The demands are part of resolutions submitted to BHP by the Australasian Center for Corporate Responsibility (ACCR) on behalf of shareholders, asking the miner to “proactively advocate for an Australian policy consistent with the objective of the Paris Agreement to limit the warming of the planet to 1.5C”.
Shareholders also requested that from financial year 2023, the notes to BHP’s financial statements present a climate sensitivity analysis, including a scenario aligned with limiting warming to 1.5C.
The resolutions come as businesses around the world are under pressure to adopt climate plans, with votes closely watched even though the resolutions are not binding. BHP is aiming for net-zero emissions by 2050, but has faced reluctance from shareholders who fear some of its long-term plans lack detail.
The miner, on the other hand, also refrained from setting a target due to uncertainty about the evolution of technology.
“BHP remains a member of industry associations which have a toxic influence on Australia’s climate policy. , responsible for the climate (Australia) the ACCR.
“BHP must go beyond its industry associations by positively advocating for an ambitious policy,” they added.
The resolutions will be submitted for consideration at BHP’s 2022 Annual General Meeting.