Climate change and the group’s emissions targets. BHP is targeting flat emissions, in absolute terms, off the group’s 2006 levels. Thermal coal which produces the bulk of the emissions remains a key Tier 1 asset to BHP. While management has no intention to divest from these assets, they remain resolute on finding ways to reduce its carbon footprint.
Environmental impacts of its water usage. The company has also started a water stewardship program and is expected to publish a report in September 2018 highlighting its understanding of the risks and impacts surrounding this valuable resource.
Governance concerns surrounding BHP’s handling of various sponsorships around the 2008 Beijing Olympics. The actions of the firm could have been perceived as attempts to bribe certain parties. Management acknowledged that record keeping could have been managed a lot better and has as a consequence, paid a $25m fine to the authorities related to this.
Other matters addressed in the meeting included steps to prevent future disasters like Samarco; issues related to certain components of its remuneration policies; the impacts of proposed mine closures and the risks around investing in more challenging countries like Ecuador.