BHP

BHP to update on climate actions on Sept. 10

Credit: REUTERS/CHRIS HELGREN

BHP Group will update on its climate commitments on Sept. 10, Chief Executive Officer Mike Henry told an investor call on Thursday, ahead of its annual general meetings in October.

MELBOURNE, Aug 25 (Reuters) - BHP Group BHP.AX will update on its climate commitments on Sept. 10, Chief Executive Officer Mike Henry told an investor call on Thursday, ahead of its annual general meetings in October.

* The update will include targets to cut operational emissions by 2030 by reducing its use of diesel and moving to a higher proportion of renewable power as part of a broader commitment to reach net zero emissions by 2050.

* BHP will also announce a series of "very tangible actions" related to scope 3 emissions, or the emissions of its customers. BHP sells both iron ore and coal for steel-making, which is among the world's most polluting industries.

* It will also update its portfolio assessment, taking into account Paris agreement goals, Henry said. BHP said this month that it would sell or demerge some of its coal mines, including the Mount Arthur thermal coal mine in Australia.

* Executive remuneration will also include an element tied to climate change actions, Henry said.

* Some of these changes will be funded in part by its climate change fund that will spend $400 million over five years, which BHP announced last year.

* BHP's Australian annual general meeting takes place on Oct 14, and its London AGM on Oct. 15.

(Reporting by Melanie Burton; Editing by Anil D'Silva)

((melanie.burton@thomsonreuters.com Twitter: @MelanieMetals; +613 9286 1421; Reuters Messaging: melanie.burton.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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