Engage in Social Corporate Responsibility
BP has recently taken on much more corporate social responsibility, especially when it comes to the restoration of the Gulf Coast region.
BP took responsibility for its role in the disaster and shortly after the spill it began working with State and Federal trustees through the Natural Resource Damage Assessment to find the long term effects on the environment as a result of the spill. This information has now been used to find early and long term restoration projects.
BP has already begun working on some of these early projects such as the Alabama Dune Restoration Cooperative Project, Louisiana Lake Hermitage Marsh Project, Mississippi Artificial Reefs Project etc.
After the spill the economy of the Gulf coast was also greatly harmed and BP has engaged in many projects to help restore the economy such as promoting tourism along the Gulf Coast, helping the seafood industry recover, developing communities in the region, and finally giving compensation to legitimate claims that were affected by the spill.
By exerting a noticeable amount of effort to fix the problems it has caused, BP has done a lot to improve its public image.
BP also looks to help the environment by continuing to develop alternative energy resources for the growing demand of energy from the world´s population.
In 2005, BP made a commitment to spend 8 billion dollars on alternative energy alternative energy and since 2006 it has committed more than 2 billion dollars to biofuel research. In addition, BP is the principal owner of wind power facilities in the United States with interests in 16 wind farms across nine states.