BHP’s Context-Based Water Targets for Sustainable Water Management
By Strategic Research Institute on Jun 14, 2023 11:19 am
On the occasion of World Environment Day, BHP, a leading global resources company, is proud to unveil their latest endeavor: asset-level context-based water targets (CBWT). In contrast to the widely accepted metric for tracking greenhouse gas emissions, measuring water risk and performance lacks a single agreed-upon standard. Recognizing this gap, BHP has developed context-based water targets that take into account the local context of their operated assets, aligning with the United Nations Global Compact CEO Water Mandate guide.
These new targets are designed to conserve and enhance local water resources, ensuring their resilience to sustain healthy ecosystems, cultural significance, and economic activities. BHP's commitment to setting context-based water targets stems from their diverse range of operations, spanning various environments such as deserts, sub-tropical regions, and marine habitats. Anne Dekker and Mischa Traynor, Joint Vice Presidents Environment, emphasize the collaborative nature of this initiative, with inputs from stakeholders and a thorough assessment of water-related risks and opportunities.
The context-based water targets encompass actions to improve operational water performance, including enhancing water efficiency. Moreover, they promote actions that benefit stakeholders in the region, such as sharing environmental data on water and biodiversity with governments and other companies. BHP plans to implement these targets at their Western Australia Iron Ore operations, with a focus on prioritizing at least 50% of surplus water for beneficial use, thereby improving the sustainability of regional groundwater resources and generating social value.
BHP acknowledges that the approach to setting meaningful and effective corporate targets, both for water and nature conservation, is evolving. As the global community advances in its understanding, BHP is proud to embrace preferred practices and take practical steps towards achieving positive on-the-ground impact. These context-based water targets align with BHP's 2030 Healthy Environment goal, as they contribute to the protection and restoration of water-dependent ecosystems near their operated assets.
Earlier this year, BHP also released its Water Resources Situational Analysis (WRSA) reports, further showcasing their dedication to transparent and accountable water management practices. To learn more about BHP's water initiatives and access the WRSA reports and CBWT, visit their website.