BP’s Head of Sustainability Steps Down, No Successor Named

BP’s top sustainability executive, Giulia Chierchia, is set to depart from the company on June 1 as the oil giant’s financial performance has declined, with first-quarter profits for 2025 dropping to $1.4 billion from $2.7 billion the previous year. This signifies the end of BP’s ESG era, which was once seen as a leading example of the oil industry’s shift towards sustainability. The departure of Chierchia, who was instrumental in BP’s now-abandoned sustainability strategy, is part of the company’s move away from green energy and ESG goals. The decision not to replace Chierchia reflects BP’s efforts to streamline its operations for quicker decision-making. The company’s shift back to focusing on oil and gas is driven by financial pressures and shareholder demands, including activist hedge fund Elliott Management’s call for a reversal of low-carbon investments and changes to the board. BP plans to cut spending on renewable projects, increase asset sales, and reduce capital spending by $500 million in 2025. The company aims to sell off $20 billion in assets by 2027. This shift marks the end of BP’s ESG era, as it faces challenges from investors and a return to traditional fossil fuel operations.