BHP Expects to Spend US$4 Billion on Emissions Reduction to 2030, Executive Says

By Rhiannon Hoyle

BHP Group Ltd., the world's largest miner by market value, expects to spend roughly US$4 billion on cutting its greenhouse gas emissions through to 2030, an executive said Tuesday.

The figure is at the top end of earlier estimates by BHP that it could spend between US$2 billion-US$4 billion on operational decarbonization projects over that period.

BHP's chief legal, governance and external affairs officer, Caroline Cox, made the remark to investors as she announced the miner's new so-called social value framework and scorecard, which includes goals on nature improvements and partnerships with communities and indigenous groups.

She said BHP has cut greenhouse gas emissions from its operations by 20% since fiscal year 2020, and that it continues to work with suppliers and customers to reduce so-called Scope 3 emissions generated outside of its mine sites.

Write to Rhiannon Hoyle at [e-mail]

(END) Dow Jones Newswires

06-28-22 0414ET