The push by the Australasian Centre for Corporate Responsibility (ACCR) for BHP Group Ltd (ASX:BHP) to immediately review the advocacy of its industry associations and suspend membership of groups found to be lobbying inconsistent with the Paris Agreement through COVID-19, has kept the pressure on lobbyists with a 22.4% vote in support of the resolution.
Commenting on the vote today, Dan Gocher, Director of Climate and Environment, said:
“Last week, we saw BHP take a long overdue but welcome step by suspending its membership of the Queensland Resources Council, because of its brazen attempt to influence Australian democracy.
“Despite telling its shareholders for three years that suspension of membership of any industry association was simply not workable, last week BHP did just that.
“With this vote, investors have demonstrated to BHP that they remain focused on the impact of its industry associations on both Australian democracy and on climate action.
“The advocacy by key BHP industry associations throughout the COVID-19 pandemic has been fundamentally at odds with the Paris Agreement’s goals. They have demanded taxpayer-funded subsidies and fast-tracked approvals for new fossil fuel developments, and an aggressive deregulation agenda.
“This is nothing short of predatory behaviour, seeking to make the most of the economic crisis brought on by the COVID-19 pandemic.
“Shareholders must keep up the pressure to ensure that BHP’s industry associations cease to be an obstacle to climate action.”