The minute
- BHP’s underlying attributable profit rose 30% year-on-year to $13.2 billion in FY2026, with copper making up over half of operating earnings for the first time
- Operational Scope 1 and 2 emissions rose 1% to 9.4 million tonnes of CO2e, even though that is still 33% below the company’s FY2020 baseline
- BHP now estimates it will need 3 to 5 million tonnes of carbon credits to offset the residual emissions it cannot eliminate on the way to its 2050 net-zero target
Why it matters: A 30% profit jump next to a 1% emissions increase is the exact pattern regulators and investors are trained to scrutinize: growth that outpaces decarbonization, with carbon credits now doing the job that operational change hasn’t caught up to yet.
BHP says battery-electric mining systems won’t see broad deployment until after 2030, and the company expects to need at least $4 billion in incremental spending in that decade just to keep the decarbonization plan on track. via Carbon Credits