- Time period
- January 2003 – December 2003
BP has launched its seventh annual report on the company''s environmental, social and ethical performance. In response to external feedback, it was decided to produce an integrated report that explains the relationship between environmental, social and ethical issues and BP''s business strategy, including many factors relevant to the long-term future of the group.
BP Sustainability Report 2003 is a key part of BP''s contribution to the UN Global Compact and includes references on how BP is living up to the nine principles (see page 39 of the report). This report has been prepared in accordance with the 2002 Global Reporting Initiative Guidelines. Ernst & Young has conducted a review of the content of the Report and certifies that it was prepared against the main principles of the AA1000 Assurance Standard: Materiality, Completeness and Responsiveness (see pages 41-43 of the report).
The report contains detailed coverage of safety issues, specifying how BP''s record on injuries has improved and how the company is working to encourage safer driving. It describes how BP''s thinking developed in 2003 on long-term measures to tackle climate change and outlines actions taken to minimize greenhouse gas emissions. The report also addresses human rights as well as other environmental issues such as sustainable transport and renewable energy.
BP are currently carrying out stakeholder research into how the Sustainability Report 2003, including the Communication on Progress, has been received. The Global Compact principles are integral to the way BP does business and they will continue to report openly on these issues as part of their corporate communications.
- Principles covered
- Principle 1 - Businesses should support and respect the protection of internationally proclaimed human rights
- Principle 2 - Make sure that they are not complicit in human rights abuses
- Principle 3 - Businesses should uphold freedom of association & effective recognition of the right to collective bargaining
- Principle 4 - The elimination of all forms of forced and compulsory labour
- Principle 5 - The effective abolition of child labour
- Principle 6 - Eliminate discrimination in respect of employment and occupation
- Principle 7 - Businesses should support a precautionary approach to environmental challenges
- Principle 8 - Undertake initiatives to promote greater environmental responsibility
- Principle 9 - Encourage the development and diffusion of environmentally friendly technologies
- Principle 10 - Businesses should work against all forms of corruption, including extortion and bribery