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The executive team worked with the board in 2018 to understand the implications of the transition to a low carbon economy. They reviewed the BP Energy Outlook, which looks at projected energy trends over the next two decades, and discussed the strategic direction of the group.
Supported by dedicated committees, our executive team oversees BP's performance in a wide range of areas:
Executive pay is linked to performance with safety, reliable operations and financial performance accounting for one third of executive bonuses. Tier 1 process safety events and recordable injury frequency are the two safety performance measures for executive reward.
Progress against our strategic priorities accounts for 20% of the longer-term share awards for our group chief executive and chief financial officer. Many performance measures, including those related to gas, renewables, venturing and renewables trading, contribute to this.