Woodside worries shadow BHP AGM

BHP has defended its climate strategy despite involvement in Woodside Petroleum's contended Scarborough LNG project, which has been subject to increasing environmental campaigns.

Speaking at BHP’s virtual annual general meeting on Thursday, Chief executive Mike Henry and chair Ken MacKenzie were questioned over the environmental and financial viability of the project.

Queries came in the wake of a critical report from Conservation Council WA earlier this week, which labelled Woodside’s approvals process for the project “a mess.”

Recent downgrades at Woodside’s Greater Pluto operation and further planned revisions of Woodside assets also fuelled investor concerns.

The executives affirmed they were “comfortable” with the proposed Woodside merger however and said that core approvals were in place ahead of a final investment decision later this year.

BHP chair Ken MacKenzie said BHP and Woodside shared the same long term net zero goals and medium term reductions.

“Even as the world decarbonizes it will still need oil and gas and we are comfortable that woodside is right partner,” Mr MacKenzie said.  

A poll to approve BHP's climate transition action plan was supported by 84.9 per cent of voters. 

BHP has pledged spend up to $US2 billion ($A2.7 billion) to meet its net-zero emissions target by 2050.

BHP shares closed the day at $36.66.