In 2024 we reviewed 36 of our most significant trade associations memberships. We found that 29 associations aligned with our climate positions, and seven were 'partially aligned'. Our priority is to influence within trade associations, but we may publicly dissent or resign our membership if there is material misalignment on high-priority issues.

Our ambition is also to help the world reach net zero by mid-century and we believe that progressive, well-designed climate policies are key to that. We are actively advocating for such policies, encouraging our trade associations to do the same, and are aspiring to be a transparency leader in our sector so that stakeholders can better measure our progress.

Management oversight of sustainability is embedded through our executive-level group sustainability committee, which is chaired by our executive vice president strategy, sustainability & ventures. The committee provides oversight, challenge and support in the implementation of our sustainability frame and oversight of the management of potentially significant non-operational sustainability risks and opportunities, including those related to climate change. At senior vice president level, the sustainability forum comprises representatives from each bp entity. It provides feedback to the group sustainability committee and aims to align, and improve the visibility of, key sustainability issues. Our main public policy positions are subject to endorsement by the sustainability forum and regional policy forums. A cross-functional sub-committee of the sustainability forum also advises businesses on sustainability-related marketing claims. [...] Our positions help us advocate for policies that can drive the transition to a secure, affordable, and low carbon energy system, enable our strategy, and support us to embed sustainability in our business. We monitor the external policy environment to identify opportunities and potential risks to our strategy. [...] We periodically assess the alignment of key associations with our position on climate. In 2023 we reviewed the progress of the 10 associations we found to be 'partially aligned', following our 2022 review of 51 of our most significant trade association memberships. 'Partially aligned' means that we disagreed on some positions or that the trade association did not take a public stance on our seven climate positions covering the Paris Agreement, climate science, reducing emissions, carbon pricing, energy efficiency, technology, and carbon credits. Throughout 2023 we made a case for action in support of our position on climate with these 10 'partially aligned' groups. Overall, we are encouraged by the progress of our trade association memberships. In some cases, by working with others we have succeeded in influencing trade associations' positions – for example, the American Petroleum Institute, with respect to advocacy for year-round sales of E15 gasoline. However, there remain areas where we are partially aligned and on which we continue to engage.

Aim 6 is to more actively advocate for policies that support net zero, including carbon pricing. We have redirected resources to promote well designed climate policies. In the future, any corporate advertising will be to advocate for progressive climate policy, communicate our net zero ambition or support delivery of our strategy, invite ideas, or build collaborations. [...] Aim 8 is to set new expectations for our relationships with trade associations around the globe. We will make the case for our views on climate change within the associations we belong to, and we will be transparent where we differ. And where we can't reach alignment, we are prepared to leave.

**Working with trade associations on climate** **issues** Our work with trade associations emphasized a number of areas related to climate change, including EVs, hydrogen and methane. We pushed for constructive engagement on climate policy proposals throughout 2022. Some trade associations advocate on matters they consider to be important to their members; despite being a member, we may not always agree with the positions they take. **EVs** We believe electrification of transport is key to helping the world get to net zero and in 2022 we actively advocated for EV charging policies that will accelerate and simplify the roll-out of EV charging infrastructure. As a member of ChargeUp Europe, we called for faster grid connection and permitting procedures. In the US we aim to reduce emissions from road transport by contributing to lower carbon transport options, such as using biofuels, renewable natural gas and EV charging. As well as direct advocacy, we are working with trade associations, such as CharIN, to advocate for technical standards in EV charging and infrastructure. bp pulse fleet, our wholly owned subsidiary, is also supporting the advocacy efforts of a number of different trade associations, including the Advanced Energy Economy, the Electrification Coalition, and the EV Charging Association, to facilitate EV expansion, from manufacturing to generation. In our 2022 review of trade association memberships, we addressed the American Petroleum Institute's (API) opposition to certain policies designed to accelerate the adoption of EVs. We have made it clear that EV charging is a key part of our strategy. **Hydrogen** Hydrogen is one of our five transition growth engines and we believe it will play an important part in decarbonizing the transportation and industrial sectors. In Europe we have promoted a pragmatic approach to classifying hydrogen as low carbon – encouraging incremental increases in the use of renewable power and supporting rapid development of the nascent renewable hydrogen market. We have worked with many trade associations, including Hydrogen Europe, to advocate for a more flexible approach than that set out in rules originally proposed by the European Commission. **Methane** We believe natural gas will play a significant role in the lower carbon energy system of the future. However, natural gas contains a significant proportion of methane, so it is important that it is regulated and that national standards are set. This is a fair way to ensure industry-wide prioritization of methane abatement. With this in mind, in the US, we support the direct federal regulation of methane emissions from new and existing sources across the value chain, commend the EPA for advancing new rules aimed at reducing methane emissions and are working to encourage our trade associations, notably API, to adopt a constructive position in support of federal regulation for new, modified, and existing sources. **Our progress in 2022** Trade associations play a key role in fostering collaboration and bringing stakeholders together. They also offer opportunities to share good practice on issues of importance to bp. Our voice is one among many, but we believe everyone needs to work together to achieve net zero. Progress is sometimes challenging and uneven because associations need to take account of members' differing views. We recognize this and will continue using our influence to make our case. We periodically assess the alignment of key associations with our position on climate. Our priority is to influence within trade associations, but we may publicly dissent or resign our membership if there is material misalignment on high priority issues. We reviewed 51 of our most significant trade association memberships in 2022. In comparison, 30 memberships were reviewed in our inaugural 2020 report. We found that 41 associations aligned with our climate positions, and 10 were partially aligned – this means we disagreed on some positions or they did not take a public stance. With these 10 groups, we plan to stay as members and continue to make a strong case for action in support of good climate policy. The seven climate positions we used as the basis of this review related to the Paris Agreement, climate science, reducing emissions, carbon pricing, energy efficiency, technology and carbon credits. We plan to provide an update on partially aligned associations in 2023. **New memberships in 2022** As we transition to being an integrated energy company, our trade association memberships are necessarily changing. The associations we joined in 2022, which have fees of $50,000 or more per year, are: y India Hydrogen Alliance (ih2a) – an industry led coalition focused on commercializing hydrogen technology and systems in India. y Global Wind Energy Council (GWEC) – a global trade association for the wind power industry. y Waterstof Nederland – a new Dutch hydrogen association that merges hydrogen-representing bodies currently operating in the Netherlands. Read more including our trade assocations [reviews: bp.com/tradeassociations.](http://bp.com/tradeassociations)

The board-level safety and sustainability committee (S&SC) oversees effective implementation of the sustainability frame and management of health, safety and environmental risks. [...] Oversight of sustainability matters is embedded through our executive-level group sustainability committee, chaired by our EVP, strategy, sustainability & ventures. The committee's remit is to provide oversight, challenge and support in the implementation of bp's sustainability frame and management of potentially significant non-operational sustainability (including climate-related) risks and opportunities. [...] At SVP level, the sustainability forum comprises representatives from each bp entity, provides feedback to the group sustainability committee and aims to deliver alignment and visibility of key sustainability issues. [...] We reviewed 51 of our most significant trade association memberships in 2022. In comparison, 30 memberships were reviewed in our inaugural 2020 report. We found that 41 associations aligned with our climate positions, and 10 were partially aligned – this means we disagreed on some positions or they did not take a public stance. With these 10 groups, we plan to stay as members and continue to make a strong case for action in support of good climate policy. [...] Our annual bonus for all eligible employees, including the bp leadership team, has been linked to a sustainability measure since 2019. The bonus scorecard against which our eligible employees are measured was updated in 2021 to incentivize them through three themes: safety and sustainability (30%), including our sustainable emissions reductions which makes up 15%, operational performance (20%) and financial performance (50%). [...] We expanded the sustainability measures in our long-term incentive plan scorecard for group leaders for 2022-24. This included explicitly linking performance to progress on our net zero operations aim (aim 1).

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Our aim 6 is to more actively advocate for well designed policies that will support net zero. We co-operate and engage with governments, regulators and legislators in the development of proposed policies relevant to our business. Our activities may include direct lobbying on specific policy proposals by bp employees, through broader advocacy via research work or supporting think tanks, to communications activities and advertising.

bp's climate policy positions (see attachment in column 3) set out our high level public positions in response to specific areas of climate policy. This does not seek to be comprehensive. The detail of specific policies and regulations is crucial for their success; new policies and regulations generally need to interact effectively with a range of existing measures, and these interactions can be complex. Each policy maker needs to tailor their policy objectives to the unique circumstances, challenges and opportunities of their country and their specific social, political and economic environment. For these reasons, to achieve the relevant policy objectives while avoiding unintended consequences it is essential that climate policies – like any other policies – are well designed.

bp is a member of many trade associations. Some trade associations engage in lobbying and advocacy on matters they consider important to their members. Positions taken by a trade association on any topic are often a compromise or majority view, arrived at through their decision-making processes. Our Aim 8 is to set new expectations for our relationships with trade associations around the globe. We will make the case for our views on climate change within the associations we belong to and we will be transparent where we differ. And where we can't reach alignment, we will be prepared to leave.

We periodically assess the alignment of key associations with our position on climate. In April 2022 we published our second detailed trade associations review (see attachment in column 3).

The examples that we give in question 12.3(a) of the policies, laws and regulations that may impact climate that we have engaged with, are taken from our global advocacy hub (available at: https://www.bp.com/en/global/corporate/sustainability/our-approach-to-sustainability/policy-and-advocacy/advocacy-activities.html), and do not represent an exhaustive list of engagement activities.

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or climate transition plan?[…]Our aim 6 is to more actively advocate for well designed policies that will support net zero. We co-operate and engage with governments, regulators and legislators in the development of proposed policies relevant to our business. Our activities may include direct lobbying on specific policy proposals by bp employees, through broader advocacy via research work or supporting think tanks, to communications activities and advertising.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes