Climate Change Report and Briefing
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Issued by: |
BHP Group Plc
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Date: |
10 September 2020
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To: |
London Stock Exchange JSE Limited
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For Release: |
Immediately
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Contact: |
Helen Ratsey +44 (0) 20 7802 7540
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BHP Group Plc - Climate Change Report and Briefing
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UK Listing Authority Submissions
The following document has today been submitted to the FCA National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism:
- BHP Climate Change Report
- BHP Climate Change Briefing Presentation
The documents may also be accessed via BHP's website: bhp.com
The webcast for the presentation can be accessed at:
https://edge.media-server.com/mmc/p/te5decth
BHP Group Plc Registration number 3196209
LEI 549300C116EOWV835768 Registered in England and Wales
Registered Office: Nova South, 160 Victoria Street, London SW1E 5LB United Kingdom
A member of the BHP Group which is headquartered in Australia
NEWS RELEASE
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Release Time |
IMMEDIATE |
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Date |
10 September 2020 |
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Release Number |
12/20 |
BHP climate change briefing
BHP today provided an update on its progress on climate action, new climate commitments, and how it integrates climate change into corporate strategy and portfolio decisions.
BHP's climate change approach focuses on reducing operational greenhouse gas emissions, investing in low emissions technologies, promoting product stewardship, managing climate-related risk and opportunity, and partnering with others to enhance the global policy and market response.
BHP supports the aim of the Paris Agreement to limit global warming to well below 2°C above pre-industrial levels, and pursue efforts to limit warming to 1.5°C.
BHP has been active in addressing climate risks for more than two decades, and has already established its long-term goal of achieving net zero operational (Scope 1 and 2) emissions by 2050 and its short-term target of maintaining operational emissions at or below adjusted FY2017 levels by FY2022, using carbon offsets as required.
In the past year, BHP has made good progress. The Escondida and Spence copper mines in Chile will move to 100 per cent renewable energy by the mid-2020s, and last week BHP awarded a new renewable energy contract for its Queensland Coal assets, and the world's first LNG-fuelled Newcastlemax bulk carrier tender.
BHP's climate change briefing and 2020 climate change report, also published today, outline how the company will accelerate its own actions and help others to do the same. Today's update sets out:
- A medium-term target to reduce operational greenhouse gas emissions by at least 30 per cent from adjusted FY2020 levels by FY2030, using carbon offsets as required.
- Scope 3 actions to contribute to decarbonisation in our value chain.
- Strengthened linking of executive remuneration to delivery of BHP's climate plan.
- Insight into the performance of BHP's portfolio in a transition to a 1.5°C scenario.
BHP Chief Executive Officer, Mike Henry, said: "I'm pleased today to show how we are accelerating our own actions and helping others to do the same in addressing climate change. We see ourselves as accountable to take action. We recognise that our investors, our people and the communities and nations who host our operations or buy our products have increasing expectations of us - and are responsive to these.
"Our approach to climate change is defined by a number of key requirements. Our actions must be of substance. They must be real, tangible actions to drive emissions down. We must focus on what we can control inside our business, and work with others to help them reduce emissions from the things that they control. To create long-term value and returns over generations, we must continue to generate value and returns within the strong portfolio we have today, while shaping our portfolio over time to benefit from the megatrends playing out in the world including decarbonisation and electrification.
"Our portfolio is well positioned to support the transition to a lower carbon world aligned with the Paris Agreement. It includes commodities that are essential for global economic growth and the world's ability to transition to, and thrive in, a low carbon future. Climate change action makes good economic sense for BHP and enables us to create further value."
Further information on BHP can be found at: bhp.com
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Authorised for lodgement by: Caroline Cox Group General Counsel & Company Secretary
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Media Relations
Email: media.relations@bhp.com |
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Investor Relations
Email: investor.relations@bhp.com |
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Australia and Asia
Gabrielle Notley Tel: +61 3 9609 3830 Mobile: +61 411 071 715
Europe, Middle East and Africa
Neil Burrows Tel: +44 20 7802 7484 Mobile: +44 7786 661 683
Americas
Judy Dane Tel: +1 713 961 8283 Mobile: +1 713 299 5342 |
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Australia and Asia
Tara Dines Tel: +61 3 9609 2222 Mobile: + 61 499 249 005
Europe, Middle East and Africa
Elisa Morniroli Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
Americas
Brian Massey Tel: +1 713 296 7919 Mobile: +1 832 870 7677
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BHP Group Limited ABN 49 004 028 077 LEI WZE1WSENV6JSZFK0JC28 Registered in Australia Registered Office: Level 18, 171 Collins Street Melbourne Victoria 3000 Australia Tel +61 1300 55 4757 Fax +61 3 9609 3015 |
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BHP Group plc Registration number 3196209 LEI 549300C116EOWV835768 Registered in England and Wales Registered Office: Nova South, 160 Victoria Street London SW1E 5LB United Kingdom Tel +44 20 7802 4000 Fax +44 20 7802 4111 |
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