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BHP’s $1.3b of climate projects more important than dividends – The Australian Financial Review
Spending to meet BHP’s new emissions targets will be a higher priority than dividends in the company’s capital allocation framework.
Rio Tinto has also established partnerships with Chinese steel mills to reduce the scope 3 emissions linked to its iron ore, but unlike BHP, Rio has declined to set a target.
BHP will push the shipping industry even harder, seeking a 40 per cent reduction to emissions intensity by 2030.
The new scope 3 targets were accompanied by a refresh of BHP’s scope 1 and scope 2 targets (those generated by the company’s mines and power supplies) with BHP promising to reduce emissions by at least 30 per c…
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