According to a release from the company, BHP has established a US$400m Climate Investment Program to develop technologies to reduce emissions from its own operations as well as those generated from the use of its resources.

The BHP CEO, Andrew McKenzie said that, “Over the next five years this program will scale up low carbon technologies critical to the decarbonisation of our operations. It will drive investment in nature-based solutions and encourage further collective action on scope three emissions.”

BHP has also indicated that the investments will be targeted at technology that is aimed at reducing emissions in operations and will help target emissions generated when the commodities produced are turned into products, such as steel. 

BHP has also released the world’s first bulk carrier tender for LNG-fuelled transport for up to 27 million tonnes of its iron ore. 

This will eliminate NOx (nitrogen oxide) and SOx (sulphur oxide) emissions and significantly reduce CO2 emissions along the busiest bulk transport route globally.