BHP launches social value framework
Wednesday, June 29th, 2022
BHP has released its new social value framework and 2030 scorecard, which consists of six social value pillars of decarbonisation, environment, Indigenous partnerships, workforce, communities and supply chains.
Making the presentation, BHP’s chief legal, governance and external affairs officer, Caroline Cox, said the scorecard includes a new goal for the environment, which is to create nature-positive outcomes by having at least 30per cent of the land and water that BHP stewards under conservation, restoration or regenerative practices by 2030.
The scorecard also includes a commitment to partner with communities and stakeholders to co-create and implement plans that deliver jointly defined economic, social and environmental outcomes and integrate their views into how we measure success.
“BHP is hardwiring social value into every level of decision-making across our global business, from company strategy and capital allocation to everyday activities at our operations,” she said.
“Our new social value framework and scorecard outline the goals, metrics and milestones against which our investors and stakeholders can measure our progress and performance.
“By embedding social value into the way we do business, we believe we will further strengthen our relationships and access to the best resources, partners, markets and talent to discover and produce the minerals required for global economic development and decarbonisation, which will in turn create competitive advantage.”