• Connectivity of information
• Stakeholder relationships
• Strategic focus and future orientation

Key observations:

The remuneration report in BP’s 2014 Annual Report provides a comprehensive review of the company's remuneration approach and the awards granted to directors.

The letter from the Chairman explains the company's long-term remuneration policy, overarching principles and shorter-term developments.  The graphic on page 73 depicts how the company’s strategic priorities create long-term shareholder value and reveals the key performance metrics being evaluated in determining both short-term (annual bonus) and long-term (equity plan) director remuneration.  Page 73 includes a table summarizing 2014 performance as compared to targets and discusses how the bonuses for the directors were calculated.   

 Page 82 outlines the way in which the Committee engages with shareholders, highlighted by individual meetings with key shareholders to supplement its established investor relations program.