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 Irrational activists want BHP to quit industry groups

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Irrational activists want BHP to quit industry groups Vide
PostSubject: Irrational activists want BHP to quit industry groups   Irrational activists want BHP to quit industry groups Icon_minitimeTue Sep 03, 2019 9:21 pm

The Church of England's pension body and Atlassian co-founder Mike Cannon-Brookes are among shareholders asking mining giant BHP to suspend its membership of industry associations whose actions oppose effective action on climate change.

Irrational activists want BHP to quit industry groups 5335415_BHP_16-9_17047839_1965296_20190903110907b3bcf92-c4d0-493d-875a-7043585d4bc9.jpg_sd_1280x720

The Australasian Centre for Corporate Responsibility and its co-filing shareholders, who between them have about $140 billion in funds under management, want a resolution on the issue up for vote at this year's annual meetings.

BHP has been working to reduce its carbon emissions since the 1990s and says next year it will set a target to decarbonise its operations, but the ACCR say that isn't good enough.

"While BHP positions itself as a climate champion, it continues to fund aggressive and effective lobbying to block climate policy, including via the Minerals Council of Australia and Coal 21," ACCR executive director Brynn O'Brien said.

"BHP is perhaps the most influential company in Australia, and the way it chooses to spend shareholders' money on policy advocacy has real world impacts."

Ms O'Brien said BHP helped fund groups such as the Minerals Council of Australia, APPEA, the Business Council of Australia, the Queensland Resources Council, the Resource Industry Network, and the NSW Minerals Council.

She said they obstructed effective climate policy in Australia.

The five shareholder groups filing the resolution with ACCR are Vision Super; Grok Ventures, the private investment company of Atlassian co-founder Mike Cannon-Brookes and wife Annie; the Church of England Pensions Board; Danish fund MP Pension, and Dutch fund ACTIAM.

They want the shareholder resolution voted on at BHP's annual meetings in London in October and Sydney in November.

ACCR filed a resolution in 2017 asking BHP to review its public policy advocacy on climate change.

It only got nine per cent support, but led to BHP quitting the World Coal Association.

https://au.finance.yahoo.com/news/activists-want-bhp-quit-industry-groups-190011159--spt.html

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