Slide 1: BHP Climate Transition Action Plan 2024
BHP CLIMATE ACTION TRANSITION PLAN 2024 Bringing people and resources together to build a better world
Slide 2: Important notice
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Important notice The Climate Transition Action Pla
Slide 3: Contents
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Contents Important notice 2 Resilience in our 1.5°
Slide 4: Important information about this CTAP
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Important information about this Climate Transitio
Slide 5: Introduction
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Introduction AmessagefromBHPChair,KenMacKenzie,and
Slide 6: A message from the Chair and CEO
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 AmessagefromBHPChair,KenMacKenzie,andBHPChiefExecu
Slide 7: Our portfolio changes and highlights of climate strategy delivery
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our portfolio changes and highlights of our climat
Slide 8: Our climate change strategy and this CTAP at a glance
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our climate change strategy and this CTAP at a gla
Slide 9: Our climate change strategy and this CTAP at a glance continued
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our climate CTAP at change a glance strategy and t
Slide 10: Operational GHG emissions
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Operational GHG emissions (Scopes 1 and 2 emission
Slide 11: Our target and net zero goal for operational GHG emissions
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our target and net zero goal for operational GHG e
Slide 12: Pathway to our medium-term target
Pathway to our medium-term target continued Risks to our medium-term target The ‘range of uncertainty’, as shown in Figure 1.1 on the previous page, reflects the potential range of applied risking factors (based on assessments, such as technology readiness levels) and options to increase the scale o
Slide 13: Pathway to our long-term net zero goal
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our target and net zero goal for operational GHG e
Slide 14: How we plan operational GHG emission reductions in a dynamic environment
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Spotlight How we plan operational GHG emission red
Slide 15: Our areas of focus to reduce operational GHG emissions
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our areas of focus to reduce operational GHG emiss
Slide 16: Fugitive methane emissions and measurement methods
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our areas of focus to reduce operational GHG emiss
Slide 17: Industry collaboration
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our areas of focus to reduce operational GHG emiss
Slide 18: Influences on operational GHG emissions target- and goal-setting
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Spotlight InfluencesonouroperationalGHGemissionsta
Slide 19: Value chain GHG emissions
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Value chain GHG emissions (Scope 3 emissions) Net
Slide 20: Our net zero goal for value chain GHG emissions
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our net zero goal for value chain GHG emissions (S
Slide 21: Value chain GHG emissions continued
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our net zero goal for value chain GHG emissions (S
Slide 22: Steelmaking: Longer-term industry pathways
Steelmaking: Longer-term industry pathways For the world to transition to a net zero economy and produce the steel needed to meet the demands of increasing urbanisation, population growth and energy transition infrastructure, widespread deployment of near zero emissions steelmaking technology is nee
Slide 23: Steelmaking: Longer-term industry pathways continued
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Steelmaking: Longer-term industry pathways continu
Slide 24: Steelmaking medium-term goal
Our pipeline of projects spans a wide range of process routes and levels of technological maturity. Our medium-term goal is to support industry to develop steel production technology capable of 30 per cent lower GHG emissions intensity relative to conventional blast furnace steelmaking, with widespr
Slide 25: Steelmaking decarbonisation program
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Steelmaking: Our Scope 3 emissions goal to support
Slide 26: Steelmaking case studies 1 and 2
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Case study #1 Case study #2 Optimising carbon capt
Slide 27: Steelmaking case studies 3 to 6
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Case study #3 Case study #4 Case study #5 Case stu
Slide 28: Direct suppliers net zero target
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Direct suppliers: Our Scope 3 emissions net zero t
Slide 29: Shipping goal and net zero target
Shipping: Our Scope 3 emissions goal to support GHG emissions intensity reduction and net zero target Our medium-term goal is to support 40 per cent GHG emissions intensity reduction of BHP-chartered shipping of BHP products by CY2030, from a CY2008 baseline. Our long-term net zero target is to achi
Slide 30: Shipping goal and target continued
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Shipping: Our Scope 3 emissions goal to support GH
Slide 31: Portfolio
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Portfolio We are positioning our portfolio of comm
Slide 32: Our portfolio strategy
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our portfolio strategy Our strategy is to responsi
Slide 33: Scenarios
Scenarios Scenarios highlight different hypothetical pathways for the future and are not necessarily what we or others expect to happen. We use scenarios to explore different themes or end states to stress test business decisions and portfolio resilience. Among the scenarios we use are climate scena
Slide 34: Resilience in our 1.5°C scenario
Resilience in our 1.5°C scenario Our portfolio remains resilient under our 1.5°C scenario. The net present value of our portfolio under our 1.5°C scenario is approximately the same as under the current base case of our planning range, indicating we would be resilient in an accelerated transition to
Slide 35: Copper, nickel, uranium and potash in our 1.5°C scenario
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Copper, nickel, uranium and potash in our 1.5°C sc
Slide 36: Nickel, uranium and potash in our 1.5°C scenario
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Copper, nickel, uranium and potash in our 1.5°C sc
Slide 37: Steelmaking in our 1.5°C scenario
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Steelmaking, iron ore and steelmaking coal in our
Slide 38: Iron ore and steelmaking coal in our 1.5°C scenario
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Steelmaking, iron ore and steelmaking coal in our
Slide 39: Climate policy advocacy
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Climate policy advocacy We are committed to the pr
Slide 40: Our approach to policy advocacy
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our approach to policy advocacy Governments have a
Slide 41: Our recent and planned policy engagements
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our recent and planned policy engagements Our rece
Slide 42: Physical risk and adaptation
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Physical risk and adaptation We are continuing our
Slide 43: Our approach to physical climate-related risk
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our approach to physical climate-related risk As t
Slide 44: Potential physical climate-related risks
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our approach to physical climate-related risk cont
Slide 45: Management of physical risk; community climate resilience in Northern Chile
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our management of physical climate-related risk Ca
Slide 46: Equitable change and transition
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Equitable change and transition We aim to ensure c
Slide 47: Our approach to equitable change and transition
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our approach to equitable change and transition Sp
Slide 48: Equitable transition for our Mt Arthur Coal mine
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Case study Equitable transition for our Mt Arthur
Slide 49: Enabling delivery
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Enabling delivery Our governance Our management, r
Slide 50: Our governance
Climate change and climate transition planning is a material governance and strategic issue for our Board and management. Board reporting The Board met 16 times during FY2024 with climate-related issues regularly on the agenda for Board meetings, including reviewing and approving public sustainabili
Slide 51: Our management, remuneration and organisational capability
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our management, remuneration and organisational ca
Slide 52: How we manage climate-related risk
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 How we manage climate-related risk (threats and op
Slide 53: How we manage capital
How we manage capital Decision evaluation and capital allocation Our Capital Allocation Framework is a fundamental mechanism for determining the amount and timing of investment in the progression of our climate change strategy and the delivery of this CTAP, while remaining well-positioned to maximis
Slide 54: How we manage carbon credits
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 How we manage carbon credits How we may use carbon
Slide 55: Additional information
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Additional information Our Transition Plan Taskfor
Slide 56: Our Transition Plan Taskforce alignment
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our Transition Plan Taskforce alignment When devel
Slide 57: Definitions and key details for GHG emissions targets and goals
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 DefinitionsandkeydetailsforourGHGemissionstargetsa
Slide 58: Definitions: value chain medium-term goals
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 DefinitionsandkeydetailsforourGHGemissionstargetsa
Slide 59: Definitions: value chain long-term net zero targets
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 DefinitionsandkeydetailsforourGHGemissionstargetsa
Slide 60: Definitions: long-term net zero targets continued
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 DefinitionsandkeydetailsforourGHGemissionstargetsa
Slide 61: Our 1.5°C scenario assumptions and signposts we monitor
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our 1.5°C scenario assumptions and the signposts w
Slide 62: Our 1.5°C scenario compared to benchmarks
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Our 1.5°C scenario compared to benchmarks Table 8.
Slide 63: Independent assurance report
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Independent assurance report Independent Limited A
Slide 64: Notes
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Notes 1 Includes achievement of the following targ
Slide 65: Notes continued
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Notes continued 14 Funding planned by BHP in the n
Slide 66: Glossary
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Glossary Abbreviations Terms ACCU Australian Carbo
Slide 67: Glossary continued
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Glossary continued Carbon capture Carbon dioxide e
Slide 68: Glossary continued
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Glossary continued Lower carbon feedstock/fuel (fo
Slide 69: Glossary continued
Operational Value chain Climate policy Physical risk Equitable change Enabling Additional BHP Contents Introduction GHG emissions GHG emissions Portfolio advocacy and adaptation and transition delivery information Climate Transition Action Plan 2024 Glossary continued Scope 3 emissions Sustainabilit
Slide 70: BHP bhp.com
BHP bhp.com SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BHP Group Limited Date: August 27, 2024 By: /s/ Stefanie Wilkinson Name: Stefanie Wilkinson