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Climate change

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BHP's Climate Transition Action Plan (CTAP) 2024

Our CTAP 2024 sets out our climate change strategy, commitments, targets and goals, and forward-looking plans. It continues our multi-decade focus on climate and underscores our commitment to becoming a more sustainable and resilient business. This is important work that will help set us up to grow long-term value for shareholders.

BHP Climate Transition Action Plan 2024pdf8480121 download
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Our latest Climate Transition Action Plan (CTAP)

Our CTAP 2024 sets out our climate change strategy, commitments, targets and goals, and forward-looking plans.
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Operational GHG emissions (Scopes 1 and 2 emissions from our operated assets)

We have a medium-term target and long-term net zero goal for our operational GHG emissions.
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Value chain GHG emissions (Scope 3 emissions) 

We have medium-term goals and long-term net zero targets and a long-term net zero goal for our value chain GHG emissions.
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Carbon credits and offsetting

While we prioritise structural abatement, we acknowledge carbon credits are likely to be needed to comply with regulations and offset hard-to-abate GHG emissions.
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Climate policy advocacy

We are committed to conducting our advocacy on government climate policy (direct and indirect) consistent with the goals of the Paris Agreement. We translate this into action by using our Climate Policy Principles.
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Our portfolio in a 1.5°C scenario

We present our new 1.5°C scenario and describe the pathway it charts, recognising the level of shareholder and other stakeholder interest in the resilience of our portfolio should global ambitions be realised in the future.
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Transition to a net zero economy

As governments, institutions, companies and society increasingly focus on addressing climate change, the potential increases for a non-linear and/or more rapid transition and the subsequent impact on threats and opportunities.  
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Physical risk and adaptation 

We are continuing our studies to assess physical climate-related risks and to inform potential adaptation responses to prioritise safety and maintain productivity of our operations.
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Equitable change and transition 

We are committed to working with communities where we operate in periods of change and transition to achieve long-term mutual value.

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Capability and culture

We continue to build capability and culture at appropriate levels across our organisation to enable us to deliver on our climate change strategy and GHG emissions targets and goals.
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Climate and nature interdependency

The management of climate-related risks (threat and opportunities) is inextricably linked to effective stewardship of nature and vice versa.

Our position on climate change

Our GHG emissions targets and goals

Governance and oversight, engagement, disclosure and performance  

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  • Governance and oversight 

    Climate change and climate transition planning is a material governance and strategic issue for our Board and management. 

     

    The Board is informed through board papers, progress updates from management, material risks reports, presentations from external subject matters experts and reports from the chair of each Board Committee following Committee meetings. Climate-related topics are also incorporated into Director induction programs, ongoing training, external speakers and site visits to assist the directors in their oversight. 

     

    The Board will monitor and oversee progress against our GHG emissions targets and goals and the key commitments detailed in our CTAP 2024. The Sustainability Committee, with assistance from the management-level Sustainability and ESG Steering Committee, will oversee BHP’s implementation and performance against our CTAP 2024 and climate-related matters.

  • Engagement 

    Achieving the goals of the Paris Agreement will require supportive policy across jurisdictions, globally. We believe BHP can best support policy development by ensuring we meet our own GHG emissions targets, goals and strategies, continuing to make the case for the economic opportunities arising from the energy transition, and focusing on those policy areas where we are likely to have the greatest ability to influence change. 

     

    Policy advocacy  

     

    We are committed to conducting our advocacy on government climate policy (direct and indirect) consistent with the goals of the Paris Agreement. We translate this into action by using our Climate Policy Principles in how we advocate (direct) and how we encourage industry associations where we are a material member to advocate (indirect). More information on our approach to direct advocacy is available here, while we detail our approach to indirect advocacy here.

     

    Shareholder engagement  

     

    We use a range of formal and informal communication channels to seek to understand and take into account the views of shareholders.  

     

    Throughout the year, we engage with shareholders through results roadshows and other investor engagement meetings, including on key issues such as climate change, industry associations and social value. BHP also hosts live webcasts and Q&A sessions with our senior leaders for shareholders to directly ask questions of management, including on corporate governance and ESG matters, steel decarbonisation technologies, strategy, finance and operating performance.  

     

    We also facilitate and encourage shareholder participation at our Annual General Meeting (AGM). The AGM provides an update for shareholders on our performance and offers an opportunity for shareholders to ask questions and vote.  

  • Disclosure

    We are committed to providing transparency over our climate-related governance, risks (threats and opportunities), strategy, commitments, and GHG emissions targets and goals, enabled through regular and comprehensive disclosures. 

     

    We also recognise the importance of investors and other stakeholders being able to understand the potential impacts on BHP’s financial position from climate-related risks (threats and opportunities). In our Financial Statements in the BHP Annual Report 2024, we capture potential financial statement impacts, where material or relevant, of the assumptions, plans and actions of our climate change strategy and the consideration of climate-related risks in the assessment of significant areas of judgement and estimation required for the presentation of the financial statements.

     

    Our most recent climate-related disclosures can be found in the: 

    Additional climate-related disclosures are available in the Sustainability case studies, organisational boundary, definitions, disclaimers and downloads section at the bottom of this page. Prior year versions of some of these documents, together with previous climate-related reports are available on the Past reports page.

  • Performance

    Our most recent climate-related performance data can be found in the: 

Case studies, BHP Insights and presentations

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Our latest Decarbonisation Roundtable

A closer look at decarbonisation in our operations and value chain
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Our latest BHP ESG Standards and Databook

Detailed disclosures on our energy consumption and reported Scopes 1, 2 and 3 emissions inventory.

Prospects
Pathways to Decarbonisation

A series of episodes that provide a deeper-dive into how the world might transition to reach net zero.

Sustainability case studies, organisational boundary, definitions & disclaimers, and downloads

Prior year versions of some of the listed documents are available on the Past reports page.