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		</div><p>The new boss of BP has promised to fundamentally “reinvent” the oil giant as he pledged the company would become carbon neutral by the middle of the century.</p>
<p>Bernard Looney, who took the top job last week, said that his business would aim to get to net-zero by 2050 – the same target that was adopted by the UK Government last year.</p>
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<p>“The world’s carbon budget is finite and running out fast; we need a rapid transition to net-zero. We all want energy that is reliable and affordable, but that is no longer enough. It must also be cleaner,” Mr Looney said.</p>
<p>However, critics were quick to point out that the company’s announcement left many unanswered questions and contained little detail on how to reach BP’s aims.</p>
<p>“There is nothing ambitious about a plan that is simply not credible. BP’s net-zero pledge looks like an attempt to grab some positive headlines by a new CEO, but with little of substance to show how it will achieve these grand claims,” said Murray Worthy at Global Witness, an environmental charity.</p>
<p>Mr Looney will hope to leave his mark on the century-old business after taking over from American Bob Dudley last week.</p>
<p>In his first major announcement as chief executive, he said that BP – one of the world’s oil supermajors – will eliminate the 55 million tonnes of carbon dioxide equivalent that it emits into the atmosphere each year.</p>
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<p>The net-zero policy will also cover carbon in the oil and gas that it produces, around 360 million tonnes of carbon equivalent.</p>
<p>“This is what we mean by making BP net-zero. It directly addresses all the carbon we get out of the ground as well as all the greenhouse gases we emit from our operations,” Mr Looney said.</p>
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