Evaluate the environmental costs incurred by BP plc in its oil exploration and production activities. Classify environmental costs as prevention, detection, or remediation costs and discuss their financial and non-financial implications for BP. Assess BP's environmental management practices and recommend strategies for minimizing environmental liabilities and enhancing sustainability.

Values:

• Prevention Costs: $5,000,000
• Detection Costs: $2,000,000
• Remediation Costs: $10,000,000