Investor Webinar: Analysing BHP's 2024 Climate Transition Action Plan

On October 2, ACCR hosted two webinars to discuss its recently published analysis of BHP's 2024 CTAP, and help inform investors’ own analysis of the plan and voting considerations ahead of the company's upcoming AGM.
While BHP’s disclosures have improved, its 2024 CTAP falls short on ambition and does not have a capital allocation strategy that matches the scale of the decarbonisation challenge. As a result, ACCR will be voting against this CTAP.
Key discussion items included:
Insights into the green steel technologies available for BHP’s iron ore grade
The company's 1.5°C "scenario" and how it's used to assess asset resilience
The capital allocation required to achieve the BHP’s net zero scope 3 goal
The risks surrounding the company's heavy reliance on CCUS
Insights into BHP’s metallurgical coal forward plans and emissions compared to the IEA's NZE and APS scenarios.
Only available for an investor vote every 3 years, the 2024 CTAP reveals BHP does not yet have a credible decarbonisation pathway, and is therefore insufficiently aligned with the goals of net zero.
Learn more here: www.accr.org.au