BHP CEO Mike Henry has called for a “small set of common standards” covering environmental, social, and governance (ESG) to underpin the access to capital required to unlock investment in the critical minerals needed for the transition to electric vehicles and renewable energy generation. Speaking at the International Energy Agency’s (IEA’s) inaugural critical minerals summit in Paris, France, Henry argued that there were currently too many standards for the same ESG dimensions.
has called for a “small set of common standards” covering environmental, social and governance to underpin the access to capital required to unlock investment in the critical minerals needed for the transition to electric vehicles and renewable energy generation.
Using copper as a case study, BHP estimated that about $250-billion in growth capital to 2030, in addition to sustaining capital, was needed to support the decarbonisation needed for a “plausible 1.5 degrees scenario”. “We need a small set of common standards, upheld by all, and where performance against those standards is a greater and increasing determinant of access to capital.”Miners, he added, should be granted access to resources based on the value they create, including for host communities and First Nations peoples.
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