Green economy

BP results 'slightly better than expected'

BP earlier announced it had raised its dividend and announced the completion of a $1.5bn share buyback programme on the last day in office for chief executive Bob Dudley.

The shareholder boosts came as the London-based company reported a 26% drop in fourth-quarter profit which beat forecasts and $2.7bn in charges.

Stuart Lamont, investment manager at Brewin Dolphin, said: "BP's results have come in slightly better than expected, but they are still a reflection of the challenging environment for oil and gas companies – the effect of which we also saw with Royal Dutch Shell’s update last week. Debt levels are a concern for now, remaining as they do above the 30% mark.

"However, there are some positives to be taken from the update including the progress of BP’s divestment programme, an increase in production, good reliability, and greater diversification."

Sustainable aviation fuels 'will be big game changer'

Today Programme

BBC Radio 4

Aircraft
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Heathrow boss John Holland-Kaye says the "big game changer" for greener air transport is sustainable aviation fuels.

"They will create a whole new industrial sector for the UK," he says.

"Energy from waste, but energy also from combining carbon and hydrogen.

"This is a way the government can start to regenerate parts of the north and the west which desperately need new investment and this is a chance to really supercharge that investment into the UK economy."

"We've got to remember - the enemy is carbon, not aviation."

Aviation net zero plan 'groundbreaking' says Heathrow boss

Today Programme

BBC Radio 4

John Holland-Kaye
Getty Images

The government wants the UK to get to net zero carbon emissions by 2050, but what about airlines?

Today, the aviation industry is promising it will meet that target.

Heathrow airport chief executive John Holland-Kaye says:

"This is a groundbreaking plan, this is the first time aviation anywhere in the world has committed to net zero emissions."

'Making a product last longer goes against business'

BBC Radio 5 Live

Greg Winston is the director of Elite Contract Furniture, which makes mattresses.

He said a couple of years ago his firm realised that the way the way mattresses are built across the world is not sustainable.

"They are used for seven years, and they go straight into landfill. Sometimes they are ripped apart, the metal is taken out, and the fillings are burnt for energy, which is still not sustainable.

"So we're really looking at the way we make our mattresses, and working out how we can make them last longer, which really goes against manufacturing principles, because you really want, when you're manufacturing you obviously get repeat business, but when you're making a product last longer it goes against business, the way business works, but obviously we're trying to change that."

"Obviously we'll have less business, upcoming, repeat business, but we're looking at add-ons and extras, and making sure the customer is comfortable, and hopefully we'll get extra business from markets that we're not currently in."