CEO Andrew Mackenzie has announced (in a news release of yesterday, July 23, 2019) a range of new measures aimed at evolving BHP’s response to climate change.
Speaking in London, Mr Mackenzie said BHP will:
- Establish a US$400m Climate Investment Program to develop technologies to reduce emissions from our operations as well as those generated from the use of our resources.
- Establish a new medium-term, science-based target for scope one and two emissions in line with the Paris Agreement.
- Strengthen the link between executive remuneration and emissions performance from 2021.
- Develop a new climate portfolio analysis report in 2020 to evaluate the potential impacts of a broader range of scenarios and a transition to a “well below” two degree world.
“We require a considered and orderly transition to a lower carbon world, in which resource companies like BHP have both critical expertise and a key role to play,” Mr Mackenzie said.
“We must take a product stewardship role for emissions across our value chain. And commit to work with shippers, processors and users of our products to reduce scope three emissions.”