By Adria Calatayud

BP PLC said late Wednesday that it will become Qantas Airways Ltd.'s decarbonization strategic partner under an agreement to advance their shared net zero ambitions.

The U.K. energy major said it will work together with Australia's biggest airline on opportunities to reduce carbon emissions in the aviation sector. BP said this is its first decarbonization partnership in the heavy transportation sector.

The companies will explore projects in areas including advanced sustainable fuels, advocacy for further decarbonization in the aviation sector, renewable power solutions and generation, carbon management and emerging technology, BP said.

Qantas and BP have both set ambitions to achieve net-zero carbon emissions by 2050, the U.K. company said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

January 28, 2021 01:44 ET (06:44 GMT)

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