Global Insight 15:BHP folds; who’s next?
Global miner BHP is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels, citing people familiar with the matter.
Mining companies worldwide are under growing shareholder pressure to reduce their carbon footprint and take stringent climate actions to cut emissions, as calls for a shift towards cleaner forms of energy accelerate. In 2018, BHP sold its shale business to BP for $10.4 billion. The competitors of BHP, including Rio Tinto, Anglo American, Vale, are selling “unclean” assets such as coal mines and thermal power stations.
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Section of Global Development Strategy.
