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https://reneweconomy.com.au/up-is-not-down-bhp-in-spotlight-as-epic-decarbonisation-walk-back-revealed/>
"A major expose on
ABC Four Corners last night, in collaboration with
The
Guardian, revealed for the first time irrefutable evidence of BHP reversing
its commitments to meaningfully cut emissions in a credible timeframe at its
world-dominant Pilbara iron ore business.
The egregious walk-back, as the climate crisis escalates, was laid out in
hundreds of pages of leaked internal company records.
We’ve been saying it for years – BHP’s record of (in)action on clean energy and
climate is pathetic and an indictment of its board and CEO leadership. And
there it was in black and white.
What BHP does matters. It is the world’s largest mining company by market
capitalisation, generating revenues of US$51bn in the last financial year with
underlying earnings of US$26bn and a US$18bn pre-tax profit to its
shareholders.
To achieve this, BHP spewed 8.7 million tonnes of greenhouse gas emissions in
FY2024-25. As the
Guardian pointed out: more than 80 individual nations.
Andrew Mackenzie, BHP’s CEO until 2019, said publicly that decarbonisation was
a strategic imperative, with failure to act posing an existential risk.
Its Pilbara decarbonisation plans were urgent and comprehensive, and involved
rapid electrification of locomotives and haulage trucks, and a massive buildout
of solar to reduce diesel and gas dependence.
It had plans to deploy US$3bn in decarbonisation investment by 2030 to underpin
its climate targets and secure its licence to operate.
Then it all went to the proverbial."
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
