We conduct public interest financial analysis on the most profound economic transformation since the industrial revolution: the transition from fossil fuels to clean energy.

The campaign to cap the rebate for the big miners at $50 million is gathering broad support among the crossbench, ALP branches and the unions, as well as environmental groups. There is also pressure on Climate and Energy Minister Chris Bowen to tighten up the use of offsets by the big miners in the upcoming review of the Safeguard Mechanism. If Fortescue can rapidly bring down its emissions in the Pilbara, BHP will have less justification for relying on offsets. Read more

Clean Energy Finance has estimated that BHP received about $627 million in fuel tax credits in the 2024 financial year, Rio Tinto $416 million, Fortescue $309 million and Hancock Prospecting $128 million, which is paid as compensation for the taxes paid on diesel used on private roads. 4 Corners reported on Monday that leaked BHP documents showed the mining giant expected to cut emissions by just 1 per cent by 2030, and an internal memo warned its decarbonisation delays could pose a risk if there were “changes in diesel prices”, such as if the tax credit were “revoked”. Read more

In May 2025, the company reported that “solutions are still being sought to achieve net zero”, although it has delayed its renewables rollout along with its adoption of electric trucks and trains. Tim Buckley of Climate Energy Finance has commented that BHP is not on track for its net zero 2050 goals and that its “ actions are not aligned with the science”. Read more