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UPDATE 1-BHP to steer mining lobby groups' climate change policies

Fri, 14th Aug 2020 11:17

(Adds comment from NSW Minerals Council)

MELBOURNE, Aug 14 (Reuters) - BHP Group said on
Friday it will closely monitor the work of industry associations
to ensure they match its climate position on keeping the world's
warming to less than 2 degrees Celsius.

The world's largest listed miner has faced increasing
pressure from investors worried that some mineral lobby groups,
particularly in Australia, are promoting coal in contravention
of the goals of the Paris climate pact, and have urged BHP to
stop funding them.

BHP, which quit the World Coal Association in 2018, said it
will publish annually a list of material association memberships
and disclose in real time if any of the associations breach its
global climate policy standards.

"We welcome this effort to ensure trade associations remain
in step with their more forward-thinking members,” said Thomas
O’Malley, Global Head of Corporate Governance at HSBC Global
Asset Management and co-lead of the Climate Action 100+
engagement with BHP.

BHP also said industry groups it supports should not
advocate in favour of Australia's use of Kyoto carryover
credits, a controversial accounting method that would allow
Australia to use its old carbon credits from the 1992 Kyoto
Protocol to meet Paris targets.

Last year, BHP said it was reviewing its membership of four
industry associations including the New South Wales Minerals
Council due to concerns about their climate and energy policies.

The NSW Minerals Council in June promoted 21 coal mines as a
key employment driver. It said in a statement that its policies
reflected the views of all members.

"BHP is an important member... and we will seek to progress
BHP's request in consultation with our board and the executive
committee which includes BHP."

The Minerals Council of Australia said it welcomed BHP's
findings and would work with the miner and state associations to
progress the key issues raised.
(Reporting by Melanie Burton; Editing by Lincoln Feast, Kirsten

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