BHP to invest USD 400 Mn to address climate change

(Image Courtesy: BHP)

BHP CEO Andrew Mackenzie has announced a range of new measures aimed at evolving BHP’s response to climate change.

Speaking in London, 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,” he added.

Sea News, July 24