BHP predicts minor rise in carbon emissions for ’24

BHP Group, the world’s largest listed miner, anticipates a “small increase” in its operational carbon emissions this financial year, an executive disclosed on Wednesday.

However, the company remains dedicated to its goal of reducing operational greenhouse gas emissions by at least 30 per cent from 2020 levels by 2030, as stated by Vice President for Climate Graham Winkelman during an investor briefing.

To achieve this, BHP is enhancing its use of solar power and gradually decarbonising its trucking fleet. However, the miner faces challenges, noting that its path to net-zero emissions will not be straightforward due to growth and technological hurdles.

BHP has faced pressure from investors to set targets for reducing emissions from its customers, especially in steelmaking, which accounts for about 7 per cent of global carbon emissions.

However, BHP argues that these emissions are beyond its direct control. Instead, it aims to aid the steelmaking industry in developing technologies and pathways that could achieve a 30 per cent reduction in emissions intensity, with broader adoption expected post-2030.

Additionally, BHP plans to support a 40 per cent reduction in emissions intensity for shipping its products.

The company relies on emerging technologies to meet these objectives, as highlighted by Dan Heal, Vice President of Operational Decarbonisation at BHP’s Australia business. Carbon capture, utilisation, and storage (CCUS) is part of the emissions reduction roadmap for nine of the world’s top ten steelmakers.

Attribution: Reuters.