BP dropping its green ambitions is a travesty. But that’s exactly how capitalism works

Protesters outside BP HQ in St James’s Square, London, after BP’s announcement it would slash renewables, 26 February 2025. Photograph: David Levene/The Guardian

It would be very easy to be sharply critical of BP, given its sudden volte-face on its environmental commitments. Under pressure from a shareholder, Elliott Management, it has abandoned the green ambitions it announced in 2020 and pivoted squarely back to an overwhelming focus on oil and gas.

While easy, it would arguably be unhelpful, and perhaps even misguided. Because viewed in the round, this isn’t really about BP: it’s about capitalism at large, and its inability to respond to the climate crisis in the manner we need.