In August 2024, we published our second Climate Transition Action Plan (CTAP 2024) that provides an overview of our climate change strategy, commitments, targets and goals and forward-looking plans. Our CTAP 2024 was approved by the Board, with its development and ongoing implementation governed by the Board and its Committees and management. 

We put the CTAP to a shareholder advisory vote at our 2024 Annual General Meeting and received a 92 per cent vote in favour. 

Since the 1990s, we have set and achieved targets for Scopes 1 and 2 emissions from our operated assets.¹ We call these operational greenhouse gas (GHG) emissions and we are working to extend our track record of delivery through our CTAP 2024.  

While we work to decarbonise our operations, we also seek to support our suppliers and customers to do the same. As Scope 3 emissions relate to their businesses, we cannot directly control them, however we can seek to influence better outcomes through our procurement decisions and the investments and partnerships we choose to pursue.  

The road from ambition to abatement is hard. No business can navigate it alone. In fact, we need industry and government to walk it together to achieve the world’s net zero ambitions. This is why we continue to support government policies aligned with the goals of the Paris Agreement and conduct our advocacy efforts consistent with our Climate Policy Principles.  

Our CTAP 2024 reaffirms our intent to play our part in this global effort – producing more of the essential commodities the world needs to develop and decarbonise; investing to reduce our operational GHG emissions; and collaborating to support lower GHG emissions in our value chain.  

Many of the technologies we will need to achieve our operational GHG emissions long-term net zero goal are not yet ready to be deployed. A pathway between our operational GHG emissions medium-term target in FY2030 and our long-term net zero goal in CY2050 will require a significant technological step change in safety, reliability, operability, commercial availability and economics, and the pace of development of some decarbonisation technology has slowed since we published our CTAP 2024.  

In Figure 1.2 of our CTAP 2024, we published our operational GHG emissions reduction projected pathway to FY2030 and potential pathways between FY2031 and CY2050. The outcomes of our annual planning process since then, reflecting technology delays, have resulted in updates to Figure 1.2 of our CTAP 2024 as described in the BHP Annual Report 2025, Operating and Financial Review 9.8 – Climate change. 

We will continue to actively assess options and partnerships as technology readiness progresses and seek to optimise our plans as we maintain pursuit of our operational GHG emissions long-term net zero goal. We do not expect the technology delays to materially impact our plans to achieve our operational GHG emissions FY2030 medium-term target as we expect Power Purchase Agreements to provide sufficient abatement to meet the target.