What did we do?
BP selected two current or potential corporate customers, and researched how individual business cases of Target Neutral could apply to them. With support from BP’s commercial team and strategic account managers, they used the BDRV Pathways tool to consider the variety of commercial benefits from carbon offsetting and how they supported shareholder value drivers. The Entry Points tool also helped them to engage colleagues within BP, and build a common language around these issues.
The research found that a clear competitive advantage case applied in both cases, and one core value driver was to enhance reputation. Building a business case that strongly links reputation to commercial advantage is much more appealing for potential partners. Other benefits included pre-empting an emerging issue by being a first mover in the offsetting space, and improving employee motivation and retention by being a best in class player.
How did BP benefit from the project?
The BDRV toolkit helped BP to understand and define the value of offsetting with Target Neutral for companies in different sectors in a compelling way. Using the partners’ own business language and being able to show commercial advantage when presenting the business case for offsetting was very beneficial, particularly as many people fail to link sustainable initiatives to the bottom line. By making that connection for them, BP was able to show how Target Neutral could add real value.