Publication ACCR Presentation on BHP AGM 2022
ACCR has filed two advisory shareholder resolutions which will be put to a vote at BHP’s upcoming AGM. The first is seeking that the company advocate for climate policy that is aligned with a pathway of limiting warming to 1.5°C. The second requests that BHP disclose a climate sensitivity analysis, including a 1.5°C scenario, in the notes to its audited financial statements.
In its notice of meeting, BHP has recommended that shareholders vote against our resolutions, despite its own analysis concluding that a 1.5°C scenario creates the most value for shareholders. The company’s arguments are numerous and appear to be conflicting.
Hear ACCR’s rationale for these resolutions, the benefits to shareholders and our response to BHP’s notice of meeting.
This briefing covers:
- BHP’s political influence as Australia’s largest company
- The 1.5°C pathway as the best outcome for shareholder value
- Specific and current advocacy opportunities for BHP in Australia
- Where more disclosure is needed regarding climate change in audited financial statements
- How a 1.5°C sensitivity analysis is consistent with accounting standards
- Momentum towards this accounting approach being embedded across the ASX
Speakers
- Harriet Kater, ACCR Australian Climate Lead
- Alex Hillman, ACCR Lead Analyst
- Sue Harding, Climate Accounting and Audit Project, independent company reporting and governance expert
ACCR’s Investor Brief covering both resolutions is available here.
Publication information
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