This paper explains and analyses the enhanced reporting provided by BP following a shareholder resolution filed and passed in 2015, which directed the company to disclose additional information on areas relevant to climate risk and strategic resilience.

We find that in this first year of enhanced reporting, there is limited evidence indicating that the company is fully engaged with moving onto a new path that will make it resilient in a low carbon world.

This year’s reporting suggests a gap between BP’s current business strategy and the transformative shift required to align with the Paris agreement of limiting global temperature rises to ‘well below 2°C, with an ambition for 1.5'.