BHP cuts green push across iron ore segment, media report says

BHP Group is pulling back on key decarbonisation projects in its Western Australian iron ore operations, slowing a climate strategy the miner had once positioned as central to its long-term growth plans, according to leaked internal documents cited by the Guardian and ABC’s Four Corners.

The documents show the world’s biggest miner shelved a board-approved solar and battery project at its Jimblebar iron ore mine and deferred a system of 500MW solar, wind and battery. BHP also abandoned plans for a lower-emissions iron ore processing facility, that had the potential to prevent 1.7 million tons of emissions a year, according to the report.

Companies across sectors from banking to airlines and energy producers have taken recent steps to dilute commitments to emissions reduction amid rising costs, a lack of available technologies or political pressure. Rio Tinto Group, BHP’s largest competitor, in December lowered its estimated spending through 2030 on decarbonisation to $1 billion to $2 billion, from a previous estimate of as much as $6 billion.

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In response to queries from the Guardian and ABC’s Four Corners, the company said it has reduced emissions by 36% on 2020 levels, while warning that critical technologies for a green transition are not ready to be deployed.

The rollback is likely to intensify scrutiny from investors and environmental groups, who argue that the company’s spending decisions could influence the pace of the nation’s decarbonisation ambitions.

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