AUSTRALIA – Melbourne-based BHP Group has announced a five year, US$400-million program to develop technologies to fight climate change at its own operations as well as those generated from the use of its resources.
BHP has pledged to establish new science-based emissions targets in line with the Paris Agreement. The company already has a short term goal to cap 2022 emissions at 2017 levels, and a long term goal of net-zero emissions by the middle of the century.
A new climate portfolio analysis report is under development, due in 2020. The report will look at potential impacts of a broad range of climate impacts across multiple scenarios. This knowledge will be used to transition to a “well below” two degree world.
Emissions performance and executive remuneration will be linked. From 2021, this link will be used to reinforce the importance and responsibility of reducing emissions as a business.
BHP CEO Andrew Mackenzie said, “Over the next five years this program will scale up low carbon technologies critical to the decarbonisation of our operations. It will drive investment in nature-based solutions and encourage further collective action on … emissions.”
Click here to read Mackenzie’s speech or watch the webcast at www.BHP.com.