BHP Group Ltd (ASX: BHP) shares finished trading on Friday down 1.7%.
The S&P/ASX 200 Index (ASX: XJO) mining giant closed trading at the share price of $45.94.
That's today's price action for you.
Now here's the latest effort from BHP to reduce its greenhouse gas emissions.
Image source: Getty Images
How is the ASX 200 miner cutting emissions?
BHP shares might not get an overnight lift from an influx of ESG investors.
But the miner remains committed to cutting its operational greenhouse gas emissions by at least 30% by 2030, relative to its 2020 emissions levels.
And with some 40% of operational emissions stemming from its diesel-powered equipment in 2020, BHP reported it's trialling the use of renewable diesel made from Hydrotreated Vegetable Oil (HVO).
The renewable diesel is supplied in collaboration with British energy giant, bp. It will be used to run trucks and other mining equipment at BHP's Western Australian Yandi iron ore mine.
"About 40% of BHP's operational greenhouse gas emissions come from using diesel fuel, and this is a core focus of our decarbonisation strategy," BHP Western Australia iron ore asset president Brandon Craig said.
"Ultimately, our aim is to have fully electric trucking fleets at our sites," Craig added. "But alternative fuels like HVO may help us reduce our emissions in the meantime while the electrification transition takes place."
bp President Australia Frederic Baudry said:
Globally, bp plans to increase its investment in low carbon energy. Forging strategic partnerships with companies like BHP enables bp to create solutions that satisfy the increasing demand for lower carbon fuels in sectors like mining and transport.
BHP reported that the HVO is being sourced from more sustainable feedstocks, like waste products.
The initial trial is scheduled to run for three months.
How have BHP shares been performing?
As you can see on the chart below, BHP shares are up 1% so far in 2023. Longer term, shares in the ASX 200 miner have gained 55% over a period of five years.
