BHP aims to be carbon-neutral until 2050
The mining giant is taking steps to decrease carbon emissions worldwide.

BHP (ASX, LON, NYSE: BHP) is working on the details of a revised strategy to reduce the company's operating emissions and diesel consumption that will set specific targets by 2030, Chief Executive Mike Henry said Thursday. The "very concrete measures" due to be announced on September 10 are part of the world's largest mining company’s broader commitment to become carbon neutral by 2050. Henry told shareholders that he will also announce concrete steps to reduce the company's Scope 3 emissions (generated by end users). An important consideration when you consider that BHP is the largest exporter of coking coal for steel production and number three in iron ore, the raw material for steel. The heavily polluting process of steel making involves adding coking coal to iron ore to make the alloy and is responsible for up to 9% of global greenhouse gas emissions. Henry noted that some of the projects that will help the company reduce emissions will be funded through a $ 400 million climate investment program announced in 2019. Henry also highlighted some of the steps the company has already taken to become a "greener" company. This includes carbon capture and storage and other innovations such as direct air capture. BHP announced four power deals last year aimed at making its Chilean operations, including the Spence plant and Escondida, the world's largest copper mine, run entirely on renewable energy. The giant, based in Melbourne, Australia, also wants to eliminate the use of water from aquifers in Chile by 2030. Spence, a water desalination plant with a capacity of 1,000 liters per second, was to support a $ 2.5 billion expansion. The project, which was originally scheduled to be completed by the end of this year, was recently postponed to early 2021 because of the impact of the coronavirus pandemic, BHP said in April. A second seawater desalination plant with a maximum capacity of 2,500 liters per second was put into operation in Escondida in 2017. Further upgrades and the connection of the original desalination plant to this conveyor system will further increase the overall capacity. The Chilean environmental agency said in July that it would hire Escondida to extract more water than its permits would allow for nearly 15 years.





