The British company **BP** has taken a [radical turn in its environmental policy](https://noticiasambientales.com/medio-ambiente/trump-quiere-revertir-la-proteccion-de-especies-para-avanzar-en-la-explotacion-del-petroleo/) by abandoning a **climate strategy** that was once considered ambitious. The company announced a new approach that focuses on **hydrocarbons**.
The new strategy aims to increase **investments in oil and gas** to revitalize its declining profits and improve returns for shareholders.
“We will increase our investments and our hydrocarbon production to generate high-margin energy in the coming years,” said Murray Auchincloss, CEO of BP, in a statement. He also mentioned that [investments in the energy transition](https://noticiasambientales.com/innovacion/empleos-verdes-las-demandas-y-oportunidades-de-la-transicion-energetica/) towards **renewable sources** will be more selective.
Since 2020, BP had stood out for its commitment to carbon neutrality, but in the last two years, it has significantly reduced its **sustainability goals**. In December, the company announced its intention to decrease its investments in **clean energy**.
## Increase in hydrocarbon production and reduction of sustainable projects
Among the detailed measures, BP aims to [increase its hydrocarbon production by 2030](#), abandoning its previous goal of reducing it by 25% compared to 2019. Additionally, the company will allocate $10 billion annually to oil and gas projects, double the originally planned amount, while reducing investments in the energy transition to between $1,500 and $2,000 million annually.
The company also announced the sale of assets worth $20 billion before 2027, which could include the **Castrol lubricants division**.
These decisions come after a 97% decrease in the company’s net profits over the last year. In this context, BP has faced pressure from investor groups such as the Bluebell fund, which has called for adjustments to what they consider unrealistic goals in **renewable energies**.
## Reactions and criticisms of BP’s change in focus
The organization **Greenpeace** described BP’s new direction as evidence that fossil fuel companies “cannot or do not want to be part of the **solution to the climate crisis**,” according to Charlie Kronick, the organization’s climate advisor.
On the other hand, recent reports indicate that the investment fund Elliott Management, known for pressuring **strategic changes** in the companies it invests in, has acquired a significant stake in BP, which could influence future corporate decisions.
Meanwhile, the European Commission and other climate actors have expressed concern over the **reduction in sustainability commitments**, considering the urgency of addressing climate change.
## Examples of hydrocarbons
**Hydrocarbon compounds** (a compound of hydrogen and carbon) can be [naturally present](#) and many of them can be **man-made** and are **contaminants** that can be found in rainwater. Hydrocarbons can be very toxic at low levels and can cause cancer and birth defects.
Examples include: **coal, insulating oils, tar, gasoline or diesel fuel, hydraulic fluids, motor oils, lubricants, oils and greases,** or result from the burning of wood, garbage, and other products.
In many cases, hydrocarbon pollution presents a rainbow-like sheen and a strong smell that floats on water or on street surfaces.
Do you already know our YouTube channel? Subscribe!
