BHP, Cargill set new visions for decarbonisation

Mining and metals giant BHP and agri-food multinational Cargill have unveiled ambitious new decarbonisation targets, in a sign that hard-to-abate sectors are beginning to bolster their climate ambitions. BHP’s new commitment will see the company develop a science-based target for its Scope 1 (direct) and Scope 2 (energy-related) emissions within the next two years. The company is already targeting a short-term goal of capping its absolute carbon emissions at 2017 levels through to 2022, with the science-based target due to offer more long-term direction. In order to drive progress on both its existing and upcoming targets, BHP has launched a five-year climate investment programme to spur the development and uptake of low-emission mining technologies. The fund consists of $400m (£324m) of the company’s own money. BHP will additionally begin linking emission reductions to executive pay from 2021 – a move which has already been taken by the likes of Sandvik and Royal Dutch Shell – and undertake 2C scenario analysis ahead of its inaugural climate portfolio analysis report, due to be published in 2020. Cargills new low-carbon commitments, meanwhile, will see the company target a 30% reduction in greenhouse gas emissions (GHG) intensity across its beef supply chain by 2030. The target, called “BeefUp Sustainability”, has been set against a 2017 baseline and will see the business focusing on four key areas: grazing management, feed production, innovation and food waste reduction. As a first step, Cargill will expand its partnership with The Nature Conservancy (TNC) to further address water use, wildlife preservation and carbon sequestering at cattle ranches. Cargill will also begin collaborating more closely with individual farmers and ranchers to demonstrate how grazing management planning and adaptive management improves sustainability and financial outcomes...MORE