BHP to Set New Carbon Goals, Including for Customers, Says CEO

By Rhiannon Hoyle

SYDNEY--BHP Group Ltd. (BHP.AU) will next year set new goals for cutting carbon emissions from its operations, and those of its customers, which will include stronger links to executive pay, its chief executive said.

BHP will also establish a five-year, $400 million climate investment program for low-emissions technologies aimed at eliminating emissions through the resources supply chain, said Andrew Mackenzie.

"We must take a product stewardship role for emissions across our value chain and commit to work with shippers, processors and users of our products to reduce Scope 3 emissions," Mr. Mackenzie said in a statement Tuesday. "These emissions are generated as customers transport, transform and use our products to serve the needs of billions of people and they are almost forty times higher than the emissions from our own operation," he said.

BHP will set a new medium-term target for emissions from its own operations, on top of an existing short-term goal to cap 2022 emissions at 2017 levels and a long-term one for net-zero emissions by the middle of the century. The company will also strengthen links between emissions performance and executive pay, Mr. Mackenzie said.

Write to Rhiannon Hoyle at [e-mail]

(END) Dow Jones Newswires

July 23, 2019 05:26 ET (09:26 GMT)

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