Climate change disclosures, TCFD, GRI, mining

BHP Billiton Plc – Annual report – 30 June 2023

Industry: mining

Operating and Financial Review (extract 1)

Reporting standards and frameworks

We commit to a number of sustainability frameworks, standards and initiatives and we disclose data both as required by law and according to the requirements of those frameworks, standards and initiatives. This is detailed in the BHP ESG Standards and Databook 2023.

The BHP ESG Standards and Databook 2023 is available at bhp.com/sustainability

In FY2023, we engaged with government, standard setting regulatory bodies and organisations on new standards or updates to existing standards and investor-led initiatives including providing feedback to:

  • the Global Reporting Initiative (GRI) on the Mining Sector Standard exposure draft
  • the Taskforce on Nature-related Financial Disclosures (TNFD) Forum
  • the International Sustainability Standards Board (ISSB)
  • the Australian Government’s initial consultation on climate-related financial disclosure

Operating and Financial Review (extract 2)

6.12 Climate change

Our position

Our position on climate change continues to be shaped, broadened and strengthened by our strategic interests and the dynamic global response.

We believe:

  • warming of the climate is unequivocal, the human influence is clear and physical climate-related impacts are unavoidable
  • the world must continue to increase both the levels of ambition and pace of greenhouse gas (GHG) emission reductions to meet the aims of the Paris Agreement
  • demand for renewable and low to zero GHG emission energy and lower GHG emission technologies is likely to grow at unprecedented rates as the world seeks to meet the aims of the Paris Agreement while supporting responsible global economic development, including progress on the United Nations Sustainable Development Goals
  • commodities and materials we produce underpin this transition and are critical to achieving global climate ambitions
  • a circular economy plays an important role in reducing GHG emissions associated with the extraction and use of mining products
  • an acceleration of global effort to drive energy efficiency is a critical element in avoiding, reducing and removing GHG emissions
  • policies to encourage rapid action should be implemented in an equitable manner to address competitiveness concerns, achieve lowest cost abatement and support equitable change and transition

For the full statement of our position and more information on our actions on climate change refer to Our position at bhp.com/climate