BHP to invest US$400m to address climate change

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.”

Read the announcement and his speech on at BHP’s website. 

Published by

Luís Chambel

Exploration & Research Mining Engineer, MSc Engineering Geology, MBA, PhD European Engineer -EUR ING; Euro Geologist - EURO GEOL