BHP

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BHP is the trading entity of BHP Billiton Ltd and BHP Billiton plc, an Anglo-Australian multinational mining, metals and petroleum dual-listed public company headquartered in Melbourne, Victoria, Australia.
Founded in 1885, BHP ranked as the world's largest mining company in 2017, based on market capitalization, and was Australia's 3rd-largest company by revenue, which "almost tripled between 2004-2012."
BHP Billiton was formed in 2001 through the merger of the Australian Broken Hill Proprietary Company Ltd (BHP) and the Anglo–Dutch Billiton plc, forming a dual-listed company.
In 2017, some Billiton assets were severed and rebranded as South32, while a scaled-down BHP Billiton became BHP.

Top 50 worst GHG Emitters: CDP-Worldwide-horiz.svg Carbon Majors Report[1]

Climate Policy Rating:[2] InfluenceMap  D
Whilst supporting a 'technology neutral' approach to emission reductions, BHP has opposed renewable energy policy in Australia, lobbying for a repeal of state-based Australian renewables targets in 2017, and not supporting post-2020 national renewables targets. Although BHP left the World Coal Association in Apr.2018, it retains membership with two highly oppositional lobby groups: the US Chamber of Commerce and Minerals Council of AustraliaWikipedia-W.svg.

Corporate Political Engagement Rating:[3] Transparency International    C  

Articles

  • Aug.18.2020: BHP ditches thermal coal as profits slide. Announced plans to exit production of polluting thermal coal. Thermal coal is burnt in power stations and is increasingly out of favour among investors because it is one of the biggest drivers of climate change. BHP said it was looking to sell or demerge its two interests in thermal coal: the wholly-owned New South Wales Energy Coal operations in Australia, and its 33% stake in the Cerrejón mine in Colombia. It also plans to divest or demerge its BHP Mitsui Coal operations, which produce low-quality coking coal in Australia, so it can focus on “high quality coking coals”. BHP produces commodities including iron ore, coal, copper and oil and gas, with operations primarily in Australia and the Americas. Emily Gosden, The Times.
  • Nov.02.2018: It was a disaster on an almost inconceivable scale, then the world moved on. The Samarco dam collapse. This is Paracatu in south-eastern Brazil, a riverside town destroyed by BHP and Vale SA in Nov.2015. A collapsed iron ore mine tailings dam disgorged ~34m cubic metres of mining waste into the environment. The torrent of fine-grained mud killed 19 people, wiped several townships off the map, polluted the entire stretch of the river, then destroyed the fishing grounds 633km downstream on either side of the river mouth. The companies claimed the mud was composed only of crushed iron ore residues and harmless silicates. A UN report immediately showed this to be a lie; the slurry contained toxic heavy metals and other chemicals. Faced with the financial consequences of killing whole towns and deluging a river basin with mine wastes, BHP and Vale have pursued a strategy of loss-minimisation so efficient that it challenges even the most basic conceptions of justice. Their first cut-out is to hide behind the shell of the company they each hold a 50% stake in to run their mines – Samarco – as an independently run, limited liability firm. The second cut-out was the establishment of the Renova Foundation, as part of the 2016 settlement, to take control of the assessment and disbursement of compensation and provide a further arms-length distance to BHP and Vale. Renova is entirely controlled by the two companies, with a handful of local representatives sidelined in advisory subcommittees that Renova quite freely ignores. Scott Ludlam, The Guardian.

References

  1. ^ New report shows just 100 companies are source of over 70% of emissions. Groundbreaking ‘Carbon Majors’ research finds 100 active fossil fuel producers including ExxonMobil, Shell, BHP Billiton and Gazprom are linked to 71% of industrial greenhouse gas emissions since 1988. Download the Report here. CDP, Jul.10.2018.
  2. ^ The A-List of Climate Policy Engagement. Which global companies lead in strategic lobbying for the ambitions of Paris? Rankings measure how a corporation or trade association behaves towards 2°C aligned climate and energy policy. Influence Map, Apr.2018.
  3. ^ Corporate Political Engagement Index 2018. The new index of 104 multi-national companies, many of whom regularly meet with govt, has found nearly 75% are failing to adequately disclose how they engage with politicians. Only one company received the highest grade, with the average grade being "E" – representing poor standards in transparency. Transparency International UK, Nov.2018.