1、Climate Change Report 2020 Bringing people and resources together to build a better world Our Purpose To bring people and resources together to build a better world. Our Strategy Our strategy is to have the best capabilities, best commodities and best assets, to create long-term value and high retur

2、ns. We are BHP, a leading global resources company. Our Values Sustainability Putting health and safety first, being environmentally responsible and supporting our communities. Integrity Doing what is right and doing what we say we will do. Respect Embracing openness, trust, teamwork, diversity and

3、relationships that are mutually beneficial. Performance Achieving superior business results by stretching our capabilities. Simplicity Focusing our eff orts on the things that matter most. Accountability Defining and accepting responsibility and delivering on our commitments. We are successful when:

4、 Our people start each day with a sense of purpose and end the day with a sense of accomplishment. Our teams are inclusive and diverse. Our communities, customers and suppliers value their relationships with us. Our asset portfolio is world-class and sustainably developed. Our operational discipline

5、 and financial strength enables our future growth. Our shareholders receive a superior return on their investment. Our Charter February 2020 Mike Henry Chief Executive O icer The Climate Change Report 2020 is available at . BHP Group Limited. ABN 49 004 028 077. Registered in Australia. Registered o

6、ffice: 171 Collins Street, Melbourne, Victoria 3000, Australia. BHP Group Plc. Registration number 3196209. Registered in England and Wales. Registered office: Nova South, 160 Victoria Street London SW1E 5LB United Kingdom. Each of BHP Group Limited and BHP Group Plc is a member of the Group, which

7、has its headquarters in Australia. BHP is a Dual Listed Company structure comprising BHP Group Limited and BHP Group Plc. The two entities continue to exist as separate companies but operate as a combined group known as BHP. The headquarters of BHP Group Limited and the global headquarters of the co

8、mbined Group are located in Melbourne, Australia. The headquarters of BHP Group Plc are located in London, United Kingdom. Both companies have identical Boards of Directors and are run by a unified management team. Throughout this publication, the Boards are referred to collectively as the Board. Sh

9、areholders in each company have equivalent economic and voting rights in the Group as a whole. In this Climate Change Report (this Report), the terms BHP, the Company, the Group, our business, organisation, we, us, our and ourselves refer to BHP Group Limited, BHP Group Plc and, except where the con

10、text otherwise requires, their respective subsidiaries as defined in note 13 Related undertakings of the Group in section 5.2 of BHPs Annual Report 2020 available online at . Those terms do not include non-operated assets. This Report covers BHPs assets (including those under exploration, projects i

11、n development or execution phases, sites and closed operations) that have been wholly owned and/or operated by BHP and that have been owned as a joint venture (1) operated by BHP (referred to in this Report as operated assets or operations) during the period from 1 July 2019 to 30 June 2020. Our fun

12、ctions are also included. BHP also holds interests in assets that are owned as a joint venture but not operated by BHP (referred to in this Report as non-operated joint ventures or non-operated assets). Notwithstanding that this Report may include production, financial, greenhouse gas emissions and

13、other information from non-operated assets, non-operated assets are not included in the BHP Group and, as a result, statements regarding our operations, assets and values apply only to our operated assets unless stated otherwise. (1) References in this Climate Change Report to a joint venture are us

14、ed for convenience to collectively describe assets that are not wholly owned by BHP. Such references are not intended to characterise the legal relationship between the owners of the asset. Contents Chief Executive Officer introduction 2 Our Position on Climate Change 3 About this Report 4 Executive

15、 summary 5 1. Governance 9 1.1 Role and responsibilities of the Board 9 1.2 Role and responsibilities of management 11 2. Taking action through our targets, goals and strategies 12 2.1 Portfolio analysis 13 2.2 Reducing our GHG emissions 22 2.3 Partnering across our value chain 28 2.4 Natural climat

16、e solutions strategy 32 2.5 Adaptation strategy 34 2.6 Advocacy strategy 35 3. Risk management 36 3.1 Risk Framework 36 3.2 Climate-related risks 37 3.3 Emerging risks 39 Looking ahead 39 Glossary 42 Forward looking statements This Report contains forward looking statements, including, but not limit

17、ed to: statements regarding trends in commodity prices and supply and demand for commodities; plans, strategies and objectives of management; assumed long-term scenarios; potential global responses to climate change; regulatory and policy developments; the development of certain technologies; the po

18、tential effect of possible future events on the value of the BHP portfolio and the plans, strategies and objectives of management. Forward looking statements may be identified by the use of terminology, including, but not limited to, intend, aim, project, see, anticipate, expect, estimate, plan, obj

19、ective, believe, expect, may, should, will, would, continue or similar words. These statements discuss future expectations concerning the results of assets or financial conditions, or provide other forward looking information. In particular, such statements may include, but are not limited to, state

20、ments that relate to the purpose, goals, targets, plans and objectives of BHP, assumptions made in energy, and other forms of environmental transition scenarios, as well as statements about how we run our business, including our work with contractors and partners. The forward looking statements in t

21、his Report are based on the information available as at the date of this Report and/or the date of the Groups planning processes or scenario analysis processes. There are inherent limitations with scenario analysis and it is difficult to predict which, if any, of the scenarios might eventuate. Scena

22、rios do not constitute definitive outcomes for us. Scenario analysis relies on assumptions that may or may not be, or prove to be, correct and may or may not eventuate, and scenarios may be impacted by additional factors to the assumptions disclosed. Additionally, forward looking statements are not

23、guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results to differ materially from those expressed in the statements contained in this Report. BHP cautions against r

24、eliance on any forward looking statements or guidance. For example, future revenues from our operations, projects or mines described in this Report will be based, in part, upon the market price of the minerals, metals or petroleum produced, which may vary significantly from current levels. These var

25、iations, if materially adverse, may affect the timing or the feasibility of the development of a particular project, the expansion of certain facilities or mines, or the continuation of existing operations. There are a number of other factors that may have an adverse effect on our results or operati

26、ons, including those identified in the risk factors discussed in BHPs filings with the US Securities and Exchange Commission (the SEC) (including in Annual Reports on Form 20-F) which are available on the SECs website at www.sec.gov. Except as required by applicable regulations or by law, BHP does n

27、ot undertake any obligation to publicly update or review any forward looking statements, whether as a result of new information or future events. Forward looking statements speak only as of the date of this Report or the date planning process assumptions or scenario analysis assumptions were adopted

28、, as relevant. Past performance cannot be relied on as a guide to future performance. Agreements for sale of Onshore US On 28 September 2018, BHP completed the sale of 100 per cent of the issued share capital of BHP Billiton Petroleum (Arkansas) Inc. and 100 per cent of the membership interests in B

29、HP Billiton Petroleum (Fayetteville) LLC, which held the Fayetteville assets, for a gross cash consideration of US$0.3 billion. On 31 October 2018, BHP completed the sale of 100 per cent of the issued share capital of Petrohawk Energy Corporation, the BHP subsidiary that held the Eagle Ford (being B

30、lack Hawk and Hawkville), Haynesville and Permian assets, for a gross cash consideration of US$10.3 billion (net of preliminary customary completion adjustments of US$0.2 billion). While the effective date at which the right to economic profits transferred to the purchasers was 1 July 2018, the Grou

31、p continued to control the Onshore US assets until the completion dates of their respective transactions. In addition, the Group provided transitional services to the buyer, which ceased in July 2019. Information in this Report relating to the Group has been presented on a Continuing and Discontinue

32、d operations basis to include the contribution from Onshore US assets prior to completion of their sale, unless otherwise stated. No offer of securities Nothing in this Report should be construed as either an offer or a solicitation of an offer to buy or sell BHP securities in any jurisdiction, or b

33、e treated or relied upon as a recommendation or advice by BHP. Reliance on third party information The views expressed in this Report contain information that has been derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the a

34、ccuracy, completeness or reliability of the information. This Report should not be relied upon as a recommendation or forecast by BHP. BHP Climate Change Report 2020 1 The commodities BHP produces are essential in the daily lives of people around the world. They support global economic development a

35、nd prosperity. BHPs long-term success is dependent on a stable world with sustainable economic growth and on a continued ability to attract people, capital and access to the resources the world needs. This is reflected in our purpose, To bring people and resources together to build a better world, a

36、nd it informs our approach on the critically important topic of climate change. The commitments, actions and insights set out in this report build upon a strong and extended track record of leadership and action on climate change. This has included efforts to reduce greenhouse gas emissions in our o

37、perations, advocacy for effective climate change policy, building resilience into our operated assets and incorporating climate change considerations into our strategic thinking and portfolio decisions. Climate change leadership and actions aligned to the Paris Agreement We are committed to continui

38、ng to reduce emissions in our operations and to our goal of achieving net zero operational emissions by 2050. We are on track to achieve our current short-term target to maintain our FY2022 total operational GHG emissions at or below FY2017 levels (2), while we continue to grow our business. As set

39、out in this report, we are accelerating our efforts and will take the necessary action to reduce our Scope 1 and Scope 2 emissions by at least 30 per cent from FY2020 levels (2) by 2030. We have established agreements for 100 per cent renewable electricity use in our Chilean operations, and for a po

40、rtion of our electricity needs in Australia to also be met by renewables. We established a US$400 million Climate Investment Program to invest more resources in low emissions technologies and other activities that can decarbonise our operations and value chain. While the commodities BHP produces are

41、 essential for the world, we recognise that greenhouse gas emissions are generated in their transport and use. BHP is committed to working with customers, transportation providers and others in the value chain, to reduce the emissions intensity of their processes (Scope 3 emissions). This is all the

42、 more important given that these emissions are significantly higher than those from BHPs operations. The actions we are taking are focused in areas where our support can make the biggest difference. We are further strengthening accountability for climate change leadership within our business. As cli

43、mate change is a material governance issue and a strategic issue, we have reinforced the link between climate change performance measures and executive remuneration. We are committed to lead the evolution of our industry. We have set a Paris-aligned target and goal for decarbonisation of our operati

44、ons. And we have announced goals to drive action not just in our business, but across sectors beyond ours. Not only that, but by seeking to work in partnership with others, we increase the chance that collectively, we achieve the outcome to which we all aspire. And we will continue to advocate for a

45、ction as BHP and in industry associations which have the capacity to play a key role in advancing the development of standards, best practices and constructive policy. Shaping our portfolio to sustainably protect and grow value over time In parallel with taking action to reduce emissions, we must al

46、so be thoughtful about the implications of climate change for BHPs operational and portfolio resilience. We must take a proactive and collaborative approach to adaptation by enhancing the climate resilience of our operated assets, investments, portfolio, supply chain, communities and ecosystems, to

47、achieve mutually beneficial outcomes for our business and stakeholders. We regularly test our portfolio against a range of climate change scenarios, as previously outlined in our report: Climate Change: Portfolio Analysis (2015). In this report, we have set out an assessment of a 1.5C scenario, whic

48、h is aligned to the goals of the Paris Agreement. What these scenarios tell us is that BHPs overall portfolio is resilient and that, in fact, many of BHPs commodities would further benefit from an accelerated decarbonisation pathway. We are already a major producer of copper and nickel and are seeki

49、ng further options in these commodities, which see strengthening demand as the world moves to decarbonise. Potash also sees upside in a decarbonising world. The iron ore and higher quality metallurgical coals that BHP produces are resilient. The world will need more steel for continued economic growth and to build the infrastructure required by decarbonisation. At the same time, steelmakers will need to reduce their emissions intensity, an effort that will be supported in the coming decades by the iron ore and higher quality metallurgical coals that BHP p