However, growth in energy demand creates challenges, since the power sector is already the largest single source of carbon dioxide emissions. And as demand grows so will those emissions.

We believe we need an alternative.

That's why BP has created Alternative Energy - a consolidation of all our low- and zero-carbon activities in the power sector. We're doing this because we believe that solar, wind, hydrogen power and gas-fired power technologies have reached a tipping point where we can create a profitable, high-growth, global business in the course of the next decade.

We know that consumers are increasingly engaged in the environmental debate and many countries are concerned about energy security. So demand for cleaner electricity is out there.

That is why we intend to invest $8bn in the next 10 years.

Our aspiration is to become a world-leading low-carbon power developer by 2015.

We already participate in 12 GW of power generation around the world, so we have experience in this area. And we believe we can now help make a significant reduction in carbon dioxide emissions in the power sector.

BP Alternative Energy has the potential to avoid or eliminate 24mn tonnes of carbon dioxide a year by 2015. That's like making the city of Chicago almost carbon free.

In other words, alternative energy is good business and good environmental practice.

Visit our carbon footprint calculator and find out how your lifestyle choices affect your carbon emissions.