We believe BHP can best support policy development by ensuring we meet our own climate 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.
We have an important role to play in helping the world achieve the aims of the Paris Agreement. Part of this involves taking concrete steps to progress towards achieving our operational and value chain greenhouse gas (GHG) emissions targets and goals. It also involves engaging with governments and the other stakeholders in pursuit of policies that support a global transition to net zero.
We engage with governments on climate policy both directly through our own advocacy and indirectly through the advocacy of our industry association memberships. Further information on our approach to direct advocacy is available here, while we detail our approach to indirect advocacy here.
Shareholder and investor engagement
BHP uses a range of formal and informal communication channels to seek to understand and take into account the views of shareholders. We encourage shareholders to make their views known to us. Shareholders can contact us at any time through our Investor Relations team, with contact details available at bhp.com. In addition, shareholders can communicate with us and our registrar electronically.
Throughout the year, BHP engages with investors 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. At the BHP 2021 AGMs, we sought shareholder approval through an advisory vote on our Climate Transition Action Plan 2021. We also facilitated discussions with major institutional investors and proxy advisers on our Climate Transition Action Plan in the lead up to the 2021 AGMs.
Equitable change and transitions
There are communities around the world that rely on mining certain commodities that may therefore be disproportionately impacted by the transition to a low-carbon economy. Solutions will require a multi-stakeholder approach including the local community, investors, financiers, government at all levels and, of course, resource companies such as BHP.
Our approach to equitable change and transition takes into account the Paris Agreement and the International Labour Organiation’s (ILO’s) Just Transition Guidelines and recognises the role of BHP through changes and transitions. The approach to equitable change and transition will inform implementation of our strategy for decarbonisation and adaptation to the potential physical impacts of climate change, as well as apply to the intended closure of NSWEC.
See our Sustainability approach for more information.
Disclosures and reporting
BHP was one of the first companies to align its climate-related disclosures with the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD), of which our Vice President Sustainability and Climate Change, Dr Fiona Wild, has been a member since its inception in late 2015.
We published our Climate Change Report in 2020, and also participate in the CA100+ Net Zero Carbon Benchmark (NZCB), which assesses the world's largest corporate GHG emitters on their progress in the transition to the net zero future. Our TCFD-aligned disclosures and information in support of our NZCB assessment can be found in our Annual Reports.
In September 2021, we published the Climate Transition Action Plan (CTAP), which sets out the steps BHP intends to take to reduce greenhouse gas (GHG) emissions to net zero within our own operations and to pursue net zero in our value chain. The CTAP received approval from 84.9 per cent of shareholders in the ‘Say on Climate’ advisory vote at our AGMs in 2021.
Our most recent climate change reporting can be found in the ‘sustainability links and downloads’ section below.