Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  BHP Group Ltd    BHP   AU000000BHP4

BHP GROUP LTD

(BHP)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

BHP : investors file resolution to cut funding for Australian coal lobby groups

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/03/2019 | 11:17pm EDT
FILE PHOTO: Visitors to the BHP booth speak with representatives during the PDAC convention in Toronto

MELBOURNE (Reuters) - Several BHP Group shareholders, including the Church of England pension fund, are recommending the company suspend its membership in industry groups that advocate for policies inconsistent with the Paris climate change agreement.

The resolution was filed on Tuesday by the Australasian Centre for Corporate Responsibility (ACCR) ahead of BHP's annual general meetings (AGM) in London and Sydney, the ACCR said in a statement.

Co-filers included the Church of England Pensions Board and Grok Ventures, the private investment vehicle of Australian tech billionaire Mike Cannon-Brookes, as well as institutional investors that combined hold A$140 billion (77.02 billion pounds) under management.

"While BHP positions itself as a climate champion, it continues to fund aggressive and effective lobbying to block climate policy, including via the Minerals Council of Australia and Coal21," said ACCR Executive Director, Brynn O'Brien.

BHP Chief Executive Officer Andrew Mackenzie said in July that the world's biggest miner would invest $400 million (325.81 million pounds) over five years to reduce emissions, as it also became the first miner to pledge to tackle pollution caused when customers use its products.

ACCR said the inconsistency between BHP's climate-aware positioning and "the oppositional advocacy of its industry associations" was especially acute in Australia, the world's biggest coal exporter.

Industry groups like Minerals Council of Australia have repeatedly called for coal friendly policies, including government subsidies for coal-fired power stations, it said.

Minerals Council of Australia chief executive Tania Constable said in a statement to Reuters on Wednesday that the group supported a transformation to a low emissions global economy.

Australian mining businesses were working to reduce emissions from minerals extraction and processing, investing in low emissions technologies and increasing the user of renewable energy in their operations, she said.

The ACCR lodged a similar resolution in 2017 that saw BHP review its membership of more than 20 industry associations and quit the World Coal Association.

At the time, BHP pledged to review its membership of any groups that advocated for "material" differences in policy positions to its own that could impact public policy and where it did not otherwise see sufficient membership benefit.

BHP has said that it can accomplish more with industry groups by being members but that it would keep its membership of groups and their policy positions under review.

BHP's upcoming London AGM is on Oct. 17 while its Sydney AGM is Nov. 7.

(Reporting by Melanie Burton; editing by Christian Schmollinger and Richard Pullin)

By Melanie Burton

Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LTD 0.43% 37.13 End-of-day quote.8.00%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BHP GROUP LTD
09/10Woodside seeks buyers for gas assets in Australia, Canada
RE
09/06BHP : Resolutions under section 249N of the Corporations Act for consideration a..
AQ
09/06BP aims to sell more U.S. crude to Asia, boost LNG supplies in early 2020s
RE
09/05Australia's Port Hedland iron ore shipments to China jump 10% in August
RE
09/05BHP : urges investors to veto resolution against coal lobbying
RE
09/05BHP Group Doesn't Endorse Resolution to Split with Lobby Groups
DJ
09/05BHP GROUP LTD : Ex-dividend day for final dividend
FA
09/04BHP Investors Call for Split From Lobby Groups on Climate
DJ
09/03BHP : investors file resolution to cut funding for Australian coal lobby groups
RE
09/03Chinese Steel Slowdown Slams Iron-Ore Prices
DJ
More news
Financials (USD)
Sales 2020 46 237 M
EBIT 2020 18 714 M
Net income 2020 11 294 M
Debt 2020 9 838 M
Yield 2020 5,75%
P/E ratio 2020 11,3x
P/E ratio 2021 13,4x
EV / Sales2020 2,88x
EV / Sales2021 2,96x
Capitalization 123 B
Chart BHP GROUP LTD
Duration : Period :
BHP Group Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BHP GROUP LTD
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 25,44  $
Last Close Price 25,53  $
Spread / Highest target 12,8%
Spread / Average Target -0,37%
Spread / Lowest Target -20,2%
EPS Revisions
Managers
NameTitle
Andrew Mackenzie CEO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Daniel Malchuk President-Americas Minerals Operations
Steve Pastor President-Petroleum Operations
Mike Henry President-Minerals Australia Operations
Sector and Competitors
1st jan.Capitalization (M$)
BHP GROUP LTD8.00%123 628
BHP GROUP PLC11.19%123 628
RIO TINTO LIMITED18.11%92 842
RIO TINTO PLC18.65%92 842
ANGLO AMERICAN PLC13.61%34 131
GRUPO MEXICO S.A. DE C.V.12.78%18 360