Insights

BHP (ASX:BHP) share price struggles amid renewed climate pressure

BHP shares are in the red, instead of being in the green.
The post BHP (ASX:BHP) share price struggles amid renewed climate pressure appeared first on The Motley Fool Australia. –

The BHP Group Ltd (ASX: BHP) share price is slipping amid calls for the company to strengthen its adherence to the Paris Agreement.

The calls were put forward by the Australasian Centre for Corporate Responsibility (ACCR) on behalf of BHP shareholders as a movement to be considered at BHP’s annual general meeting. The ACCR is a shareholder advocacy group.

Right now, the BHP share price is $51.70, 0.77% lower than its previous closing price.

Let’s take a closer look at the news that might be weighing on the resource company’s share price today.

BHP will consider adhering better to Paris Agreement

The BHP share price is slipping after the ACCR’s request for the company to review its links with lobby groups advocating against the Paris Agreement.

The ACCR is representing shareholders calling for BHP to cut ties with industry groups working against the Paris Agreement’s goals.

After Friday’s close, BHP announced the movement would be put to the board at the company’s annual general meeting.

ACCR’s director of climate and environment Dan Gocher commented on the resolution potentially impacting the BHP share price today:

The advocacy by key BHP industry associations throughout the COVID-19 pandemic has been fundamentally at odds with the Paris Agreement’s goals…

The Australian Petroleum Production and Exploration Association (APPEA) claims credit for the Government’s ‘gas-fired recovery’; the Minerals Council of Australia continues to block meaningful environmental and climate action—as well as having the gall to claim that Australian thermal coal could reduce global emissions; while the American Petroleum Institute has recently opposed the Biden Administration’s electric vehicle policy.

It’s the second time the ACCR has brought shareholders’ concerns regarding the Paris Agreement to BHP’s board.

In 2020 ACCR gained the support of 22.4% of BHP’s shareholders when asking for a similar stance from the company. It called for BHP to influence its industry associations to transition to greener practices. Additionally, the ACCR asked BHP not to accept the pandemic as an excuse for their associates neglecting the Paris Agreement.

According to the ACCR, these expectations haven’t been met. It urges shareholders to vote for its latest proposal.

ACCR’s calls came the same day BHP announced it will forge forward with 2 new oil projects.

BHP share price snapshot

Despite today’s slump, the BHP share price has been performing well on the ASX lately.

It has gained 20% since the start of 2021. It is also 29% higher than it was this time last year.

The post BHP (ASX:BHP) share price struggles amid renewed climate pressure appeared first on The Motley Fool Australia.

Should you invest $1,000 in BHP Group right now?

Before you consider BHP Group, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and BHP Group wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

How is the Mineral Resources (ASX:MIN) share price holding up against the materials sector?
ASX 200 Weekly Wrap: Blockbuster Afterpay deal turbocharges ASX to new record highs

Why BHP, Northern Star, REA, & ResMed shares are dropping

ASX 200 midday update: REA & ResMed results, Afterpay jumps

BHP (ASX:BHP) share price on watch as $800m of spending announced

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!