BHP and shareholders share green lobbying dilemma

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BHP and shareholders share green lobbying dilemma
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Aberdeen Standard and others want the world's biggest miner to cut ties with business groups opposing Paris climate goals. BHP argues change can be promoted within the industry too. It's a quandary familiar to fossil fuel investors. ClaraDFMarques

The Australasian Centre for Corporate Responsibility said on Oct. 10 that investors representing some $5.4 trillion in assets would vote to back a shareholder resolution calling on BHP to suspend its membership of groups whose lobbying activities are inconsistent with the goals of the Paris Climate Agreement. BHP’s London annual general meeting is on Oct. 17.

Shareholders who have backed the resolution include Aberdeen Standard, Calpers, AXA Investment Managers and the Church of England Pensions Board. BHP says it is already conducting a review of its industry association memberships, updating a previous review completed in 2017.

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