Shareholders in mining giant BHP have been advised to vote against the company’s carbon emission plans, ahead of its annual general meeting in London next month, according to reports.
In a report shared with investors Glass Lewis, the influential proxy adviser, questioned the scientific basis of BHP’s Climate Transition Action Plan and said there was “room for improvement,” according to the Financial Times which first reported the news.
The world’s biggest mining company has promised to reduce its direct carbon emissions by 30 per cent by 2030, and to become net zero by 2050 – but Glass Lewis said “it is unclear if the company’s current targets are science-based.”
In the report to investors Glass Lewis also wrote that “the company’s target is not aligned with Paris,” despite BHP’s insistence, in its Climate Transition Action Plan, that it supported the movement to a lower carbon world “aligned with the Paris Agreement goals”.
Both BHP and Glass Lewis have been contacted for comment.