BHP Billiton Plc – Annual report – 30 June 2025
Industry: mining
Operating and Financial Review (extract)
9.8 Climate change
We believe the warming of the climate is unequivocal, human influence is clear and physical climate-related impacts are unavoidable. We recognise the role we play in supporting the net zero transition the world must make.
For our full position on climate change refer to bhp.com/climate
Our disclosures and approach to reporting
Climate Transition Action Plan
In August 2024, we published our second Climate Transition Action Plan (CTAP 2024) that provides an overview of our climate change strategy, commitments, targets and goals and forward-looking plans. Our CTAP 2024 was approved by the Board, with its development and ongoing implementation governed by the Board and its Committees and management. This OFR 9.8 updates certain aspects of our assumptions and plans since our CTAP 2024 and describes our progress in FY2025 against the strategy and our GHG emissions targets and goals, commitments and key metrics. The climate change targets and goals published in our CTAP 2024 are unchanged. Financial Statements note 16 ‘Climate change’ describes certain potential financial statement impacts, where material or relevant, of the assumptions, plans and actions of our climate change strategy and the consideration of climate-related risks in the assessment of significant areas of judgement and estimation in the financial statements.
Our CTAP 2024 is available at bhp.com/CTAP2024
Given the global nature of our business, customers and supply chain, the development of our CTAP 2024 considered the goals of the Paris Agreement and the commitments and policy settings of relevant key jurisdictions at the time. Our global headquarters and some of our assets are located in Australia, which has a Long-Term Emissions Reduction Plan and legislated national targets to reduce Australia’s net GHG emissions to 43 per cent below CY2005 levels by CY2030, and to achieve net zero GHG emissions by CY2050.
We continue to monitor and take into consideration the evolving policy and regulatory landscape applicable to our operations as part of the periodic review by management and the Board of the appropriateness of and our progress towards our GHG emissions targets and goals.
TCFD-consistent disclosures
In accordance with the UK Listing Rules as set by the UK Financial Conduct Authority, we believe our disclosures are consistent with the four recommendations and 11 recommended disclosures of the Task Force on Climate-related Financial Disclosures (TCFD).
The Navigating our disclosures table on this page sets out the TCFD’s recommended disclosures, grouped under the four recommendations, and where our aligned disclosures can be found within this Report (refer to the Our response columns).
To provide additional detail to supplement our TCFD recommended disclosures in this Report, we refer to certain information in our CTAP 2024 (which should be considered in the context of the CTAP 2024 as a whole, together with the updates and our progress in FY2025 provided in this Report), as set out in the Supplementary information column of the Navigating our disclosures table on this page.
For more information on our alignment with other climate-related sustainability and ESG standards refer to the BHP ESG Standards and Databook 2025 available at bhp.com/ESGSD2025
Navigating our disclosures
1. ‘Risks and opportunities’ is the language adopted in the TCFD recommended disclosures, while under our Risk Framework we regard ‘risks’ as comprising both threats and opportunities.
2. Refer to the updates in Pathways to our medium-term target and long-term net zero goal and Key changes to our projected pathway to our medium-term target and potential pathways to our long-term net zero goal since CTAP 2024 in this OFR 9.8.
Accounts examples 